Ripple (XRP) Could Rise More Than 300% and Enter the TOP-3 Again

Ripple (XRP) Could Rise More Than 300% and Enter the TOP-3 Again

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Yesterday’s remote court hearing in the SEC v Ripple case has added optimism about XRP.

The defendant requested to provide documents, according to which bitcoin and Ethereum are cryptocurrencies, and XRP is not, as for the plaintiff’s opinion. The Commission refused to submit its evidence voluntarily. But the court has forced the SEC to do this. Now it is highly likely that Ripple will be able to prove that XRP is a cryptocurrency, not a security. As a result, the SEC’s claim will not be satisfied.

XRP reacted to the news with explosive growth and updated its 3-year high at $1.11. XRP quickly ranked fourth in terms of capitalization, beating even Tether (USDT). For a long time, the Ripple cryptocurrency was among the top three currencies. But now the Binance token BNB is ranked as third. XRP needs to rise another 34% to return to the TOP-3. Most experts are confident that this will happen in the near future. Several fundamental factors militate in favor of XRP.

The lawsuit against Ripple was formally filed by the previous head of the SEC, Jay Clayton, a few days before he lost his position to Gary Gensler. Therefore, defeat in court will not be a blow to the ego of the current head of the SEC, and he will not make big efforts to win the lawsuit. After all, the legal basis of this case initially looked doubtful. Mary Jo White, who headed the SEC before Jay Clayton from 2013 to 2017, called the lawsuit “a legal and factual error”.

Almost immediately after the SEC filed its lawsuit, many US exchanges delisted XRP. This negatively affected the price of the token, it collapsed once to $0.17. However, in March, the SEC was forced to confirm that third parties who buy and sell XRP, including investors and exchanges, are not breaking the law. Several exchanges, including the largest in the US Coinbase, are now preparing to re-list XRP.

By the way, even when Ripple was under pressure during the lawsuit, it managed to get more than 20 new partnerships.

Cryptocurrency XRP looks grossly undervalued. While other leading cryptocurrencies were updating their highs for several months, XRP has demonstrated weak gains. Now, according to analysts, the Ripple cryptocurrency will catch up and may show a rise of up to 300%, that is, at least to it’s all-time high (ATH) of $3.84, which was set in early January 2018. It is also highly likely that XRP will set new all-time highs comparable to the rise in BTC and ETH. BTC increased its ATH 3 times, ETH 1.6 times.