According to CoinMarketCap, XRP rates at sixth with a market capitalization of around $40 billion, putting it in sixth place overall. Certain parties are hopeful that the latest case involving the SEC and Ripple will result in some constructive action. Right now, the price of XRP is $0.8404, according to the most recent data.
Ripple Holders’ Lawyer Predicts SEC’s Next Move
A lot of people like XRP because it has done a good job of comparing itself to other cryptocurrencies. Long-term and short-term investors have found this cryptocurrency to be one of the best options. It is because of how well it has performed and how the protocol’s ecosystem has changed over the last year or so.
This comes after the judge had opened three distinct documents. However, John Deaton, a crypto attorney who represents over 64,000 XRP holders. It has proposed a number of options for calming the situation. First, he stated that the SEC will most likely take two actions.
Brad Garlinghouse was fired as CEO of Ripple after a chain of emails and a letter were found. In addition, there is the inscription of Chris Larsen, a Ripple executive. As Deaton said, it would be almost impossible to prove a link between Ripple’s public announcements and the price of XRP, which is what he said. That’s not all, he also said that the SEC would have to make sure that Garlinghouse and Larsen could sell XRP tokens in the US.
Deaton hasn’t been able to read the document that has been opened. Even though he is an amicus consultant on the case. Furthermore, the lawyer is wondering if the SEC could ask Ripple to set up a secondary market for XRP. If they don’t know that two Ripple employees are selling XRP in the United States, they might try this as an alternative method of getting rid of the money.
What Now for XRP?
The price of Ripple rising sharply in the face of its upswing, which is heading in the direction of its target of $0.90. However, it is possible that the cryptocurrency would find challenges in its efforts to achieve its goals.