XRP (CCC:XRP-USD2022 could start in a huge way. The fintech project looks like a clear winner in its current legal battles, according to some analysts. If all goes according to plan, the US Securities and Exchange Commission may soon be out of its hair. If this happens, XRP is expected to break out. As chatter rages about the SEC lawsuit likely to expire, XRP price predictions are on the rise. Will XRP Crypto Reach In Its Steps Again?
Much of the talk today about the SEC’s lawsuit against Ripple comes as the latest Ripple court briefs make their rounds online. Judge Sarah Netbourne, one of the presiding judges, ordered both sides to respond with letters about the SEC’s use of the deliberative procedure privilege (DPP). DPP is a privilege granted to government agencies; The agency is allowed to protect some of the behind-the-scenes deliberations that go into that agency’s decision-making process.
A letter posted by Ripple saw the project come under attack, challenging the SEC’s use of DPP in order to keep some communications out of court. Her letter specifically challenges the Securities and Exchange Commission’s choice to conceal communications regarding a speech delivered by SEC Director William Hinman in 2018. In a 2018 letter, Hinman discussed classifying cryptocurrencies as securities or currencies.
In order to keep these communications confidential, the Securities and Exchange Commission will need to connect the communications directly involved to the agency’s decision-making processes, or risk information that reaches the public eye.
Huge news for Ripple. Now, its proponents see the Securities and Exchange Commission as weak.
XRP Price Predictions Bounce as Ripple Puts the SEC in Trouble
This news is very comforting to the Ripple bulls, especially those who are hoping for some indication that the suit may be coming to an end. If the SEC turns over this information, Ripple may have exactly what you need to win the judges over. Analysts are starting to really think about Ripple’s ability to overcome the issue. After continuing since late 2020, this is a welcome sign.
As the news makes its way through the crypto world, the price of XRP is skyrocketing. In fact, the coin posted a 5% gain this morning; The trading volume is also up over 60% compared to yesterday. The coin is now exchanging at around 90 cents, but investors certainly don’t think the responsibility stops here, especially with such bullish news.
Could XRP cross the $1 mark again in the wake of the tide turning in the lawsuit? Let’s take a look at some XRP price predictions and see what the analysts have in mind:
- CoinPriceForecast believes that Ripple has enough gas left in the tank to pay over $1 in 2021. The site expects XRP to end the year at $1.07.
- DigitalCoinPrice expects more gains from the coin over the next few weeks. The outlet targets a price of $1.37 for the coin by the end of the year. Then you expect the coin to be worth $1.55 at the end of 2022.
- WalletInvestor’s 12-month forecast for the coin reflects the same bullish trend as its peers. By December of next year, the site expects XRP to trade at $1.41.
- Similarly, Gov Capital’s target price for XRP in December 2022 is $1.43.
Published in, Brenden Ryrick He did not have (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, and are subject to InvestorPlace.com’s posting guidelines.