Will XRP price increase 100x after lawsuit once Hinman documents are released?

XRP, which is the sixth-largest cryptocurrency by market capitalization, has risen above $0.50 per token once again on Friday. This comes as the cryptocurrency looks to regain momentum following a strong bullish run in the past three weeks.

The XRP Ledger is a decentralized layer-1 blockchain protocol launched by US fintech company Ripple back in June 2012. It facilitates their revolutionary cross-border payment and liquidity business and XRP is its native cryptocurrency.

The cryptocurrency is currently trading at just under $0.52, up a little over 2.0% on Friday, and up more than 26% versus its mid-May lows in the $0.41 area.

XRP recently broke out of a downtrend from the yearly highs, helped by recent positive developments in Ripple’s ongoing lawsuit versus the SEC. It has surged above its 21 and 50-Day Moving Averages in the process, resulting in resoundingly bullish price predictions.

Price Prediction – Where Next for XRP?

Chart analysis suggests that XRP remains on course to retest its yearly highs in the $0.58 area. This is because, aside from the mid-April highs in the $0.55 area, there are no key areas of resistance to prevent the ascent.

Investors are bullish on the likelihood that Ripple will secure a favorable outcome in the ongoing lawsuit versus the SEC. The SEC had accused the fintech company of issuing over $1 billion worth of XRP as unregistered securities back in December 2020. However, in ten days’ time, the SEC is being forced by the judge presiding over the lawsuit to release documents relating to a speech former SEC Chairman William Hinman made on cryptocurrencies. These documents are expected to show that the SEC was, at the time, unsure as to whether XRP was a security or not, undermining the agencies argument that Ripple issued XRP as a security. Investors have thus been increasingly betting on a favorable outcome for Ripple that should boost the firm’s payments business, thus handing a massive boost to XRP demand in the process.

Activity on the XRP Ledger has also been surging, as highlighted recently by on-chain analytics firm Santiment.

Can XRP 100x After the Lawsuit Ends?

A favorable ruling or outcome to the Ripple vs SEC lawsuit should deliver a massive boost to XRP as the cloud of uncertainty is lifted regarding the token’s status (as a security or digital commodity) and for Ripple’s business. XRP’s market capitalization is currently around $27 billion and analysts are talking about how a favorable ruling could deliver quick exponential gains, assuming the broader crypto market continues to perform well (which a favorable SEC vs Ripple lawsuit ruling should help with, anyway).

10x gains to around $270 billion are a reasonable target for the next two to three years assuming the likes of Bitcoin and Ethereum also post solid 4-5x gains over the same time period.

100x gains to a market cap of $2.7 trillion in the near future is probably overly optimistic. But never say never. If Bitcoin reaches a market cap similar to that of gold (of over $11 trillion), and Ripple’s business continues to roar (let’s say the world’s major financial institutions pile in to use its cross-border liquidity services), we shouldn’t rule out XRP becoming a multi-trillion dollar market cap coin.

XRP (XRP) Alternatives to Consider

Investors should always be on the lookout to diversify their crypto holdings. One high-risk-high-reward investment strategy that some investors might want to consider is getting involved in crypto presales. This is where investors buy the tokens of up-start crypto projects to help fund their development. These tokens are nearly always sold very cheap and there is a long history of presales delivering huge exponential gains to early investors. Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.

If an investor can identify such projects, the risk/reward of their presale investment is very good.

The team at blockchain spends a lot of time combing through presale projects to help investors out.

Here is a list of 15 of what the project deems as the best crypto presales of 2023.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of blockchain.com.

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