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This week, Finance Feeds talked to Natalia Zakharova, a top retail and institutional FX broker, about the SEC vs. Ripple lawsuit and what it means for XRP, which is a hot topic right now.
We learned this from an FXOpen executive in March 2021. He told us that a settlement with Ripple could cause a "dramatic" rise in the value of XRP in the market. This time, she made it very clear that she was talking about price targets, like $1.80 during a settlement this year.
RIPPLE'S $40 BILLION MARKET CAP RESISTS THE SEC'S PUSH.
In the United States, the Securities and Exchange Commission (SEC) has been suing the Ripple network for a long time now. Investors and regulators are all waiting for different results, says Zakharova.
As recently as recently, there has been speculation that Ripple may win the lawsuit, which has led to a quiet confidence in the payment protocol and in the XRP native token. The SEC is now at odds with itself because it could lose its reputation if the lawsuit it brought against Ripple turns out to be unsubstantiated.
"Ripple has a market value of more than $40 billion, and it has held that level since the middle of last year, even though the SEC has been pursuing Ripple hard and keeping the company in the news for a long time," she said.
Rush to $1.80 while there is a lot of settlement.
Investors are now figuring out how high XRP could go when the lawsuit is over. As the court starts the process of ending the case, both sides are expected to come to an agreement on the summary judgment briefing schedule.
At this point, it's worth about $0.72. Ripple's lawsuit with the SEC may be settled this year, and there could be a rush to $1.80. There are some hints that it could reach $1.20.
FXOpen's Zakharova said that "it's not over yet" because the SEC wants to keep things going as long as possible. William Hinman's ghost and his speech from 2018 might be the only way to make the lawsuit go away quickly, but it doesn't look like that's going to happen.
A recent ruling by Judge Sarah Netburn has made it very unlikely that the DPP issue will be taken up by the Appellate Court, says XRP Holders' lawyer John Deaton. This could make it more likely that Ripple and the SEC will come to a deal soon.
In the past, Deaton said that "if they have to turn over the Hinman 68 draft emails or a ruling on fair notice, I agree that they settle." It's said that the SEC wants to do a very strict Howey analysis of XRP.
