The fight between the Securities and Exchange Commission (SEC) and the fintech company Ripple keeps getting attention. Cryptocurrencies and blockchain technology may not be as popular as they used to be if a lawsuit is filed at the end of 2019.
There were two executives at Ripple Labs and one of them was sued by the SEC in December of that year.
In the lawsuit, it says that they used their cryptocurrency, XRP, as a security for $1.3 billion without having it registered with the SEC. In the past, Ripple and other people have said that the SEC is biased when it comes to making decisions.
The return of Ripple?
Even though other cryptocurrencies have reached new highs in the last year, Ripple has been mostly on the sidelines. As a good thing, XRP is back because the long-running legal fight with the SEC seems to be coming to an end, and in Ripple’s favor. This has caused the price of Ripple to go up because people think it will come back in 2022. People were writing about XRP at the time, and it was worth about $3.940 billion.
In February, the value of Ripple’s native currency, XRP, rose because people thought the XRP vs. SEC court case would be good for the decentralized ecosystem. Ripple’s case may go down this year, and its price may change in the next two or three years. Cryptona experts did a lot of research and investigation to come up with the Ripple Price Prediction. They want to know how the coin will do in the next few years.
Ripple, a cryptocurrency, is becoming more and more popular with investors as the situation gets more certain and heated. Because Ripple Labs owns XRP tokens, it bought back some of its stock as it prepares for a public stock market listing after the court case is over.
Technically, Ripple’s price has been going up recently. As it moves toward US$1, the 50-day EMA (Exponential Moving Average) at US$0.74 has been a good place to get some support. These trends suggest that the price of Ripple will go up a lot in the next few months.
In the short term, XRP won’t be able to beat the top digital currencies like Bitcoin and Ethereum. But over time, it has the chance to do so, too. If you look at the on-chain data from the Santiment analytics feed, you can see that XRP has just had its second-largest amount of growth. Over 900 million coins have been taken from addresses that own 10 million XRP. This is a lot.
XRP’s value has changed over time.
XRP has attracted a lot of attention and seen steady price rises since its launch, only for the SEC to dismiss a legal case against it. However, in order to fully understand Ripple’s position, we need to look at how its prices have changed over time.
Since its start in 2013, XRP hasn’t been used very much. It wasn’t popular until 2017. During the last year, Ripple’s price has risen by more than 35,000 per cent. While the cryptocurrency was breaking new records, RippleNet’s parent company reached a goal of 100 banks around the world joining.
Following a record high in early 2018, Ripple could not withstand the general cryptocurrency market slump and fell by 43%. Ripple’s prices stayed about the same all year. XRP, on the other hand, didn’t reach a new high in 2020, when other cryptocurrencies were on the rise. Instead, it reached its peak in the middle of 2021 and then leveled off around August of that year.
The case: How will XRP be affected by this?
The price of Bitcoin has dropped a lot since the lawsuit was filed. Investors may now see a glimmer of hope because of this.
This month, Ripple has won a lot of people’s hearts. All of these things are important to Ripple Lab’s defense. There were two important documents that had been sealed that could now be released by XRP. The court agreed with XRP. There is a good chance that they will show how the SEC categorized XRP back in 2012. Ex-SEC employees are said to have been biased against Ripple Lab and XRP in favor of Ethereum.
The SEC said that XRP is a security because it was used to pay for Ripple’s platform, which allows money transactions for merchants in their legal case, so they can make money. When the platform sold XRP, its managers also made money.
Securities must be registered with the SEC and some financial information must be made public, according to SEC rules. The goal is to protect the interests of investors while preventing fraud.
In 2022, XRP.
The price of Ripple is now completely dependent on the XRP vs. SEC court case, which is going on now. Everyone in the cryptocurrency world will be happy when Ripple does well, not just their own business but the whole thing. It will be the first time that a non-government media group has won over a government group. So, XRP’s price is expected to hit new highs after that, so its value should go up even more.
People who study the market say there are now 21 indicators that show bullish signs, and 10 that show bad signs. Another study says that the currency will reach US$1.28 in 2023, which is a good thing.