XRP News: Potential for Massive Price Growth if SEC Drops Lawsuit Against Ripple

Recent developments in the legal battle between Ripple and the US Securities and Exchange Commission (SEC) have sparked Optimism among XRP investors. Here’s a summary of the key details and potential implications for the cryptocurrency’s future.

XRP Price Prediction After Lawsuit: Potential for Massive Growth if SEC Drops Case

Recently, the US Securities and Exchange Commission (SEC) has withdrawn cases against top crypto firms. Rumors suggest the SEC might soon drop its four-year-old legal battle against Ripple. In July 2023, when a judge ruled that XRP was not a security, the price climbed by 101%. Considering this trend, if the SEC withdraws its legal proceedings against Ripple, the price of XRP could experience significant growth.

Investment Firm Forecasts XRP Value At $10,000 As Adoption Globally Surges

Crypto analysts are becoming increasingly bullish on XRP, with Rowen Exchange predicting the token could reach $10,000 in the NEAR future. The analyst highlighted the rapid adoption of XRP by institutional players and emphasized the role of CryptoTradingFund (CTF) in fueling this growth. CTF Token, a DeFi system built on the XRP Ledger, offers unique opportunities and contributes to increasing demand. The growing institutional adoption is one of the strongest arguments for XRP reaching $10,000.

Crypto ETP Outflows Hit Record $6.4B, XRP Defies Downturn

Investment in crypto exchange-traded products (ETPs) suffered significant outflows last week, totaling $1.7 billion. This marks the fifth consecutive week of capital flight, resulting in total outflows of $6.4 billion—an all-time high. The prolonged downturn has caused total assets under management (AuM) to shrink by $48 billion to $133 billion. US investors led the exodus, accounting for 93% of the total outflows. Notably, XRP defied the downturn amidst the broader market sell-off.

Ripple Investors Shift to Remittix for Hedging Against Volatility

Ripple’s XRP has been facing market volatility despite surviving legal battles. Trading at around $2.3, XRP’s performance mirrors the wider cryptocurrency market, which is recovering. However, the volatility has convinced investors to seek diversification and stability elsewhere. One such option is Remittix, an innovative initiative for cross-border payments, which Ripple investors are considering as a smart hedge against market fluctuations.