TL;DR

• Ripple was fined $125 million, acold little than the $2 cardinal the SEC initially sought, starring to a 20% spike successful XRP ($1.99)’s price.
• The token’s aboriginal rally depends connected factors similar marketplace conditions and ineligible developments, with imaginable further gains influenced by Bitcoin’s performance.

Is XRP Setting the Stage for a New Peak?

The suit betwixt Ripple and the US Securities and Exchange Commission (SEC) witnessed a major improvement earlier this week erstwhile Judge Analisa Torres ruled that the institution indispensable wage a $125 cardinal good for violating certain securities laws. 

The sum is conscionable a fraction of the whopping $2 cardinal the regulator initially demanded, making galore manufacture participants presumption the determination arsenic a ground-breaking triumph for Ripple. 

The terms of its autochthonal token – XRP – reacted much than positively, spiking by 20% instantly aft the quality broke. At 1 point, it neared $0.64, portion currently, it trades astatine astir $0.58 (per CoinGecko’s data).

We decided to inquire ChatGPT whether the post-settlement momentum could effect successful a all-time precocious (ATH) for XRP earlier the extremity of 2024.

The fashionable AI-powered chatbot noted that the tribunal ruling provided a important boost to the token’s terms and marketplace sentiment but estimated that a bull tally would beryllium connected the case’s authoritative end.

As CryptoPotato reported, the ineligible conflict mightiness resistance connected a bit longer owed to imaginable appeals from some sides. Ripple’s plea is highly improbable considering the CEO’s statement, who described the ruling arsenic “a victory” and said his entity would abide by the rules. 

The watchdog seems much apt to appeal. Nonetheless, aggregate X users assumed that specified a determination would not beryllium omniscient fixed the upcoming statesmanlike elections successful the United States.

“If the SEC would determine to entreaty the Ripple case, they would person to entreaty close earlier the US statesmanlike election, which would beryllium the worst timing imaginable for the SEC and Gensler,” 1 person suggested.

Additional Factors

ChatGPT further claimed that XRP’s imaginable ascent to a caller ATH would trust connected assorted different elements, including accrued adoption, favorable marketplace conditions, planetary regulations, economical stability, and more. It estimated that a bull tally mightiness besides beryllium partially fueled by Bitcoin’s (BTC ($88,747.00)) influence:

“Bitcoin often leads marketplace trends. If Bitcoin experiences important growth, it could assistance different cryptocurrencies, including XRP.”

The superior cryptocurrency experienced a terrible clang connected August 5, plummeting beneath $50,000 for the archetypal clip successful six months. In the pursuing days, it recorded an awesome comeback, concisely rising to arsenic precocious arsenic $62,500. For its part, the planetary cryptocurrency marketplace capitalization jumped backmost to supra $2.2 trillion.

The station Is XRP ATH Possible Following the Latest Ripple v SEC Development? (ChatGPT’s Analysis) appeared archetypal connected CryptoPotato.