XRP (RIPPLE): The Best Utility Token and Ripple Win Against SEC (PART 2) (Updated Version)
Continuation of the previous part (Part 1)
Price of XRP and Future Price Prediction
1. Price of XRP
All time high (ATH): 3.92 U.S. dollar (4th of January 2018)
All time low (ATH): 0.002802 U.S. dollar ( 7th of July 2014)
2. Future Price Prediction
Conservative Views: 5-10 U.S. dollar
Reason: Most of the conservative views come from people who rely on the chart itself and from technical analysis points of view. They also use the market cap logic in predicting XRP future price.
Optimistic Views: More than 100 U.S. dollar, 589 U.S. dollar, 1000-10000 U.S. dollar
Reason:-
More than 100 U.S. dollar
Some say it will happen because of the burn rate for XRP that happens during a transaction. In simpler terms, more institutions use XRP, more burn rates happen, supply keeps decreasing, and the supply needs to keep up with the demand, and the price will increase because of supply and demand.
589 U.S. dollar
This one is really interesting because there are rumours that this price comes from The Simpsons Show. Yes, that shows a show that keeps predicting the future, and a lot of it comes true. But some say its fake.It become a lot more weird when Brad Garlinghouse (Ripple CEO), X (Twitter) real account always try to keep the “following” number precisely at 589, is it a joke or a sign, who knows. But most XRP investors that have optimistic views believe that XRP will reach this price sooner rather than later.
1000-10000 U.S. dollar and more
So, this is where a lot of reliable and unreliable theories that predict XRP future prices will come into play. First of all, there are a lot of people in the XRP community that speculate that XRP can reach 1000 U.S. dollar and more because of the recent development that was made by Ripple such as working with country that want to develop their Central Bank Digital Currency (CBDC), the Palau stablecoin that is run on XRP Ledger and Ripple gaining membership in International Swap and Derivatives Market. Other than that, the research that was done by VC firm Valhil Capital has projected that the pair price for XRP is around 3500-21900 U.S. dollar via the XRP Valuation Model Comparison.
Timeline of Ripple VS Security and Exchange Commision (SEC)
As most XRP community members know, Ripple has gotten into legal dispute with the SEC in 2020 because of the SEC move in labelling XRP as a security and bringing Ripple into the court. On July 13, 2023, Judge Analisa Torres rules that XRP itself is not a security and that achievement by Ripple and XRP bring great humiliation to the SEC. Based on the Ripple Chief Legal Officer, the ruling about XRP is not a security can not be a challenge, period.
Timeline
21st of December 2020: The SEC files a lawsuit against Ripple Labs and labelling XRP, a security
3rd of March 2021: Larsen and Garlinghouse summitted letter to the court challenging SEC’s fair notice
8th of March 2021: SEC requested immediate hearing in of Larsen and Garlinghouse letter
22nd of March 2021: Judge Sarah Netburn that XRP has a currency value and utility
24th of January 2022: Judge Sarah Netburn gave an extension for sensitive document disclosure
17th of September 2022: SEC and Ripple Labs file initial motions for summary jugdement
2nd of December 2022: Reply to summary judgement motion made public
22nd of December 2022: SEC applied to prevent public release of Hinman document
12th of June 2023: Hinman document made public
13th of July 2023: Ripple Labs wins the case
4th of October 2023: The SEC interlocutory appeal was denied by the judge
19th of October 2023: SEC dropped the charges against Brad Garlinghouse and Chris Larsen
There a lot of event happening surrounding this case between 13th of July until 4th of October 2023 and I need to do more research on that stuff. Future updates will be given if there is a settlement or when the case is fully done.
End of Part 2
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