The XRP community hopes the token will see a big price surge in 2022, based on the assumption that Ripple may win a long legal battle with the US Securities and Exchange Commission (SEC).
Back on September 29, District Court Judge Analisa Torres hadorder toSubmissions committee written by William Hinman, former director of corporate finance at the US SEC.
Hinman may have written about Ether (ETH), the original token of the Ethereum blockchain, as not a hidden document, which Ripple regarded the statement as a key piece of evidence that the SEC attacked Ripple for violating US securities laws.
#XRPCommunity #SECGov v. #Ripple #XRP 1/4 Some thoughts on the next steps in the quest for the Hinman documents. The SEC has a number of procedural cards they can play to try to further delay complying with the order to produce the Hinman documents.
— James K. Filan
118k (beware of imposters) (@FilanLaw) September 30, 2022
Ripple can use Hinman’s writing as proof that XRP tokens should not be considered securities. This is contrary to what the SEC claims in the lawsuit thatFiled in December 2020
XRP has been stripped of many regulated crypto exchanges, including Coinbase and Bitstamp, as a result, is now one of the leading crypto exchanges. cryptocurrencies The only leading position yet to recover or set a new record during the 2020-2021 crypto market growth, reflecting investor caution.
The price of XRP may rise to the next Fib line near $0.72, a more than 50% increase from the October price. but vice versa The drop could also cause XRP to break to its previous support level of $0.31, a 35% drop from the current price level.
DonAlt, an independent market analyst, said: “If they win all the cases, XRP price will be heavily pumped, but if they lose, the price will probably drop -50%. Plus, losing XRP will put other cryptos at more risk. So we should encourage them.”
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