At $0.6267, XRP is presently trading hands, up 0.81% over the previous day. There’s a remote possibility that it will go over $1. That will, however, inevitably occur; there is no set timeframe for it. Its performance in the market is unaffected by this. The coin now has a market valuation of almost $33 billion after rising by 65.91% over the previous 12 months.
The manner and timing of XRP’s milestone-breaking will depend on two factors. The Ripple Payment Network is the first example. Cross-border payments are made quick and affordable with the help of the Ripple Payment network. The model has succeeded in establishing important collaborations. return XRP tokens to the Ripple Payment System.
A legal dispute with the US Securities & Exchange Commission is the second factor that explains why that did not or has not occurred.
The Commission is trying to categorise XRP as a token that isn’t registered. If the lawsuit is successful, XRP will lose a lot of investors, which would negatively impact the price of XRP. There’s a slim possibility Ripple may prevail in the legal dispute. Investors that hang onto their XRP tokens in their portfolios will profit more if that occurs.
That would mean that XRP would quickly cross the $1 mark. XRP is getting close to reaching that mark once more. In July, a single token’s market value was $0.95 during that time. Remember that most participants in the cryptocurrency market were negative about their portfolios during the winter.
It looks like Ripple will prevail in the case. Having said that, it is less probable that the SEC will drop the apple from the terrace unguarded. This means that there is a lot on the line in this well-known case. The Commission will exercise great caution before turning over the matter to them. There are circulating reports suggesting that a $770 million settlement between Ripple and the Commission may be reached.
It remains to be seen if Ripple consents. The cryptocurrency venture has estimated that going to court to fight the SEC will cost them around $200 million more than the settlement amount. Almost $1 billion will be spent overall as a result, money that could be used to fund innovation. According to the XRP coin price forecast, the token may expire this year at $0.98. That, given the circumstances, is still closer to $1. It goes without saying that volatility has the ability to ruin a token without warning.
Nevertheless, Ripple may want to reconsider how it plans to proceed with the SEC lawsuit. While reaching the milestone is desirable, they would rather not do so in a way that tarnishes their brand or isolates their group from the ecosystem.
