The post XRP Price Analysis: $1 on Cards Ahead Of Major Update on Ripple Vs SEC Lawsuit appeared first on Coinpedia Fintech News
After more than two years of anticipation, the Ripple and XRP community can finally find closure as the court has ruled in favor of revealing the Hinman documents to the public. The United States SEC has maintained its stance on the unsealing of these documents, which have the potential to expose the agency’s bias in relation to crypto market regulations. Additionally, the famous Hinman speech suggested that most digital assets may not fall under securities laws, but the current SEC chair holds a different perspective.
According to pro-crypto regulators in the United States, Gary Gensler, the current SEC chair, may be influenced by political pressure, as the Biden administration aims to establish a digital dollar and assert its dominance as the global reserve currency. The unsealed Hinman documents could mark the beginning of a series of victories for Ripple against the SEC in the final judgment ruling.
XRP Price Poised to Rally
The XRP price appears to be in a favorable position to rally beyond $0.53 following the unsealing of the Hinman documents today. From a technical standpoint, experts predict that the XRP price could surge by as much as 65 percent, reaching $1 in the coming days. Furthermore, the digital asset recently broke out of a macro logarithmic falling trend, demonstrating resilience by remaining above 52 cents during the recent altcoin capitulation.
Brad Garlinghouse, the CEO of Ripple, emphasizes the crucial role played by the unsealed Hinman documents in providing the jury with a valuable perspective on the ongoing case. In a recent tweet, Garlinghouse expressed his belief that the revelation of these documents was well worth the wait.