• The ongoing lawsuit between the blockchain payments firm Ripple Labs Inc and the US Securities and Exchange Commission (SEC) is likely to end soon.
• Speculations are rife about the future price of XRP coin with the advancement in XRPLedger and the growth of the decentralized ecosystem.
• Victory of the SEC over LBRY has given them a bigger impetus to believe it can tap a good victory over Ripple.
As the ongoing legal battle between Ripple Labs Inc and the US Securities and Exchange Commission (SEC) draws closer to its conclusion, there is much speculation about the future price of XRP. The case, which has been ongoing for more than a year, has had a huge impact on the price of XRP, with the cryptocurrency plummeting to its lowest price point of $0.2906 in the past 52 weeks.
The controversy surrounding the status of XRP has led to much speculation about the outcome of the case. Ripple has maintained that the coin should be classified as a payment utility, while the SEC believes it should be classified as a security. As a result, the company has been treading carefully as any form of settlement without legally defining the status of XRP could open the door to further legal action.
In addition, the recent victory of the SEC over LBRY, a protocol that says it is doing to publishing what Bitcoin does to money, has given the regulator a bigger impetus to believe it can tap a good victory over Ripple.
However, despite the ongoing legal battle, the XRPLedger has continued to make advances and the decentralized ecosystem has grown. This has led to speculation about what the future price of XRP might be, with some speculating that it could reach the thousands after the Ripple-SEC case is settled.
The team at Ripple is also looking to make XRP more accessible, with the “Checks-Feature” recently going live in the decentralized ecosystem. This development will allow users to send and receive XRP tokens with a unique identifier code, making it easier to send and receive payments.
Overall, the future of XRP looks promising, and the outcome of the Ripple-SEC case will have a huge impact on the price of the cryptocurrency. With the XRPLedger making advances and the decentralized ecosystem growing, the future looks bright for XRP. We’ll just have to wait and see what the future holds for the cryptocurrency.