XRP News Today: Here are 2 Possible Scenarios for XRP Price if Ripple Triumphs
In 2023, the price of XRP has increased by almost 55%, largely due to the expectation that Ripple will emerge victorious in its legal battle against the SEC. Despite its recent gains, XRP has encountered difficulties in breaking through a significant multi-year resistance level at $0.55.
However, analysts and experts predict that the ongoing accumulation of XRP tokens could eventually outpace sell-offs, leading to a potential explosion in prices. This may even happen as the market anticipates the upcoming court ruling in the SEC vs. Ripple case.
A new video by Digital Asset Investor on YouTube explains two scenarios for the price of XRP post the verdict. They spoke about two potential outcomes if there is a favorable ruling or settlement in the Ripple vs. SEC case. The first scenario is that the price of XRP could explode within seconds, indicating a positive interpretation of the news by the market.
Also Read : Ripple Price Prediction 2023, 2024, 2025: Will XRP Price Reach $1 By The End Of 2023?
However, there is also a real possibility that the market could misinterpret the news, leading to a short-term decrease in price. In either scenario, the digital asset investor appears to be confident in the long-term potential of XRP, as they believe that even a negative outcome in the lawsuit would not stop the growth of XRP.
He expects XRP Price to reach at least $6.21 once it breaks the April 2021 high game of fibs. They suggest that if XRP loses the low, it could change the game.
Recently John Deaton debunked the rumors of an undisclosed meeting between Ripple and the SEC on May 8th are false. He also suggested that a settlement, in this case, would only happen after a ruling by Judge Torres, and that would only occur if Ripple gets a big victory. Deaton believes that Gary Gensler would only agree to a settlement if it allows him to save face and get a political win, but he thinks that this is unlikely to happen.
