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Crypto News: XRP ETF speculation and the SEC v. Ripple litigation were discussed by Brad Garlingouse, CEO of Ripple. In an attempt to enter the cryptocurrency custodian market, the money remittance company recently purchased Standard Custody. XRP price at the time of writing is US$0.54 with a downfall of 0.73%.
According to CEO Brad Garlinghouse, Ripple has prevailed in many aspects of the SEC v. Ripple legal dispute. Garlinghouse is probably alluding to the July 13 order by Judge Analisa Torres, in which it was decided that XRP's secondary market transactions did not qualify as securities.
Garlinghouse informed Bloomberg that prior decisions in the SEC v. Ripple litigation indicate that the SEC has repeatedly lost its lawsuits against Coinbase and Ripple as well. As of Wednesday, the SEC v. Ripple litigation has progressed beyond the discovery stage about remedies.
Garlinghouse offered his opinions on how court decisions and enforcement actions have regulated the money remittance company. In a Tuesday interview with Bloomberg, the CEO of Ripple expressed his approval of the idea of a Ripple ETF and talked about its potential.
Garlinghouse demands greater clarity in the regulation of cryptocurrencies and predicts that the SEC will soon realize that it has been repeatedly unsuccessful in its legal battles with cryptocurrency companies.
XRP price is rising, and it is presently trading at US$0.545 for the cryptocurrency. The 61.8% and 78.6% Fibonacci retracement levels of the altcoins slide from the US$0.624 high to the January low provide resistance. On the way to US$0.624, the price of XRP is probably going to encounter resistance between US$0.571 and US$0.5943.
The cryptocurrency may find support around the 0.382 Fibonacci retracement level, or US$0.5446, on the downside. The bullish momentum in the price of XRP is supported by the Moving Average Convergence Divergence (MACD) indicator. The Awesome Oscillator (AO) red bar, on the other hand, indicates that an uptrend is probably not in place and that the price of XRP is likely to sweep through support before continuing to rise towards the US$0.6405 goal.
XRP's price forecast is bright, according to certain experts and analysts, who believe the company will overcome its legal issues and reap the rewards of its network expansion and innovation. CoinCodex, for instance, projects that XRP will trade between US$0.339 and US$1.699 in 2025, it will rise by 209.40%. The analyst predicts XRP price will trade between US$0.432 and US$1.764 in 2030.
The price prognosis for XRP is, however, also dangerous and unclear because of the numerous difficulties and roadblocks it must overcome, including market competition, legal pressure, and regulatory ambiguity. As shown by the Blue Ascending Triangle on the chart, for instance, NEWSBTC indicates that XRP is likely to reach its objective of US$1.3, but it also encounters resistance and volatility that may impede its advancement.
The price forecast for XRP is so unclear, and before making any judgments, enthusiasts and investors should exercise caution and due diligence. The way the price of XRP performs will probably be influenced by the progress and resolution of the legal dispute, the uptake and innovation of the Ripple network, and the mood and movement of the cryptocurrency market.
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