Ripple has been involved in a lawsuit with the U.S. Securities and Exchange Commission (SEC) for several years now. This has weighed down XRP as the crypto offered by the company is a key part of that lawsuit.
However, it looks like that saga is about to come to an end. Both the SEC and Ripple are calling for a summary judgment from the U.S. District Court Southern District of New York. That means both groups believe there’s no need for further trials.
Brad Garlinghouse, CEO of Ripple, tweeted the following about the filing.
“Today’s filings make it clear the SEC isn’t interested in applying the law. They want to remake it all in an impermissible effort to expand their jurisdiction far beyond the authority granted to them by Congress.”
This could mean major changes for XRP with a court case out of the way. Let’s see what the experts are expecting from XRP below!
XRP Price Predictions
- Gov Capital starts us off with its one-year price estimate of 98 cents per coin.
- WalletInvestor joins the list with its one-year forecast of 52 cents for the crypto.
- DigitalCoinPrice closes us out with its average 2023 price prediction of 82 cents for XRP.
For the record, each of those price predictions are positive compared to XRP’s price of 36 cents as of this writing. It’s also worth mentioning that XRP is down 6.1% over the prior 24-hour period as of Monday afternoon.
Crypto traders looking for more hot market news are in luck!
We’ve got all of the latest crypto news that investors need to know about for Monday! Among that is more details on the Ripple lawsuit, the latest on the 2022 crypto crash, and more on the Ethereum (ETH-USD) Merge. You can read up on all of this news at the following links!
More Crypto News for Monday
- Ripple Crypto Lawsuit Winds Down, Signaling Incoming Regulatory Precedent
- Did One Man Really Cause the Entire 2022 Crypto Crash?
- The Ethereum Merge Just Created a Huge Risk for ETH Crypto Fans
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.