- Lawyer Bill Morgan says the outcome of the Ripple SEC case will no longer affect XRP’s price
- He argues the 4-year case has lost its power, with recent news having little market impact
- The XRP community now views a spot ETF approval as the next major catalyst for the price
Renowned crypto lawyer Bill Morgan has delivered a sobering new take on the Ripple vs. SEC case, arguing that its final outcome will no longer have a significant impact on the price of XRP.
In his latest post on X, Morgan noted that stretching the case for so long might have absorbed the potential energy needed for XRP price to be affected, regardless of which side ultimately wins.
Why Does the Lawsuit No longer Have an Impact?
Morgan highlighted posts from a few years ago that predicted that XRP would explode if Ripple defeats the SEC in the legal battle. Although such predictions were valid over three years ago, even JP Morgan’s opinion on the litigation’s outcome from that time is no longer valid. According to Morgan, there is nothing left in the dying embers of the case that can significantly affect XRP’s price.
Related: XRP Breaks Out of a Minor Channel to Set the Stage for an Upsurge
For context, Morgan noted that news items over the past 18 months have not affected XRP’s price. Despite several outcomes seeming to align with a favorable result for Ripple in the case, nothing much happens around XRP’s price. The digital asset has relied on the effect of macroeconomic developments and the general crypto market heartbeat to rise or fall.
ETF approval is the new catalyst for XRP price
Although many XRP community members agree with Morgan’s opinion on the court case’s potential effect on XRP, they believe that XRP will experience a boost in demand when the SEC approves the multiple spot XRP ETF applications on its table. It is worth noting that notable asset management firms, including Grayscale and Franklin Templeton, are among the several companies awaiting the SEC’s approval of their XRP ETF requests.
Related: XRP ETF Rumors Swirl as BlackRock Pressures SEC, Ripple Drops Cross Appeal
For context, spot ETFs provide an avenue for institutional investors to enter the crypto market through a regulated channel. Typically, it boosts the demand for the specific cryptocurrency, directly affecting the price. The Bitcoin ETFs approved in January 2024 formed the tailwind behind BTC’s bullish momentum, which has lasted for over a year.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
