Cryptocurrency markets have been on a rollercoaster ride in 2021, but Ripple (XRP) is one of the few tokens that has experienced substantial price growth over the past months. As a result, its current price is at $0.3411 as of this month, with many analysts expecting the price to reach $0.6500 in the near future. This optimism is due to Ripple’s recent legal win against the SEC, which has proven to be a major boon for the coin and its adoption.
The XRP Lawsuit
Ripple’s fight against the SEC has been heated, with the regulatory agency filing charges in late 2020 alleging that Ripple and its founders had illegally sold XRP as unregistered security, in violation of the Securities Act of 1933. In response, Ripple filed a countersuit, arguing that XRP is not a security and that its sale and distribution was not a violation of any laws. In January of 2021, Ripple and the SEC announced that a settlement had been reached and that all charges would be dropped.
Despite the settlement, Ripple still faces an ongoing lawsuit from individual investors who allege that the company was aware of the potential for XRP to be considered a security. Such lawsuits can be lengthy, so it’s unclear at this time what the outcome will be. Nevertheless, the conclusion of the SEC lawsuit has already had a positive effect on Ripple’s price.
The Price of Ripple
In the wake of the SEC lawsuit, XRP’s price rose to $0.3411 in January, making it the second-most valuable crypto asset after Bitcoin. This position was likely bolstered by Ripple’s ability to survive the SEC’s charges, which could’ve had catastrophic consequences for the company had they not been dropped.
The resolution of the SEC lawsuit has proved to be a pivotal moment for Ripple and its future prospects. With the legal challenges now behind them, Ripple can focus on growing adoption and increasing the available liquidity of XRP. This can be achieved through strategic partnerships, such as the one recently announced with Visa, and improved usage on major networks such as RippleNet.
In terms of price, many analysts are expecting XRP to continue to rise in the near future. In the short-term, some have estimated that the coin could reach $0.6500 in January 2023 if Ripple can continue its technical and strategic improvements. This raises the likelihood that investors will flock to XRP, further driving up its value.
Ripple’s victory against the SEC was a major sign of confidence for investors and supporters, as it showed that the company is more than capable of handling legal challenges. As a result, XRP’s price has surged since the December 2020 low and is now set to reach $0.6500 by January 2023. This is an exciting prospect for investors looking to capitalize on Ripple’s increasing adoption and liquidity in the crypto market.
The price of Ripple (XRP) has been influenced by numerous factors in January 2023, such as a growing recognition of its potential as an alternative to other digital currencies and other cryptoassets, increasing media coverage, and successful marketing campaigns. In addition, speculation in the crypto markets has also had an impact on the Ripple (XRP) price.
While predictions are always subject to change, current analysts and cryptocurrency experts alike are generally bullish on Ripple (XRP). The current price of $0.3411 as of January 2023 and the expected price of $0.6500 in January 2023 seem to be well within reach.
There are multiple ways to invest in Ripple (XRP). One of the most popular methods is to purchase it directly from an online exchange. In addition, you can also purchase XRP on the secondary markets such as LocalBitcoins or Paxful. Other methods such as peer-to-peer trading or investing in physical coins are also available.