As the end of the legal fight between the Securities and Exchange Commission (SEC) and Ripple gets closer, the XRP community is eagerly waiting to see what happens and how it might affect the price of XRP.
How the case turns out will greatly affect the future of XRP and its path to $10 in 2023.
Since there is a lot of speculation and the market is always changing, this piece looks at the XRP price prediction and what could make it rise or fall in the next year.
SEC vs Ripple Outcome
Lawyers specialising in crypto have said that the judges in the cases against Coinbase and Binance will pay close attention to the result of the SEC vs Ripple case.
Since December 2020, Ripple has been in a legal fight with the SEC over whether or not it sold unregistered securities through XRP. Recently, the SEC sued Coinbase and Binance in the same way.
Even though a good result for Ripple could hurt the SEC’s cases against Coinbase and Binance, legal experts warn that the Ripple case won’t set a precedent for the other cases.
But lawyers think that the decisions in the Ripple case could change how the Coinbase and Binance cases turn out.
Depending on how the Ripple case turns out, the business and the SEC could use it to their advantage.
As more big banks get involved in the cryptocurrency market, the SEC will likely take less action against crypto companies.
XRP Price Prediction
Currently, the price of XRP fluctuates, and it is hard for it to break above the $0.500 resistance mark.
After going below for a short time, it went back up and closed around $0.49257.
Now that the 50-day moving average works as a resistance level, XRP is running into trouble around $0.5000.
If it doesn’t break above, it may keep going down toward support levels at $0.4900 or $0.4750.
If the price keeps decreasing, it could reach support at $0.4605 or $0.4500.
Looking for alternatives to XRP: WSM
When looking for other options to XRP, WSM is a good one.
As the cryptocurrency market changes, it’s important to consider different choices and determine how they might grow and affect the industry.
Investors can diversify their portfolios and learn about new possibilities in the crypto space by looking at alternatives like WSM.
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