Ripple and the US SEC were in contention to secure victory in a lawsuit. That chapter has concluded, and Ripple is potentially a winner, for it reportedly charged with a civic penalty of $125,035,150. This comes after the court found it is violating securities law. The SEC, naturally, is expected to appeal for a higher margin, but the chances are unfavorable since the Biden-Kamala administration is believed to extend its supportive hand to the crypto market.
This helps XRP, as the token aims to surpass the dollar mark as soon as possible. For a long time, it was believed that the lawsuit was holding the pace back. The market crash then followed this. However, the course is pretty clear for XRP and for every other token to rebound. Analysts believe that the correction phase has ended, and it is time for an upswing. XRP aims to breach the mark of $1.
XRP price is currently exchanging hands at $0.5695, up by 1.15% in the last 24 hours and 10.19% in the last 7 days. This is remarkable, considering the market was significantly lower last week. Plus, a series of slips affected price movements on the chart.
Spot Ether ETF has entered the market. Speculation is live about the next digital asset to hit the trading floor. XRP is anticipated to be next on the list. There is no official confirmation; however, interest in it speaks volumes.
The final verdict has given crypto enthusiasts hope that XRP could soon follow BTC for a massive uptick in value. It could go as high as $5 in the years to come. The closest target is $1, which is projected to be accomplished by the end of 2025, according to the XRP forecast. Alternatively, it could end the year on a lower note of $0.33 with an average value of $0.97. So, XRP can hit the dollar milestone but can also surrender to ongoing economic conditions like insufficient rate cuts or a resurgence of inflation and recession.
The long-term price target for XRP is $10, and the lowest range is $8. Decade-end is a likely target but a far-fetched dream. Successfully chasing the $10 mark would open the door to the next target of $15. Chances are Ripple will introduce or at least tease the possibility of its IPO. It is little known if that will happen in association with the ETF or as an independent event.
Suffice it to say that efforts will be invested to take XRP above $1. LedgerMan, a crypto analyst, believes that the surge will happen only after Ripple has settled its civic penalty. Meanwhile, the surge is credited to speculation around the ETF launch.