Despite concerns raised by analysts about the potential for XRP to end on a high note, there are several macro and micro factors that could significantly impact the token’s price. These factors include ongoing legal battles, the possibility of a settlement between Ripple and the US Securities and Exchange Commission (SEC), as well as Ripple’s efforts to expand its business globally. Analyzing these factors can help us understand the potential trajectory of XRP.
The Possible Outcome of the SEC Appeal
On August 17, Judge Analisa Torres authorized the US Securities and Exchange Commission (SEC) to file a motion seeking an interlocutory appeal. While this is not an approval of the SEC’s appeal itself, it has created anticipation within the XRP community. The court now has the option to either accept or reject the appeal based on the grounds provided. Former SEC official Marc Fogel has noted that the specific requirements for an interlocutory appeal are challenging to meet, suggesting that the odds are against the SEC. If the court denies the SEC’s request, XRP could see a significant price increase similar to what happened after Judge Torres’ ruling.
Another factor that could contribute to an upward trend for XRP is the possibility of a settlement between Ripple and the SEC. Some stakeholders within the crypto community have speculated on the feasibility of this outcome. Pro-XRP legal expert John Deaton has suggested that if Judge Failla grants Coinbase’s motion to dismiss the SEC’s lawsuit, a settlement could be more likely. This scenario would likely involve the adoption of Judge Torres’ ruling, which distinguished programmatic sales from investment contracts. If the SEC is faced with the growing realization that it lacks jurisdiction over token sales on exchanges, a settlement could become a more favorable option for them. A settlement between Ripple and the SEC would restore investor confidence and potentially lead to a price increase for XRP.
The revelations surrounding the ETH Gate scandal could also have significant implications for the SEC’s case against Ripple. As damage control, the SEC may choose to propose a settlement rather than risk exposing its credibility during a trial. A settlement between Ripple and the SEC, even if not publicly announced, would be considered a major victory for Ripple and could result in restored investor confidence. Such a development could lead to a price increase for XRP.
Ripple’s Resilience and Expansion
Ripple has shown resilience throughout its long-running battle with the SEC. In fact, Ripple’s President, Monica Lang, has stated that the court case has helped the company expand its business both in the US and globally. The clarity provided by Judge Torres’ ruling has allowed Ripple to establish a clear framework for its operations, especially in the face of regulatory uncertainty. Furthermore, Ripple’s general counsel, Stuart Alderoty, has hinted at potential talks with US financial firms regarding the adoption of Ripple’s On-Demand Liquidity (ODL) product. Such discussions could signal a bullish opportunity for the XRP community and demonstrate Ripple’s progress in penetrating the American market.
There are also rumors circulating that Ripple may go public, with speculation of an initial public offering (IPO) announcement at their upcoming event in New York on September 29. This anticipation has generated buzz within the XRP community and could increase interest in the company. The announcement of an IPO would be significant and could positively impact XRP’s price.
While XRP’s future remains uncertain, there are several factors that could influence its price trajectory. The outcome of the SEC appeal, the possibility of a settlement, Ripple’s resilience and expansion, and the potential for an IPO announcement all contribute to this uncertainty. As the XRP community eagerly awaits these developments, it is crucial to closely monitor these factors to assess the potential impact on XRP’s price in the coming months.