A legal dispute between crypto company ripple and the u.S. Securities and exchange commission (sec) has created uncertainty in the price of XRP, one of the leading cryptocurrencies. Despite initially achieving a victory in court declaring XRP is not a security, the cryptocurrency market remains in anticipation of the uncertainty to come with regards to the final outcome of the case.
In an effort to glean further insight into the potential XRP price changes associated with the development of the ripple vs. Sec case, finbold has collaborated with google bard, an interactive artificial intelligence tool.
In response to queries from finbold, google bard has revealed promising results for ripple in this case and its impact on XRP price. Bard’s predictions suggest that if ripple manages to win its case against sec, the price of XRP could surge significantly in the short term, reaching a range between $2.50 to $3.00. This reflects a substantial increase Compared to the current price which hovers around $0.50. However, keep in mind that in a cryptocurrency market known for its volatility, the price of XRP could fluctuate within a higher or lower range than these estimates. Especially after ripple’s early victory in the case, the XRP price skyrocketed to almost $1, but was weighed down by overall market sentiment.
Ripple’s case status with sec is still evolving, and the final outcome is uncertain. A trial date has been set for 2024. Ripple’s president, monica long, has committed to seeing this legal battle through to the end.
However, the approaching trial date casts doubt on the likelihood of an actual trial. Some observers, such as prominent lawyer john deaton, have cast doubt on sec’s ability to proceed with the case. Along with its complexity, sec may consider settling the case, while shifting its focus to other litigation involving crypto exchanges, such as coinbase and binance.
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