Ripple’s fight with the SEC for over 30 months is now a significant green flag for the entire crypto space. The SEC went behind Kraken, Genesis, Gemini, LBRY, Justin Sun, and, recently added to the list, Coinbase. The lawsuit is also an eye-opener for those who believed XRP was a joke, as the prices maintained their strength regardless of the ups and downs in the case.
Now that the lawsuit is believed to have reached its destination, the impact on the price will be closely monitored.
Despite the claims that XRP is centralized, Ripple Labs has not remained aloof from the rest of the world. In the ongoing struggle with the SEC, the company claims its business has never been better than it is now, as institutions have shown interest in implementing the crypto-powered payment rails.
In the recent update, the XRPL accounts have been surging pretty high and are approaching 5 million, despite immense external pressure.
Hence, the ruling, which is largely considered to be in favor of Ripple, may impact the price and cause it to rise beyond the major resistance.
XRP price recently underwent the very first ‘Golden Cross’ but it had a mere impact on the price, which remained largely consolidated. However, the price has regained its levels beyond the major resistance at $0.51, which is flashing bullish signals for the crypto. The XRP price may surge beyond $0.55 in the coming weekend or in the first few days of the coming week and offer a strong base for the token to leap long on the procurement of the final ruling.
