Ripple's Big Court Win Nonetheless Muddied Waters on Whether XRP Is a Security Deserving Tougher Regulation | News | Mayer Brown (2024)

FAQs

Did XRP win a court case? ›

Ripple recently scored an unequivocal victory from a dollars-and-cents standpoint in a class action securities lawsuit, with the judge tossing out most of the case.

If the crypto market cap hits $3 trillion and XRP retains its current 1.10% dominance, its price could ascend to $0.589 by 2025. In a more bullish scenario of the crypto market surging to $10 Trillion, the price of XRP could soar to a staggering $1.96, resulting in a potential 4x return for investors by 2030.

After a strong rally, XRP's price has pulled back and now faces a critical test at a key support level. Recent news regarding Ripple and the SEC has caused XRP's value to drop. A recent price drop has put XRP's key support level at risk. A potential rebound for XRP could lead to further gains.

XRP is a cryptocurrency and the native token of the open-source XRP Ledger, founded in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto. 1. XRP is pre-mined and has a total supply of 100 billion tokens. XRP is more cost-effective, has faster transaction times, and is less energy-intensive than Bitcoin.

Experts are predicting a potential end date for the lawsuit at the district court level by July or August 2024.

Since the lawsuit concluded, a Ripple XRP price prediction is going to be challenging to say the least. In 2025, there are some who are now calling for $2, while at the same time there are people suggesting that $5 is more likely.

Can XRP reach $100? Reaching a $100 price point would mean a market capitalisation of roughly $5.2 trillion for XRP, considering the current circulating supply of about 52 billion. This would be more than four times larger than the current value of all cryptocurrencies combined.

The Path to A Double-Digit Price

He believes the asset's true value lies between $8 and $20 and predicts it will reach this range by 2026.

Ripple's rocket ride may be risky

But it would be a mistake to expect skyrocketing prices in 2024, and $5 is an unrealistic target for the next few years. The true wealth-building gains will come in the long haul, as RippleNet expands to more countries and becomes more widely used.

XRP has an underlying role in Ripple's (the company) blockchain activities and products. XRP serves as a bridge currency to smooth out price fluctuations across borders. Its purpose is for businesses in different countries to be able to transact and minimize transaction costs.

Why is XRP losing value? ›

XRP's price decline is triggered by massive Bitcoin selloffs and the SEC reiterating about the $2 billion penalty demand from Ripple.

XRP price technicals: falling wedge breakout

Chart technicals show that XRP's gains are part of a breakout from its prevailing falling wedge pattern. Falling wedges are considered bullish reversal patterns characterized by two descending, converging trendlines.

Instead, XRP wants to be a kind of middleman currency to allow global trade between any unit of value, like from cryptocurrencies such as Bitcoin to euro or other fiat currencies. Ripple already works closely with banks and financial institutions.

How many banks use XRP? 100 financial institutions XRP is | Munib2 on Binance Square.

Is XRP considered a good investment? Speaking to Forbes Advisor Australia, Grzegorz Drozdz, a market analyst at fintech firm Conotoxia said: “Investing in XRP is risky and may not be suitable for most investors due to the high price volatility and the difficulty in predicting future trends in the cryptocurrency market.

Cross border payments to enable global money transfers, crypto liquidity to source digital assets, and CBDC services are Ripple's primary use cases.

Cross-border payment protocol Ripple contested the United States Securities and Exchange Commission's (SEC) request to impose a $2 billion fine against the blockchain company, saying the penalty should not exceed $10 million.

SEC Demands Hefty $2 billion on Ripple

XRP to institutional investors. In its opposition motion filed last month, Ripple argued that the figure should be closer to $10 million. The SEC noted its proposed penalty was large but said Ripple's proposed penalty would be a “slap on the wrist” in a filing posted on Tuesday.