Originally published on: October 19, 2024
As the United States regulator continues its legal battle with Ripple, market analysts anticipate increased volatility for XRP in the near future. The recent appeal by the regulator in the case against the blockchain payments firm has left investors uncertain about the future of XRP.
Despite not directly challenging the ruling that XRP is not a security, the appeal seeks to review decisions regarding XRP sales on exchanges and personal sales by Ripple executives. This legal uncertainty could result in substantial price fluctuations for XRP, with analysts predicting a range of 50% movement.
According to Bitget chief analyst Ryan Lee, XRP’s price may oscillate between $0.50 and $0.80 by the end of the year, subject to regulatory developments and market sentiment. With the last high point of $0.80 reached in March 2022, investors are closely monitoring the performance of XRP, currently trading at $0.55.
Ripple’s chief legal officer anticipates a lengthy legal process extending through July 2025, further clouding XRP’s future price trajectory. A favorable ruling or increased international support for Ripple could boost XRP’s price, while an unfavorable outcome may drive it down.
The appeal has introduced regulatory ambiguity in the U.S. cryptocurrency sector, prompting investors to adopt a cautious approach. With potential price swings on the horizon, the market eagerly awaits concrete results that will shape XRP’s future trajectory.
In other news, the possibility of XRP exchange-traded funds (ETFs) has taken a step forward, signaling growing interest in the digital asset market. Stay informed with our Crypto Biz newsletter for the latest insights and trends in blockchain and crypto business.
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