Ripple (XRP) price has lost all its glory ever since the lawsuit by the SEC overshadowed it. However, despite the ongoing battle, analyst Big Mike has shared a chart stating that the next leg up for XRP will see the price hitting $3-$4.
Additionally, Mike mentioned that this channel has supported XRP since July 2020. On the other hand, analyst Cheeky Crypto shared a crucial Ripple vs. SEC update.
Ripple vs. SEC: Critical Update and Potential Outcomes
Cheeky Crypto has pointed out some key developments that the XRP community should watch out for in the coming days.
One key piece of data that the analyst shared was the July 8 deadline. Both Ripple and the SEC should submit updated motions on contested portions of their briefs by this date.
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Show more +The analyst also pointed out that the SEC is losing ground on multiple fronts. He also expects that this could lead to a settlement. Cheeky also spoke about a potential settlement where the SEC could reduce the penalty to as low as $10 million.
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He also highlighted that once the lawsuit is resolved, it could remove a major obstacle that is stopping the XRP price from surging. Cheeky also shared a technical analysis of XRP. He expects a short term target of 61–66 cents with a long term prediction of $2.84–$4.44.
Even though the analysis gives a glimpse of hope, the real outcome can only be analyzed after the prolonged lawsuit comes to an end.
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