Renowned crypto analyst Ben Armstrong recently shared insights on Ripple’s legal battle with the U.S. SEC and speculated on the potential settlement outcome. In a detailed video, Armstrong highlighted key developments and offered optimistic price predictions for XRP’s future.
SEC Lawsuit Settlement Speculation
Addressing the SEC lawsuit, Armstrong discussed the ongoing legal proceedings and Ripple’s request for a time extension following the February 5 court ruling. He mentioned the possibility of a $10 million settlement, noting, “I think they would gladly pay the $10 million…to end this entire thing.”
Bullish XRP Predictions
Armstrong emphasized the significance of Ripple’s XRP adoption in America, stating, “Adoption of XRP is what we all care about…we want to see the banks take on the Ripple software and start settling in the XRP token.” He underlined the importance of wholesale adoption, suggesting mutual benefits for investors and financial institutions.
Analyzing XRP’s price, Armstrong predicted, “XRP to $1 on February 29th…the haters are going to say it never happened.”
He remained optimistic about further gains, suggesting a possible $2 milestone, despite acknowledging the coin’s historical volatility.
Ben highlighted Ripple’s international partnerships and contrasted them with the relative silence in America due to the SEC case. Referring to Ripple’s product lead Oliver, he hinted at significant developments in the American market, stating,
“They’re about to start making use of a lot of their financial instruments and things that they have there.”
He also mentioned about Ripple’s upcoming meetup at its headquarters, where company executives, including CTO David Schwartz, would discuss plans for 2024. He anticipated insights into Ripple’s expansion strategies, quoting, “There’s about to be big movement with XRP when it comes to adoption here in America.”
cCrypto expert Ben Armstrong’s insights have shed light on Ripple’s legal challenges, potential settlement outcomes, and a bullish outlook for XRP’s future.