The legal battle between Ripple V/S the SEC continues endlessly. Meanwhile, Ripple labs CEO Brad Garlinghouse has stated that a settlement is likely. One condition is that the regulator is expected to clearly define the regulatory status of XRP. This is justified, since a company that wants to know the SEC’s position on the coin is definitely correct.
On the contrary, there appears to be a lack of clarity in the regulated agency system. This is illustrated by reference to the documents shared by James K. Phelan. Who is the defense attorney and former federal prosecutor?
Referring to the documentation we can understand this. The Securities and Exchange Commission (SEC) has filed an objection to Ripple’s request to review the three additional documents on camera. Based on franchise record by the Securities and Exchange Commission after August 31, 2021. Via conference call, including chain email. To be precise, the SEC intends that the judge will not review the information.
Meanwhile, the SEC sent an email to a third party. The agency wants them to analyze the digital assets using the factors included in Bill Heinman’s letter. Regarding the free Ethereum pass from the June 2018 speech, however, the opinions in his speech were his personal opinion. In addition, enthusiasts believe that the Securities and Exchange Commission has not made clear what adequate decentralization is.
Also Read: XRP Price Trend Reversal – XRP Eyes $2.54 with 160% Rise in Q4!
Analysts expect the price of XRP to reach the $10 level!
While the market is still in bears grip, analysts are pinning high hopes on XRP. Analysts and traders expect the price of XRP to reach $10 sign. The platform has the ability to achieve the goal. But it must be seen when it comes true.
The currency is being traded at the time of publication in $0.920, Less than ATH by a greater margin. The digital currency ranks sixth in the market charts in terms of market capitalization. Netizens believe XRP is one of the underrated coins among the top 10, and XRP reportedly bounced off its moving average of $0.88 In the past few days. Indicating that the bulls are the saviors, we can expect a target within range 1.4 dollars to me 1.5 dollars short term.
Meanwhile, corrections have been made to the statement made by Ripple’s board of directors. One of the purposes is to position XRP as a bridge for cross-border payments. And not basic. Respectively, the settlement period is lower than FIAT, and volatility affects less when compared to FIAT.
In short, the innovative technology that XRP can offer is liquidity on demand. which replaces the previously funded account. This could open up a lot of liquidity and capital which could allow the price to go up.
Likewise, prospects for potential partnerships with the Development Agenda Group are making rounds. On the other hand, netizens believe that the XRP ledger is arguably more decentralized than its peers. Internet users also want the SEC to maintain a steady base. And not suddenly pick random winners and losers. Collectively, factors could push XRP up towards the $10 mark, possibly in the first quarter of 2022.
