The future of XRP, the cryptocurrency associated with Ripple, has been a subject of much speculation and uncertainty. While some analysts remain skeptical about its potential for growth, there are several macro and micro factors that could significantly impact the token’s price. In this article, we will delve into these factors and explore the possibilities for XRP’s future trajectory.
On August 17, Judge Analisa Torres granted the US Securities and Exchange Commission (SEC) approval to file its motion seeking an interlocutory appeal against her ruling. However, it is important to note that this approval does not guarantee the success of the SEC’s appeal. The court can either accept or reject the appeal after evaluating the grounds and meeting the necessary requirements. Former SEC official Marc Fogel believes that the specific requirements for an interlocutory appeal are difficult to meet, suggesting that the odds are against the SEC. If the court denies the SEC’s request, XRP could potentially experience significant gains similar to those seen after Judge Torres’ ruling.
Potential Settlement with the SEC
Another factor that could spark an upward trend for XRP is the possibility of a settlement between Ripple and the SEC. The crypto community has been speculating on the likelihood of this happening and the factors that could prompt both parties to settle. Pro-XRP legal expert John Deaton has suggested that a settlement could occur if Judge Failla grants Coinbase’s motion to dismiss the SEC’s lawsuit against it. If this were to happen, the judge would likely adopt Judge Torres’ ruling that programmatic sales do not constitute investment contracts, and tokens bought through exchanges cannot be labeled as such. This could potentially force the SEC into a settlement, especially if its interlocutory appeal is rejected, as it would establish that the SEC lacks jurisdiction over token sales on exchanges. A settlement would be considered a major win for Ripple and could restore investors’ confidence, leading to a price increase in the XRP token.
An intriguing factor that could compel the SEC to seek a settlement is the ongoing revelations about the ETH Gate. As a form of damage control, the SEC may opt for a settlement with Ripple instead of going to trial, where its credibility could be at stake. If the SEC proposes a settlement, albeit not necessarily in the public eye, it would be a significant victory for Ripple, potentially restoring investors’ trust and driving up the price of XRP.
Despite the legal battle with the SEC, Ripple has demonstrated resilience and continued to expand its business. Monica Lang, Ripple’s President, stated that the court case has actually helped them expand not just in the US but globally. The ruling provided much-needed clarity amidst regulatory uncertainty, allowing Ripple to formulate a clear framework for the future. Building on Judge Torres’ ruling that XRP is not a security, Ripple’s general counsel, Stuart Alderoty, hinted at potential talks with US financial firms about adopting Ripple’s On-Demand Liquidity (ODL) product for cross-border transactions. Such a move would be a bullish signal for the XRP community and could convince investors of Ripple’s strides in the American market.
Rumor of Ripple Going Public
There are also rumors circulating about Ripple’s plans to go public. The company is set to hold a “proper victory party” on September 29 in New York, leading many to speculate that Ripple may announce its initial public offering (IPO) plans at the event. If this happens, it would be a significant development and generate immense interest in the company. XRP’s price could potentially benefit from the increased attention and enthusiasm surrounding Ripple.
While the future of XRP remains uncertain, there are several factors that could impact its price and trajectory. The potential outcome of the SEC’s appeal, the possibility of a settlement, Ripple’s business expansion, and the rumor of going public all contribute to the evolving narrative of XRP. As the crypto landscape continues to develop, investors and enthusiasts eagerly await the resolution of these factors, which could shape the future of XRP.
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