Attorney Jeremy Hogan from the Ripple community believes that Ripple will settle the SEC case by April 2022. Analysts are expecting a new all-time high ahead this year for XRP.
Well, the Ripple vs the US SEC battle could come to its conclusion this year after months of legal hearings. Ripple and the SEC have been locked in a legal battle after the securities regulator slapped charges in December 2020 for selling XRP as unregistered securities during the 2013 ICO.
Over the last year, Ripple has also been defending its position tooth and nail claiming no wrongdoing. For now, it also seems that the ball is in ripple’s court as the crypto firm could be heading for a victory.
Jeremy Hogan, a proponent and lawyer in the Ripple community said that the case is coming closer to its conclusion. Attorney Jeremy Hogan noted that the SEC’s lawsuit could be finalized by April 2022. But Hogan is not the first to predict this good news for Ripple.
In fact, last year in November, Ripple CEO Brad Garlinghouse also made this bold claim. Garlinghouse said that the company will settle scores with the US Securities and Exchange Commission (SEC) this year. During his CNBC interview, the Ripple CEO noted:
“We’re seeing pretty good progress despite a slow-moving judicial process. Clearly we’re seeing good questions asked by the judge. And I think the judge realizes this is not just about Ripple, this will have broader implications.”
Will XRP See a Mega Bull Run in 2022?
Post the SEC case, Ripple’s native cryptocurrency XRP has struggled to keep up with the market rally. The XRP price plunged earlier in January last year as the investors’ sentiment turned downwards.
Furthermore, several of the Ripple partners started distancing themselves in order to avoid any scuffle with the U.S. Securities and Exchange Commission (SEC). Thus, XRP didn’t participate much in the altcoin market rally of 2021 to the extent that it should.
In fact, it has been continuously dropping down the ranks losing the grounds to other emerging cryptocurrencies. However, XRP still retains its position in the top ten crypto list. As of press time, XRP is trading at a price of $0.83 with a market cap of $40.1 billion.
If ripple manages to win this case, analysts are predicting a major rally ahead in the XRP price in 2022. Some analysts believe that XRP can cross past its previous all-time high if of $3.4 while others expect it to hit double digits.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
