XRP Price Prediction if It Wins Lawsuit

Crypto Signals on XRP 2020 was a striking year for cryptocurrencies as it ended with the most prominent bull run since late 2017. Coins reached new all-time highs, with Bitcoin leading the cryptocurrency bull run charge.

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The price of Bitcoin reached its highest peak of over $58,000, and other prominent altcoins such as Ethereum and Binance Coin capitalized on the market growth. XRP, the native token of Ripple, did not mimic its early 2018 rally when it surpassed $3. However, the financial-oriented payment network increased its market cap during the emerging bull run.

Larsen for failing to register the network’s native token as a security. The multi-billion-dollar lawsuit targeted Ripple’s activity from 2013 onwards. However, the filing at the Southern District Court in New York is viewed with skepticism in the crypto space.

What is XRP?

Ripple has reframed how the XRP token required to conduct cross-border financial transactions fits within the blockchain ecosystem. Unlike Bitcoin, which holds an intrinsic value and is not a security according to the SEC, XRP facilitates money transfers between different countries and financial institutions. Its value resides in its fast processing speed. That is why their MoneyGram partnership saw Ripple put its XRP token to good use as it faced a backlash from the crypto community for being a financial token.

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Unlike Bitcoin or Ethereum, where new coins are created through the mining process as a reward, the XRP amount is limited to 100 billion coins. XRP tokens are distributed to companies and financial institutions such as Santander (MC:SAN), the Commonwealth Bank of Australia (OTC:CMWAY), or MoneyGram to create fast transactions through the Ripple network and avoid high conversion fees. Ripple is thus a payment network between institutions that helps decrease conversion and payment fees by relying on the xRapid network.

What’s Going On With XRP During The Lawsuit?

The lawsuit concerning Ripple’s activities from 2013 to the present is slightly peculiar as it was filed in the final moments of the previous administration and is considered to be a means to stomp.

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Although the market has turned south on the XRP token, analysis indicates the price is becoming stable, with an upward trend and a signal for a potential breakout for the token. At the time of writing, XRP has a market cap of over $20 billion and a single unit price of $0.44, less than 5% down from the previous week.

XRP Price Prediction if It Wins Lawsuit

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