🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Pundit Foresees XRP Between $100 and $10,000 After SEC Suit Ends

Published 22/04/2024, 14:09
© Reuters.  Pundit Foresees XRP Between $100 and $10,000 After SEC Suit Ends
XRP/USD
-

Coin Edition -

  • Community pundit Jack argued XRP’s potential to attain $100 and $10,000 after the SEC lawsuit ends.
  • Previously, he asserted that $1,000 per XRP is “peanuts” considering the tokenization market.
  • Ripple is challenging the SEC’s proposal for nearly $2 billion in fines today.

Members of the XRP community continue to speculate about XRP’s outlook upon the conclusion of the multi-year legal battle involving Ripple and the SEC. Community member Jack, with 212.6K followers on X, recently weighed in on this discussion.

Jack emphasized that the Ripple-SEC lawsuit’s conclusion means XRP has complete regulatory clarity to function as the first cross-border payment asset in the US. Accordingly, he argued that a three to five-digit value for XRP upon the termination of a protracted legal battle with the US regulator “is inevitable.”

Notably, the outlook suggests the community pundit expects XRP to be between $100 and $10,000 sometime in the future. Jack’s latest commentary on XRP’s potential value expanded upon his earlier assertive claim that XRP trading at $1,000 would be “peanuts.” At the time, he grounded the forecast on XRP Ledger’s utility in the tokenization market.

Jack speculated a scenario wherein $50 trillion in tokenized value passes through XRPL. As a result, he concluded that $1,000 per XRP is a trivial target in light of the immense potential within tokenization.

Now, this XRP enthusiast has issued an even bolder outlook for XRP when Ripple’s regulatory hurdle concludes. One of the most recent updates in the SEC vs Ripple case involves Ripple’s Chief Legal Officer Stuart Alderoty announcing plans to file an opposition to the SEC’s request for nearly $2 billion in penalties from the company. This opposition filing will occur today, April 22.

Last month, the SEC proposed a judgment requiring Ripple to pay $1,950,768,364 in fines and penalties for its alleged violation of federal securities laws. Should the court adopt this proposed judgment, Ripple must settle the $1.95 billion amount within 30 days of the ruling.

However, Ripple’s team is not receptive to this proposal and plans to challenge it today with a counter-filing.

The post Pundit Foresees XRP Between $100 and $10,000 After SEC Suit Ends appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.