Ripple’s digital coin, known as XRP, facilitates money transfers between different currencies on the Ripple network. XRP exhibits an evident rise since September 16 from a low of $0.32 to a high of $0.55. Currently, XRP’s price stands at $0.468, marking more than 40% off from the 2022 highs that the coin registered at the beginning of the year. The burgeoning question is “Where is Ripple heading next?” and “What should we expect from the fourth quarter of 2022?”
Luckily, Crypto Lists discusses Ripple and its coin, XRP, to assess the price estimates and analyze where it will be in the fourth quarter of 2022. Every week, Stanko from CryptoLists.com make price estimates for a few coins and tokens that are advancing or declining.
The legal battle about SEC: Its importance for Ripple and the crypto industry
The struggle with the SEC began in a 2020 lawsuit where the SEC accused Ripple and its top executives of selling unregistered securities. The case alleges that XRP raised $1.3 billion as unauthorized security. Already in the beginning of August, Seeking Alpha suggested to buy the SEC uncertainty and sell the settlement news.
The issue was whether XRP is an investment contract regulated by the SEC. Ripple.com claims that it has never entered into an agreement for an investment with an XRP buyer, and the SEC claims that the Ripple sales of XRP should have been registered with the SEC.
SEC argues that XRP is a security, but Ripple claims it did not pass the Howey Test determining whether an asset is a security. The argument led to the parties filing motions for summary judgment. The situation saw the value of XRP surge as the court case has plagued Ripple for almost two years, and there is a possible way it will end. According to Finance Feeds compilation in the end of August, Ripple is putting SEC employees’ on the spot and exposing their trading of XRP, ETH, and BTC. The defendants of Ripple Labs Inc spent over 100 million dollars on laywers.
Brad Garlinghouse, Ripple’s CEO, stays optimistic about the case and does not see the need for it to go to trial as there is ample evidence for the judge to decide without a jury. Garlinghouse believes that the submission of both motions by SEC and Ripple should be enough for District Judge Analisa Torres to rule on the facts provided, and he thinks the facts are undisputed. Garlinghouse’s interview on Fox Business on September 22 led to the crypto becoming bullish.
Speculations believe the possible victory over the SEC might impact the whole crypto industry. David Gokhshtein, a former US congressional candidate, states that if Ripple scores a win, it might influence the impeccable rise of the entire cryptocurrency market. The decision on the SEC’s objection is still pending, and Judge Torres will decide on the expert motions and summary judgment on or before 31St March 2023.
Price estimates for Ripple
Ripple’s price keeps advancing despite the pressure and hawkish signals from central banks and uncertainty coming from the Ukraine crisis. However, the value spike comes from the trader’s optimism rise, positive developments in the ongoing Ripple lawsuit, and the visit from the CFTC Commissioner to the Ripple Labs to inquire about the Ripplenet. Additionally, the price rise in Ripple comes from the high whale movement in the last several days. This occurrence is evident as Ripple shifted 30 million XRP on September 21, as 261 million XRP coins were moved by whales between wallets on various major exchanges on September 20.
Technical analysis on Crypto Lists indicates that XRP’s sentiment was neutral on September 23, with 19 indicators showing bullish signals and 13 exhibiting bearish signals. XRP’s price range prediction means the coin can climb by more than 20% to $0.59 by mid-October. Forecasts show that the XRP could rise to $0.52 in the fourth quarter. Other anticipations expect an average growth of $0.48 in 2022.
When assessing Ripple’s price prediction, it is essential to remember that crypto markets are incredibly volatile, and one cannot accurately predict a coin’s price even in the next few hours.
The price of Ripple has been advancing in the last several days due to the reasons mentioned earlier and positive developments in the lawsuit. XRP has gone above the $0.55 level on Friday, and traders should know that the price can fluctuate and it could drop. However, the crypto market is volatile, and it is challenging to foresee the effect on worldwide interest rate increases and tax rate cuts in the UK. Thus, the positive advancements and the victory in the lawsuit could be why Ripple might skyrocket, impacting the whole crypto industry.
Ripple XRP is amongst the most valuable cryptocurrencies as indicated in the Crypto Lists review of the token and offers a green alternative in the crypto world. Their next price analysis is going to be about Matic.
Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice. Themarketperiodical.com does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post. Themarketperiodical.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.