XRP Price To Hit ATH Despite Ripple Vs. SEC Lawsuit – Predicts Ripple Lawyer

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XRP, the digital asset native to the Ripple blockchain, has navigated a challenging path in recent years, which has been marked by legal uncertainties and fluctuations in the crypto market. Despite Friday passing without significant updates in the SEC v Ripple legal case, a cloud of uncertainty continues to hang over the case’s eventual outcome.

Ripple and the SEC are less likely to settle as time passes, increasing the risk that the SEC may appeal the Programmatic Sales of XRP ruling. The SEC suggested new dates, extending the opening brief deadline by 9 days to March 22, 2024, and requesting a 10-day extension for Ripple’s remedy objection deadline to April 22, 2024. Additionally, the SEC requested to move the reply brief date to May 6, 2024, from April 29.

The XRP community is frustrated with the SEC’s delays, thinking they might affect XRP’s performance during an expected bull run after the Bitcoin halving event in mid-April. Despite this, XRP’s price has stayed almost the same for over two years, unlike other cryptocurrencies that have surged.

A recent tweet by Moon Lambo shed light on the SEC’s stance, indicating that the regulatory body does not intend to challenge Judge Torres’s ruling that XRP is not a security. However, In response, Bill Morgaon underlined the significance of resolving the broader legal issues surrounding XRP, including its status, availability on US exchanges, and Ripple’s operational freedom with the asset.

Bill Morgan believes the stakes are high for XRP and it is beyond security status. He stresses the necessity of wrapping up the Ripple-SEC lawsuit, ensuring XRP’s availability on US exchanges, and safeguarding Ripple’s operational capabilities. These steps, according to him, are the keys to unlocking XRP’s true potential and paving the way for unprecedented growth, including reaching new all-time highs. 

Some say the market has factored in the lawsuit’s impact on XRP’s price by early 2021, but others say a settlement is needed to unlock the cryptocurrency’s full potential. Markets want legal clarity and operational independence for Ripple and XRP, which might boost XRP’s value.

In the meanwhile, XRP, the sixth largest cryptocurrency, has recently gained due to Bitcoin’s market strength. It rose 15% last week, bringing hope for more gains. XRP rose 1.6% to $0.60 in 24 hours.

XRP’s price recently broke above key technical levels and invalidated a long-standing downtrend. However, Bulls are now in control, aiming to challenge resistance around 68 to 73 cents. If XRP breaches 70 cents, it could rally toward its all-time high of $1.90, especially with a favorable SEC judgment. However, support at 58 cents is crucial to maintain its bullish momentum. With improving metrics and growing speculative interest, XRP seems poised for a comeback in the crypto market’s top 10.