Crypto Express

06/11 00:07

Why XRP Price Growth Depends On Lawsuit Outcome?

So far, the long-running Ripple vs. SEC lawsuit has been a huge hindrance in suppressing the XRP price action over the years, and even now, today, its shadow continues to loom. 

Although the court’s rulings have been leaning toward a favorable outcome for Ripple. favour after several arguments made, and motions filed, its XRP price action is stuck around $2.

There is yet to be a final conclusion to the legal battle before the crowd goes all in for XRP.

Moreover, this legal decision will soon declare the final verdict, as the granted 60-day deadline is coming to an end on June 16. If the courts rule in favour, then this could spark a fresh rally in XRP price and possibly drive new investments. 

As the final verdict is heard, the odds of clearing XRP ETF would accelerate as Franklin Templeton, which has filed a spot XRP ETF application for the Franklin XRP Fund, has an intermediate deadline of June 17. This date is very crucial as it would be just after the final verdict.

On this date, the SEC is required to submit a status report regarding the progress towards resolving the case with Ripple.

Both events are catalystic; if they successfully end in XRP’s favor, then reaching previous ATH  would be a piece of cake for the crypto. This makes June a key month to watch for future moves in XRP’s price action.

In addition, there have also been advances in global liquidity, and as the equity market and Bitcoin are expected to advance, the XRP price will increase in tandem as one of the top 5.

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