The price of XRP, the cryptocurrency associated with Ripple, has risen around 3% over the past day. This uptick has crypto analysts speculating that a larger bull run could be on the horizon for XRP.
Several prominent traders have made bold predictions about XRP’s future price potential if the momentum continues. Some are targeting XRP to hit $20 or higher in an optimistic scenario. The bullish outlook is being fueled by the impending resolution of Ripple’s long-running legal battle with the U.S. Securities and Exchange Commission (SEC).
The SEC sued Ripple in 2020, alleging that XRP sales violated securities laws. The case is set to go to trial on April 23rd as it enters its final phase. While the SEC initially sought $2 billion in fines from Ripple, the company argues any penalty should be capped at $10 million.
The outcome of this high-stakes case is seen as pivotal for XRP’s regulatory status and future adoption. Ripple’s chief legal officer stated they are “confident” the judge will approach the remedies phase “fairly.”
As the crypto world awaits the verdict, traders are positioning for XRP to make a major move, with some extremely bullish projections if the ruling goes Ripple’s way.
