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SEC Settlement with Ripple CEO May Skyrocket XRP to $18.57, Says Analyst
The SEC offers a settlement to Ripple's CEO, and CryptoGeek predicts XRP's price will surge to $18.57 as the legal case nears its conclusion.
Author by
Victor Muriki
The ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has reached a crucial juncture, with reports suggesting a potential settlement on the horizon.
CryptoGeek recently announced on the social media platform X that the SEC has offered a settlement with Ripple’s CEO. This news has sparked speculation about the future of XRP, with the analyst predicting a potential price surge to $18.57 per XRP.
The lawsuit between the SEC and Ripple has been a major factor influencing XRP’s market performance. Although a court declared XRP non-secure last year, the ongoing legal proceedings have continued to create uncertainty. With the case now reportedly nearing its conclusion, a settlement could have substantial effects on XRP’s price and market perception.
Crypto influencer Ben Armstrong, also known as BitBoy Crypto, has echoed this sentiment, suggesting that a settlement would likely lead to an increase in XRP’s value. Armstrong shared his insights during an interview with Fox News, emphasizing the potential for a parabolic price run for XRP once the legal status is clarified.
Market Performance and Predictions
At the time of reporting, XRP was trading at $0.5143, reflecting a slight decline over the past 24 hours, according to CoinMartketCap data. Despite this, trading activity has surged, with a 24-hour volume increase of 70.18%, indicating heightened market interest. The current market capitalization of XRP stands at around $28.266 billion, maintaining its position as the seventh-largest cryptocurrency by market cap.
XRP/USD 1-day price chart (Source: CoinMarketCap)
CryptoGeek’s prediction of XRP reaching $18.57 per token is based on the anticipated positive outcome of the SEC settlement. If the settlement is finalized and XRP is no longer classified as a security, market confidence could rise, potentially leading to substantial price increases.
CTF Token’s Potential and XRPL’s DeFi Capabilities
In addition to XRP, attention has also been drawn to the CTF Token, a top performer on the XRP Ledger (XRPL). Analysts speculate that the token could see a dramatic increase in value, potentially reaching $1937, despite holding less than 25% of XRP’s market share.
The XRPL itself is poised to handle $1 trillion in DeFi transactions, highlighting its growing importance in the cryptocurrency ecosystem. As the only DeFi token in the top 10 on the XRPL, the CTF Token’s performance is being closely watched by investors and market analysts.
Final Phases of the SEC v. Ripple Case
The SEC v. Ripple case is currently in its final stages, with both parties having filed the necessary remedies-related briefs. Today marks the deadline for filing letter briefs in opposition to the omnibus sealing motions. Following this, the court is expected to issue a verdict regarding these motions, after which redacted versions of all relevant documents and exhibits will be publicly filed within 14 days.
Victor Muriki is an esteemed writer focused on cryptocurrency and finance, holding a Bachelor's in Actuarial Science. Known for his sharp analysis and insightful content, he has a strong command of English and is skilled at conducting in-depth research and ensuring timely delivery.
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