Looking for insights on XRP's future? Read on to find out if XRP can bounce back to $0.50 or if the price drop will persist.
XRP YTD price chart. Source: Finbold.com
Investors hold their breath as XRP awaits ruling
Since there is no official timeline for the ruling, XRP community attorney John E. Deaton expected it to come by late April. He based this assumption on the previous time it took for Judge Torres to make her rulings.
“This decision is as big as the decision this judge has ever faced. Think about what other decision is as big as this decision when it comes to global trade and finance in modern history. This is the most significant no-fraud SEC enforcement action since 1946,” Deaton said.
The issue is delicate and will have great consequences for the crypto industry, regardless of how the judge rules. If the ruling goes in Ripple’s favor, the judge would have to justify it, but it would be a massive victory for the digital asset sector.
The good news is that Ripple and XRP have many major markets that would be happy to welcome them in Europe and Asia. So, even if Ripple loses the legal battle, it will have somewhere to go, and its token will maintain its utility and likely value.
XRP price analysis
At the time of writing, the XRP price sits at $0.47 after going up by 2.72% in the last 24 hours. On a weekly basis, however, XRP is only up by 0.30%, indicating that it managed to return to similar levels as 7 days ago, with some fluctuations in between.
This is also clearly visible on the asset’s 7-day chart, which has seen it fluctuate between $0.45 and $0.47 over the last week.
XRP 7-day price chart. Source: Finbold.com
Whether the token will manage to reclaim its previous level at $0.50 and go above or not majorly depends on two factors — the behavior of the broader market and Ripple’s legal battle with the SEC.
So far, neither one of those two seems perfectly clear, which means that investors must be ready for anything.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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