The recent decision by the U.S. Securities and Exchange Commission (SEC) to drop its appeal in the Ripple case has brought a wave of optimism to the market, especially regarding the price of XRP. The clarity surrounding Ripple’s legal status has alleviated concerns, paving the way for institutions to feel more secure in investing in XRP. With the SEC no longer actively pursuing litigation against Ripple, institutions are expected to ramp up their investments in the digital asset.
Despite the positive news of the SEC dropping its appeal, XRP’s price did not experience a significant surge as many had anticipated. It did not skyrocket by 30-40% or surpass the $3 mark. However, renowned crypto expert Dark Defender has put forth a bold prediction, suggesting that XRP could potentially skyrocket by over 12,000%, reaching a staggering $280 in the coming years. Drawing parallels to the 2017 rally where XRP went from mere pennies to nearly $4, Dark Defender believes that similar market patterns indicate the possibility of another substantial price increase on the horizon.
Institutional Investments and Spot ETFs are expected to play a crucial role in the future of XRP. Attorney Fred Rispoli, speaking on the Thinking Crypto podcast, highlighted that the dropping of the appeal could create a more favorable environment for institutional investors. Moreover, with the SEC likely to be more open to approving XRP spot ETFs now that the litigation hurdle has been removed, this could mark a significant turning point for Ripple and its overarching business strategy, particularly as institutional interest continues to grow.
Despite the newfound optimism, Risk-Averse Institutions may still exhibit some caution in their approach to investing in XRP. While the removal of uncertainty regarding Ripple’s legal standing is a positive development, some institutions may prefer to wait for a final resolution before diving in. The dismissal of the appeal brings Ripple closer to clearing its name entirely, but until all judgments are made clear, there may still be some lingering risk in the minds of risk-averse investors.
Looking ahead, all eyes will be on Ripple’s next moves following the appeal’s dismissal. As Ripple navigates through this pivotal moment, the focus will likely shift towards how they engage with institutional partners. While the appeal’s dismissal is a significant milestone, Ripple is expected to continue negotiations and await official documentation before announcing any major partnerships or strategic initiatives. As these developments unfold, the market is anticipated to respond positively, potentially propelling XRP’s price upward in the weeks to come.