The recent legal battle between the US Securities and Exchange Commission and Ripple (CCC:XRP) has been up in the last few days. A judge in the case has made some judicial statements that greatly favor the crypto startup. These statements give investors an opportunity to watch the price predictions for Ripple (XRP).
Before we get into the details, let’s talk about Ripple. In essence, Ripple is a company that owns a limited amount of its own cryptocurrency called XRP. XRP is the mechanism by which Ripple can conduct smooth and fast transactions internationally. By converting preferred fiat currency to XRP, a user can send that currency overseas and then easily convert it to the recipient’s preferred fiat currency.
During a hearing last week, a judge suggested that XRP has both a currency value and a utility that sets it apart from other cryptos such as Bitcoin (CCC:BTC) and ether (CCC:ETH-USD).
These comments contradict the entire SEC argument that regulators designate XRP as collateral rather than currency. The judge’s comments speak strongly in favor of Ripple, and as such, the price of XRP is skyrocketing today, up 15% this morning.
Price predictions for bullish and bearish ripple (XRP)
Given the optimism about recent proceedings, let’s take a look at some recent price predictions for Ripple (XRP):
- Prime XBT has predicted that XRP could hit and beat $ 3 with an uptrend. A legal win for Ripple could certainly spur this on.
- CoinPedia is more bearish on the crypto given its litigation, valuing it at 65 cents by the end of the year.
- Hedge fund manager Will Meade is bullish on XRP and predicts a price of $ 3 in the near future. The capital also reports long-term projections of nearly $ 30.
- Trading Education tracks a variety of Ripple (XRP) price predictions. This range goes from 50 cents to over $ 1 for 2021 goals.
The presence of both bullish and bearish arguments indicates the volatility of the currency. Be aware, however, that the legal news may change these bear predictions instantly. XRP is not a crypto to sleep in.
At the time of publication, Brenden Rearick had positions (neither directly nor indirectly) in the securities identified in this article.