The Ripple community remains enthusiastic about the potential price of XRP, despite the uncertainty of the ongoing lawsuit between Ripple and the SEC. If legal circumstances favor the coin, there is a high possibility that XRP could reach $0.8.
Currently, XRP is trading at $0.608, showing a 0.22% increase in the past 24 hours. However, it has faced resistance in surpassing the $0.60 mark throughout the week. This resistance coincides with the approaching deadline of the SEC vs. Ripple case, scheduled for April 22. On this date, Ripple is expected to file its opposing brief related to the remedy. The SEC will then have until May 6 to respond to Ripple’s opposition. Legal experts predict that Ripple has a strong chance of winning the case, considering their previous partial victory when XRP was classified as a non-security by District Judge Analisa Torres.
XRP investors are eagerly awaiting updates on the court case and closely following statements from influential figures in the crypto industry and legal professionals. Lawyer Bill Morgan, who supports Ripple, has recently provided insights on the SEC’s arguments against Ripple in briefings, which is valuable information for investors navigating the legal uncertainty.
While predicting the price of a cryptocurrency is challenging due to its volatility, there is a high probability that XRP could climb to $0.80 this week. The current increase in trading volumes by 60.69% to $2 billion in the past 24 hours indicates strong investor interest in XRP. XRP is currently ranked 6th in the Layer 1 sector with a market capitalization of $33.5 billion. The Fear & Greed Index shows extreme greed at 80, and XRP’s circulating supply is 55.05 billion out of a maximum supply of 100 billion XRP.
Brad Garlinghouse, Ripple’s CEO, believes that the overall crypto market will reach a total worth of $5 trillion by the end of the year, which will have a positive impact on XRP. If this prediction materializes, the price of XRP could soar to $1.50. It’s worth noting that Ripple has previously surpassed the $0.80 mark, indicating its potential to do so again. However, investors and traders are advised to exercise caution as there are no guarantees of the price reaching $0.80 this week.