One of the more compelling opportunities in the world of crypto could be XRP (XRP-USD). At least, that’s what Finder.com believes, with a recent report outlining a bull case in which the XRP crypto could hit $3.81 in the next three years.
This intriguing report outlines one key catalyst that could take this token approximately 600% higher in relatively short order. That catalyst, as many may guess, is a positive conclusion to XRP’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
In 2020, the SEC charged individuals at Ripple Labs, the parent company of XRP, with unregistered securities offerings. The key crux of its case could have ripple effects (pun intended) for the entire sector. Whether or not XRP is a security will ultimately determine the prospects for the XRP crypto — that much, most agree on.
Let’s dive into what could drive this token so much higher in short order.
A Legal Win Could Send the XRP Crypto Soaring
Given the fact that we’re now basically two full years into this legal battle with the SEC, many expect a conclusion to this whole ordeal will come in short order. In fact, Ripple’s CEO Brad Garlinghouse has stated he believes a Q1 or Q2 2023 timeline is likely for this case to wrap up.
Some believe that any conclusion to this madness is good news for XRP. The headwinds that have hung over this project have hurt its valuation substantially of late. Of course, macro conditions haven’t been favorable either. However, with thousands of tokens available for investors to choose from, picking one with clear legal issues isn’t something many investors want to do right now.
It’s a risk-off environment out there, and the XRP crypto has felt the pain more than many other top tokens. That said, there are a couple of key reasons why a conclusion to this case could be positive for XRP.
The first key driver of price appreciation for XRP could come from the re-listing of this token on various exchanges. Right now, this legal overhang means that investing in this token on a number of centralized exchanges isn’t possible. More liquidity for any token is generally a good thing. Thus, this is one key catalyst that could come about in short order for XRP.
Another key factor investors are watching is how amicable the current judge in the case is toward Ripple and XRP. As of right now, it appears many of the proposals put forward by Ripple’s counsel have at least been considered by the judge. Thus, there’s growing speculation that a positive conclusion to this legal ordeal could be in order.
If XRP wins its case, it’s clear this token has some upside. Whether that’s more or less than $3.81 will remain to be seen. That said, this will be a key catalyst crypto investors will want to watch in the months to come.
On the date of publication, Chris MacDonald 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.