- Ripple (XRP) is set for a significant rally that will trigger if it wins the ongoing case.
- According to Michael van de Poppe, climbing above $0.5025 would trigger XRP to higher levels.
- Many crypto users believe winning the case will catalyze a significant rally in the price of XRP.
Ripple (XRP) is set for a significant rally that will trigger if it wins the ongoing case against the Securities and Exchange Commission (SEC). According to Michael van de Poppe, founder of MN Trading, climbing above $0.5025 would trigger XRP’s movement toward higher price levels.
Many crypto users, including respondents under Van de Poppe’s tweet, believe that winning the case will catalyze a significant rally in the price of XRP. According to a Twitter user identifying as Crypto Viking, XRP will go much higher once it wins the case. For now, he believes nothing significant will happen to XRP’s price.
On June 10, 2023, a crypto analyst on Twitter identifying as Bobby A shared a chart analysis and predicted that XRP is following the steps of Bitcoin from 2017 – 2021, just a bit slower. According to him, XRP has broken out to the upside just before the case resolution. Bobby believes if things go as he expects and the case goes in Ripple’s favor, the XRP price could rally to $13.
XRP is one of the top cryptocurrencies based on market capitalization. With a market cap of $25,631,450,778, it ranks sixth among all cryptocurrencies listed on CoinmarketCap. 52,254,289,650 XRP tokens are currently in circulation, marking 52.25% of XRP’s maximum supply which is at 100,000,000,000 XRP.
The sixth-ranked cryptocurrency is currently facing litigation from the SEC. The case accused Ripple, and two of its executives, Brad Garlinghouse and Christian Larsen, of selling unregulated securities valued at more than $1.3 billion to the public.
The case has been in court since 2020, and the crypto community believes the matter is nearing its conclusion. Almost every crypto user expects the case’s outcome to have direct implications for XRP’s future.
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