Breaking: XRP price jumps almost 10% as SEC drops lawsuit against Ripple executives (2024)

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Breaking: XRP price jumps almost 10% as SEC drops lawsuit against Ripple executives? ›

Breaking: XRP price jumps almost 10% as SEC drops lawsuit against Ripple executives. The US Securities and Exchange Commission has dropped its charges against executives from Ripple Labs, including CEO Bradley Garlinghouse and co-founder Christian Larsen.

However, it's worth noting that the reason might be the SEC's lawsuit that suppressed its price action. If XRP hits new ATHs in 2025, its price could reach a high of $4.12, marking a significant milestone for the crypto project, while analysts predict that its average price could be around $2.30.

In July 2023, Judge Analisa Torres ruled in favor of Ripple in their lawsuit against the SEC. The crux of the case centered on whether XRP, Ripple's native token, constituted a security.

If Ripple would win a lawsuit, how would it affect the XRP price? Can it reach $1,000? Some Crypto investors say that Ripple can reach a target of $100 per coin after 2027 it can be as high as $480. Investing mostly boils around market psychology so the price per coin is extremely important.

The SEC sued Ripple, its CEO Brad Garlinghouse and co-founder Chris Larsen in 2020, accusing them of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. The SEC dropped its remaining claims against Garlinghouse and Larsen in October.

While it's theoretically possible for XRP to reach this price, it would require substantial market shifts or a major supply reduction.

The SEC may begin preparing an appeal that could leave XRP sidelined through H2 2024. However, SEC plans to appeal against the Programmatic Sales ruling hinge on the outcome of, Coinbase (COIN) Motion to Dismiss (MTD) all charges in the ongoing SEC v Coinbase case.

The SEC and Ripple have been battling in court for years after the SEC accused the firm of raising $1.3 billion through the sale of XRP, which it says is an unregistered security.

The Ripple's XRP Pump Explained:

The SEC vs Ripple Labs case lasted for about three years. Ripple's victory is seen as a significant win for the entire cryptocurrency market. Currently, the price of Ripple's XRP has surged by 90% and is still climbing.

Will XRP skyrocket after a lawsuit? ›

Key Points. XRP's price continues to languish under $1, primarily due to an ongoing legal battle with the SEC. A legal settlement with the SEC this year could send XRP's price soaring. Other XRP catalysts -- such as a potential spot ETF launch -- remain highly speculative at best.

Can a ripple reach 1000 USD? The price of $1000 for ripple sounds super incredible. The main obstacle of reaching that price lies in the max supply of ripple, which is equal to 100 billion. It can't be comparable, for example, to bitcoin with a maximum supply of 21 million coins.

However, if Ripple loses all appeals, the SEC is likely to collect the $1.3 billion (the amount that the regulator alleges that Ripple earned from the unregistered securities sale) and offer XRP holders an option to sell their holdings.

If the crypto market cap hits $3 trillion and XRP retains its current 1.18% dominance, its price could ascend to $0.636 by 2025. In a more bullish scenario of the crypto market surging to $10 Trillion, the price of XRP could soar to a staggering $1.12, resulting in a potential 6x return for investors by 2030.

Even at a price of less than $1, XRP could be a riskier investment than you might think. Currently trading at a super-low price of just $0.65, crypto token XRP (XRP -1.83%) might appear to be wildly undervalued.

Unlike most cryptocurrencies, which are decentralised and therefore not run by a single entity, the cryptocurrency XRP is controlled by a company called Ripple.

Conclusion (Next Cryptocurrency to Explode in 2025)

While predicting which coins will 5X by 2025 is challenging, Ethereum, XRP, Cardano, Dogecoin, Toncoin, Shiba Inu, TRON, Cronos, and NEAR Protocol are among the top contenders with strong potential for explosive growth.

Here's our list of cryptos that will explode in 2024: Dogeverse (DOGEVERSE) – A multi-chain Doge token expected to boom in 2024. WienerAI (WAI) – A prime meme coin contender for explosive growth in 2024. Sealana ($SEAL) – Meme token with an engaging story and a fixed presale price.

XRP (XRP) Price Prediction 2040

Based on our long-term XRP Coin price forecast, we anticipated that prices could reach a new all-time high this year. By 2040, the maximum price of the XRP Coin is projected to be around $22.199. Our average price forecast for XRP is $21.746 in 2040.