The post Ripple vs. SEC: Can Legal Clarity Lead XRP to a New All-Time High by December? appeared first on Coinpedia Fintech News
Right after the 60-minute interview, XRP is soaring in the market, surging by 13% in just one day, pushing its market cap to over $99 billion. This sudden rally has caught the attention of investors, who are now increasingly optimistic about the token’s future. With New Partnerships, IPO launch, ETFs, and Stablecoins all lined up in the coming months XRP is surely to hit a new ATH by December. Before that let’s understand what’s market looks like.
Ripple vs. SEC Case: Will it Be Over Soon?
The hopes for XRP price are rising because Brad Garlinghouse hinted in a recent interview that XRP may come out from a legal mess creating room for XRP growth. Speculation is growing that the case could be dismissed by 2025, giving XRP the regulatory clarity it has long sought. This optimism gained momentum after SEC Chair Gary Gensler announced his departure in January.
Some legal experts, like Chris Giancarlo, believe the SEC might drop the case altogether, while others, such as lawyers Fred Rispoli and Jeremy Hogan, think the SEC might settle and reduce penalties. Additionally, interest is rising in creating XRP exchange-traded funds (ETFs), though the SEC has yet to approve any.
If the case is dismissed, it could remove regulatory roadblocks that have hindered XRP’s adoption. This would give Ripple room to expand, potentially sending XRP’s price to new heights, with investors already factoring in this potential outcome.
Brad Garlinghouse’s Upcoming 60 Minutes Appearance
Ripple CEO Brad Garlinghouse is set to appear on 60 Minutes, where he will discuss Ripple’s journey through the ongoing lawsuit with the SEC. The interview, airing on December 1st, will showcase Ripple’s resilience and belief in future success, even amidst legal challenges. This comes at a time when XRP has surged to a multi-year high of $1.60, with growing optimism in the crypto market.
XRP’s Strong Market Performance
In the meanwhile, XRP is currently in a strong bull run, trading above $1.50, with a 6% gain in the past 24 hours and a 20% increase over the last week. It’s eyeing the $1.60 mark, though it faces resistance between $1.60 and $1.70. If it breaks through, it could quickly hit $2. Analysts predict that if the price drops, solid support levels around $1.25 to $1.30 will prevent significant losses. If it breaks above $1.50 has already shifted previous resistance levels into support, setting XRP up for further growth.
Looking Ahead: Positive Outlook for December
Ryan Lee, Chief Analyst at Bitget, forecasts that XRP could continue its positive movement into December, potentially reaching as high as $2.57. This bullish prediction is supported by recent market trends and the anticipated launch of an XRP ETF, which could further influence the token’s price.