After a revised timetable was established on April 22, the protracted legal conflict between Ripple Labs, the technology firm behind the cryptocurrency XRP, and the Securities and Exchange Commission (SEC) will continue beyond 2023.
The news has had a significant impact on the price. Based on statements made by Ripple Labs CEO Brad Garlinghouse in March, investors expected the lawsuit to be resolved quickly.
Since April 21, the price of XRP has plunged 26%, with a sell-off throughout the cryptocurrency markets contributing to the downward pressure. After the markets fell on February 24, XRP trended upward, reaching at $0.91 in March.
What factors will influence XRP’s future value? Can the currency form a bottom and turn upward in the next months?
We’ll take a look at the most recent ripple currency (XRP) news and price predictions below.
The SEC lawsuit will be adjourned until 2023.
In December 2020, the SEC filed a complaint against Garlinghouse and Ripple Labs co-founder Chris Larsen, claiming that the Ripple cryptocurrency was being traded as an unregistered securities.
“We’re anticipating some conclusions from the court, you know, sooner rather than later as it pertains to a handful of cases before the court,” Garlinghouse said on March 3 on Fox News.
On March 11, the court refused the SEC’s motion to dismiss Ripple’s fair notice defense, which claims that, contrary to the SEC’s evidence, Ripple did not obtain fair warning that its XRP currency transactions may be construed as securities law violations.
The SEC asked the court to reconsider an earlier ruling compelling it to submit documents about a lecture given by former SEC director William Hinman in June 2018, which contained remarks on why he did not believe bitcoin and ether cryptocurrencies to be securities.
In the most recent step in the case, Ripple Labs and the SEC issued a joint scheduling letter suggesting that petitions for summary judgment and expert challenges be filed by August 2nd, and closing briefs by December 20th. The case might be finished in early 2023 as a result of this.
Will the ripples rise or fall?
The price of XRP began 2022 at $0.8313 and declined to $0.5587 on January 24, 2022 as cryptocurrencies sold off, as shown on the XRP chart. On February 8, XRP rose to $0.91, but was unable to maintain its gains, falling to $0.63 on February 24 as global markets plummeted.
The price of XRP rose to $0.9081 on March 28th, but was unable to maintain that level, falling to $0.56 on May 8th. The coin was trading for $0.5263 on May 10th.
What does the future hold for the erratic XRP price? Will the market reach a bottom, or will it continue to fall?
2022-2025 Ripple (XRP) forecast
At the time of writing on 10 May, CoinCodex’s technical analysis indicated that sentiment for XRP was pessimistic, with 26 technical analysis indicators indicating sell signals and six indicating bullish signals. By the 15th of May, CoinCodex predicted a price of $0.4861, a drop of more than 7%.
According to algorithm-based predicting site Wallet Investor, ripple’s future price might reach $0.877 by the end of the year and $1 in late 2023. By the end of 2025, the price of XRP may be approaching $2, and in five years, it could be trading at $2.39.
Based on past data, the Ripple projection from DigitalCoin predicted a slower rate of increase, with an average of $0.69 in 2022, $0.77 in 2023, and a retreat to $0.73 in 2024 before hitting an average of $1 in 2025. According to the analysis, the average XRP price might reach $2.38 by 2030.
Gov Capital’s Ripple price estimate was negative in the near run, expecting that the XRP currency will fall to $0.4072 by the end of 2022 before rallying to $1.1340 by late 2023. The coin might be worth $5.4640 by May 2027.
Ripple’s anticipated growth rate might quicken later in the decade, according to Price Prediction. The coin might average $1.07 in 2022, $1.54 in 2023, $3.16 in 2025, and $21.88 in 2030, according to artificial intelligence-assisted XRP pricing research.
It’s vital to remember that cryptocurrency markets are still incredibly volatile, making it impossible to anticipate a coin’s price in a matter of hours, and much more difficult to make long-term predictions. As a result, experts and algorithm-based forecasts may and do make mistakes.
If you’re thinking of trading XRP, we suggest that you do your homework beforehand. Before making any investment or trading decisions, keep up with the latest market trends, news, technical, and fundamental research. Remember that previous results are no guarantee of future results. Also, never put money into an investment that you can’t afford to lose.