XRP price could skyrocket 1,100% if SEC-Ripple lawsuit history repeats itself: details

XRP price could skyrocket 1,100% if SEC-Ripple lawsuit history repeats itself: details

TL;DR:

  • History shows that the SEC’s actions against Ripple had an immediate and drastic impact on XRP’s price movements.
  • However, the recent crash could actually be a blessing for the Ripple token, as there have been four-digit price increases in the past.

Can XRP rise 4 digits?

It’s safe to say that the lawsuit filed by the US Securities and Exchange Commission has hurt Ripple’s native token, and developments over the last 24 hours have only solidified this narrative. XRP was above $0.6 yesterday but lost 15% of its value and is now trading at around $0.51.

This all came after the US regulator decided to appeal an earlier court decision by a US judge that claimed that secondary XRP sales did not constitute securities sales.

Although the current situation seems quite bleak, history shows that it could be the start of a massive rally for XRP. After the SEC’s initial lawsuit in December 2020, the price plummeted and took just over a week to bottom.

According to popular industry analyst Crypto Karlos at the time, XRP shot from $0.17 to almost $2 over the next four months. A similar 1,100% rally would now take the price above $6.

Will XRP ETFs Make an Impact?

Just hours before the SEC’s appeal, another major piece of news was released about Ripple and its native token. Bitwise, a large crypto-focused company with already two active ETFs tracking BTC and ETH, said it has filed an application in Delaware to launch such a product to track XRP’s performance.

Many analysts claimed that this was extremely bullish for the current seventh largest cryptocurrency. In fact, CrediBull_Crypto told its 423,000 followers that the XRP ETF will be the next one approved in the US. Although this seems unlikely at the moment, as the SEC is the US regulator that approves or rejects ETFs, a possible green light could be the engine for a massive XRP rally.

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