By 2023, the price of XRP is up nearly 55%, largely due to the expectation that Ripple will emerge victorious against the SEC. Despite the recent gains, XRP has had difficulty breaking a significant multi-year resistance level of $0.55.
However, analysts and experts predict that the continued accumulation of XRP tokens could eventually outpace the sell-off, leading to a potential price explosion. This could happen even if the market anticipates the upcoming court ruling in the SEC vs. Ripple case.
A new video from Investor in digital assets on YouTube explains two scenarios for the price of XRP after the verdict. They talked about two possible outcomes if there is a favorable ruling or settlement in the Ripple vs. SEC case. The first scenario is that the price of XRP could explode in seconds, indicating a positive market interpretation of the news.
Also Read: Ripple Price Prediction 2023, 2024, 2025: Will XRP Price Reach $1 By End Of 2023?
However, there is also a real possibility that the market will misinterpret the news, leading to a price drop in the near term. In either scenario, the digital asset investor appears to be confident in XRP’s long-term potential, as they believe that even a negative result in the lawsuit would not halt XRP’s growth.
He expects XRP price to reach at least $6.21 once it breaks the April 2021 high game of fibs. They suggest that if XRP loses the low, it could change the game.
Recently, John Deaton debunked that the rumors of a secret meeting between Ripple and the SEC on May 8 are false. He also suggested that a settlement in this case would only happen after a ruling from Judge Torres, and that would only happen if Ripple gets a big win. Deaton believes Gary Gensler would only agree to a plea deal if it allows him to save face and win a political victory, but he thinks this is unlikely.