Analyst Predicts XRP Price ‘Explosion’ Following Ripple vs SEC Settlement, Points to Key Event This Week
Ripple’s XRP has been gaining attention for some months, as many have hopes that the ongoing issue with the SEC will be ending. Positive sentiment around the token has made the price rise from $0.40 to around $0.63-$0.64.
However, Matthew Perry thinks the price could be ready for a major explosion if there is a settlement with the SEC this week.
Ripple vs. SEC Case and Potential July 25 Settlement
A commenter predicted XRP could reach $150 quickly post-settlement, which the speaker does not entirely dismiss. A positive settlement could potentially shift the entire crypto market, given the significance of the case.
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The speaker is holding a large amount of XRP, holding 10,000 tokens. It is also the largest token in their portfolio.
The legal battle has been ongoing for over four years, costing Ripple more than $150 million. There’s anticipation that the settlement could bring clarity to XRP’s regulatory status and significantly impact its price and adoption.
Hopes about the chances of regulatory clarity have made the price rise by 50% recently, but it fell slightly after the SEC canceled their closed-door meeting with Ripple last week.
Another important meeting is set for July 25, which is expected to discuss some more information about XRP’s regulatory status. This could change a lot for the token.
‘Hopes are pinned on the July 25th meeting: clarifying XRP’s status could potentially trigger a price rally. A settlement could attract institutional interest and new partnerships, bolstering XRP’s market position.
The speaker is optimistic about XRP’s future, predicting significant growth and adoption once clarity is achieved. Mixed opinions exist in the community, with some believing XRP is dead and others hopeful for its resurgence.
However, the speaker expects significant changes for XRP post-settlement, anticipating it will become a major player in the crypto market with potential ETF inclusion.
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