XRP Price May Soar 1,100% if SEC-Ripple History Repeats

Summary:

• Historically, the SEC’s actions against Ripple have led to significant and immediate price fluctuations for XRP.
• Nonetheless, the recent downturn might actually serve as a hidden opportunity for Ripple’s token, reminiscent of previous instances of dramatic price increases.

Could XRP Experience a 4-Digit Increase?

It’s evident that the lawsuit brought forth by the US Securities and Exchange Commission has negatively impacted Ripple’s native currency. The events of the past day have only reaffirmed this notion. XRP, which was trading above $0.6, has seen a 15% drop, with its current value around $0.51.

This decline follows the SEC’s decision to challenge a previous court ruling stating that secondary XRP sales are not considered securities transactions.

While the current situation may appear bleak, historical trends suggest that this might signal the onset of a substantial upswing for XRP. After the SEC’s initial lawsuit in December 2020, XRP’s price experienced a notable decline but rebounded effectively within a week.

Industry analyst Crypto Karlos reported that XRP climbed from $0.17 to almost $2 in just four months following that initial downturn. A similar rally now could result in XRP exceeding $6.

For anyone in the #XRPCommunity feeling uneasy about the SEC’s appeal. #XRP hit its lowest point only 8 days post-announcement of the lawsuit, subsequently soaring nearly 1100% from 17¢ to $1.98 within four months.

That occurred without any court support pic.twitter.com/E7BBcQHr69

— Crypto Karlos (@Crypto_Karlos) October 3, 2024

Could XRP ETFs Influence the Market?

Just before the SEC’s appeal announcement, significant news regarding Ripple and its token emerged. Bitwise, a prominent crypto-focused firm already managing two active ETFs linked to BTC and ETH, has filed in Delaware to introduce a product that tracks XRP’s performance.

Experts suggest this development is very promising for the current seventh-largest cryptocurrency. CrediBull_Crypto informed their 423,000 followers that the XRP ETF is likely to be the next one approved in the US. While the SEC holds the authority to approve or reject ETFs, a potential approval could catalyze a major rally for XRP.

Yes, I’m aware of the SEC appeal on the @Ripple case, but in the last 12 hours (apparently unknown to much of crypto Twitter) @BitwiseInvest has filed for an $XRP ETF.

XRP will likely be the next approved ETF after $BTC and $ETH in my opinion.

As far as narratives go, I… https://t.co/CBwx6IT9nc

— CrediBULL Crypto (@CredibleCrypto) October 2, 2024