{"id":17415,"date":"2023-06-02T18:43:30","date_gmt":"2023-06-02T22:43:30","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/xrp-price-prediction-as-hinman-documents-set-to-be-released-can-xrp-100x-after-lawsuit-ends\/"},"modified":"2023-06-02T18:43:31","modified_gmt":"2023-06-02T22:43:31","slug":"xrp-price-prediction-as-hinman-documents-set-to-be-released-can-xrp-100x-after-lawsuit-ends","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=17415","title":{"rendered":"XRP Price Prediction as Hinman Documents Set to be Released \u2013 Can XRP 100x After Lawsuit Ends?"},"content":{"rendered":"
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XRP is back above $0.50 per token once again on Friday, as the world\u2019s sixth-largest cryptocurrency by market capitalization looks to reignite momentum following a strong bullish run in the past three weeks.<\/p>\n

XRP is the native cryptocurrency of the XRP Ledger, a decentralized layer-1 blockchain protocol launched by US fintech company Ripple back in June 2012 to facilitate their revolutionary cross-border payment and liquidity business.<\/p>\n

The cryptocurrency was last changing hands just under $0.52, up a little over 2.0% on Friday, up more than 26% versus its mid-May lows in the $0.41 area.<\/p>\n

Meanwhile, XRP recently broke to the north of a downtrend from the yearly highs, helped by recent positive developments in Ripple\u2019s ongoing lawsuit versus the SEC, surging above its 21 and 50-Day Moving Averages in the process.<\/p>\n

Price predictions have been resoundingly bullish ever since.<\/p>\n

Price Prediction \u2013 Where Next for XRP?<\/strong><\/h2>\n

Chart analysis suggests that XRP remains on course to retest its yearly highs in the $0.58 area.<\/p>\n

That\u2019s because, aside from the mid-April highs in the $0.55 area, there are no key areas of resistance to prevent the ascent.<\/p>\n

Meanwhile, investors remain bullish on the likelihood that Ripple will secure a favorable outcome in the ongoing lawsuit versus the SEC, who accused the fintech company of issuing over $1 billion worth of XRP as unregistered securities back in December 2020.<\/p>\n

However, in ten days\u2019 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 that is 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.<\/p>\n

Investors have thus been increasingly betting on a favorable outcome for Ripple that should boost the firm\u2019s payments business, thus handing a massive boost to XRP demand in the process.<\/p>\n

And its not just the XRP price that has been pumping as of late.<\/p>\n

Activity on the XRP Ledger has also been surging, as highlighted recently by on-chain analytics firm Santiment.<\/p>\n

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Can XRP 100x After the Lawsuit Ends?<\/strong><\/h2>\n

A favorable ruling or outcome to the Ripple vs SEC lawsuit should deliver a massive boost to XRP as cloud of uncertainty is lifted regarding the tokens status (as a security or digital commodity) and for Ripple\u2019s business.<\/p>\n

XRP\u2019s 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).<\/p>\n

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.<\/p>\n

100x gains to a market cap of $2.7 trillion in the near future is probably overly optimistic.<\/p>\n

But never say never.<\/p>\n

If Bitcoin reaches a market cap similar to that of gold (of over $11 trillion), and Ripple\u2019s business continues to roar (let\u2019s say the world\u2019s major financial institutions pile in to use its cross-border liquidity services), we shouldn\u2019t rule out XRP becoming a multi-trillion dollar market cap coin.<\/p>\n

XRP (XRP) Alternatives to Consider<\/strong><\/h2>\n

Investors should always be on the lookout to diversify their crypto holdings.<\/p>\n

One high-risk-high-reward investment strategy that some investors might want to consider is getting involved in crypto presales.<\/p>\n

This is where investors buy the tokens of up-start crypto projects to help fund their development.<\/p>\n

These tokens are nearly always sold very cheap and there is a long history of presales delivering huge exponential gains to early investors.<\/p>\n

Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application\/platform.<\/p>\n

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

The team at Cryptonews spends a lot of time combing through presale projects to help investors out.<\/p>\n

Here is a list of 15 of what the project deems as the best crypto presales of 2023.<\/p>\n

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.<\/sup><\/i><\/p>\n<\/p><\/div>\n