XRP Surges 3.78% Amid Ripple SEC Settlement Hopes

As the Ripple SEC case approaches its conclusion, the cryptocurrency community is abuzz with speculation about a potential settlement. The price of XRP has surged in response to growing optimism surrounding the lawsuit's possible outcomes. Experts and lawyers have offered varied predictions, but the impending resolution has sparked a significant upward momentum for XRP, hinting at a substantial uptrend.

Market expert Egrag Crypto has predicted that if XRP closes above $3.00, its price could hit $4.8. This forecast is based on the token's recent performance and the potential for a bullish continuation. The analyst also identified $2.65 as a critical closure point, suggesting that XRP is poised for further gains.

Fox Business journalist provided an update on the Ripple SEC case, stating that the conclusion is nearer. The main reason for the settlement delay is Ripple’s legal team negotiating better terms regarding the $125 million fine and permanent injunction imposed by Judge. Both parties are wrapping up the lawsuit and could reach a settlement soon. Lawyer Jeremy Hogan echoed this sentiment, stating that the case could end soon if both parties reach a private settlement. This would involve terms different from the court’s original judgment, potentially allowing Ripple to sell XRP to institutional investors in a way that doesn’t openly defy the court’s order.

Hogan further elaborated that a settlement agreement would keep the terms within the parties’ control, avoiding the risks associated with attempting to ratify the judgment back at the trial court. If the judge refuses to make amendments to the judgment, Ripple could still negotiate a private settlement with the SEC, guaranteeing a better deal for the company.

As of the latest update, XRP is trading at $2.39, marking a notable uptick of 3.78% over the past 24 hours. Despite a monthly decline of 1.66%, the token has experienced a significant surge. Experts remain optimistic about XRP’s future trends, with some analysts predicting that the price could reach $9 or even $1000 after its inclusion in the US strategic crypto reserve. The changing trader sentiment and the potential for a favorable resolution in the Ripple SEC case have contributed to the positive outlook for XRP.