In a YouTube video titled “Here Come The #XRP Pump!!! Are You Ready For XRP To Break $1.00,” Matthew Perry, a crypto analyst, delves into the potential for XRP’s price to reach $1 soon.The analyst begins by discussing current market conditions. He emphasized that the overall market has not been positive, but over the past 24 hours, the market has seen some increase.
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Perry noted that XRP’s price has increased by 5% in just one day and over the last week. Its trading volume also saw a 71% surge, which means more people are buying XRP as the SEC’s appeal deadline gets closer. At press time, XRP is trading at $0.622.
The analyst mentioned that these last four years have seen XRP’s price struggle. He noted that this is because of the SEC vs. Ripple case. However, a successful outcome can spark a substantial price increase and pique investor interest even further.
As the SEC’s appeal deadline approaches on October 6th, the crypto community is keenly monitoring any developments. Should the SEC choose not to appeal the recent ruling, Ripple could operate without regulatory limitations, potentially enabling XRP to flourish.
Conversely, an appeal would likely prolong the legal battle, restricting XRP’s price performance during the next bull market.
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The SEC Lawsuit and Its Effects
The SEC’s categorization of Ripple’s institutional token sales is the source of Ripple’s legal issues. Investors now have some certainty as retail transactions have been determined not to be securities.
Moreover, in exchange for the freedom to form alliances and carry on with its development work, Ripple is expected to pay a $125 million fee. This legal backdrop has created a mixed sentiment in the market.
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The post Could Ripple’s (XRP) Price Cross the $1 Mark Soon? Here’s the Outlook appeared first on CaptainAltcoin.
