As Ripple and the SEC are embroiled in a lawsuit and a ton of court proceedings, many investors believe that the outcome will most likely be in favour of Ripple.
Ripple vs. SEC Lawsuit Summary
In case you didn’t know, a US financial regulator, the Securities and Exchange Commission (SEC), filed a lawsuit against Ripple Labs Inc. and its executives in 2020. And accused Ripple of raising over $1.3 billion through illegal means.
Ripple Labs sold XRP tokens to raise $1.3 billion in capital between 2013 and 2020. The SEC believes that the company raised funds illegally because XRP was not registered as a security. However, XRP was offered to investors worldwide.
The SEC further alleges that Ripple Labs used market services for non-cash transactions, for which they paid in XRP (the native cryptocurrency of the Ripple network) in order to boost token sales.
The outcome of the SEC vs. Ripple lawsuit will set a precedent for the crypto industry. If Ripple wins its battle against the SEC, the token will be classified as a “security” and listed on American exchanges.
XRP is one of the few big cryptocurrencies that failed to reach an all-time high during the bull market of 2020–2021. The lawsuit caused the price of XRP to plummet, making cryptocurrency holders the main victims of the SEC vs. Ripple saga.
Future Outlook of XRP
The outcome of the aforementioned lawsuit will undoubtedly have a significant impact on the price of XRP. A lot of investors believe that XRP can touch the $1 mark in the near future. Given that it crossed the $1 mark last year (52-week high) and has recorded an all-time high of $3.84, it is very likely that XRP will cross the $1 mark in the coming months or years.
How Much Money You Would Make, if XRP Reaches $1?
Let’s assume that you invested $100 in XRP today. XRP is currently trading at $0.3816. At this rate, you will have 262.05 XRP tokens. When it reaches $1 in value, your $100 investment will be worth $262, an approximately 262% return on investment (ROI).
Likewise, if you buy $1000 worth of XRP tokens today at this price, you will have 2620.5 XRP tokens. If you liquidate these at $1 each, you can make $2620.5.
If you are thinking, “This is not a very astronomical ROI,” please bear in mind that XRP is way less risky than many other meme coins or unknown crypto coins.
The post Here’s How Much Your $100 Investment in Ripple Will Be Worth If XRP Reaches $1 appeared first on CoinGape.
- @ December 13, 2022 7:30 am