The post Will Ripple Triumph in Its Legal Struggles? appeared on BitcoinEthereumNews.com.

Ripple, a prominent cryptocurrency initiative, is entrenched in a legal dispute with the SEC that has persisted for nearly four years. Although recent court rulings have proven advantageous for Ripple, the SEC’s appeal has caused the price of XRP Coin to dip to approximately $0.50. The implications of this case and its long-term effects on Ripple’s future are currently under scrutiny. What is the Current Progress of the XRP Case? The SEC has filed an appeal, though specifics remain somewhat vague. The agency is expected to present additional evidence to strengthen its argument regarding the historical connection between Ripple and XRP. In an effort to mitigate negative impacts during the litigation process, Ripple had previously sought to distance itself from the XRP token. What Does the Future Hold for XRP Coin? An essential factor to consider is the circulating supply of XRP Coin. The total supply is capped at 100 billion, with current circulation increasing from 45 billion in early 2021 to 56.5 billion now. This suggests that over half of the maximum supply is currently available in the market. For future price projections, the market capitalization alongside the present share of XRP Coin serves as critical indicators. At a $1 price point, a market cap of $59.9 billion would be necessary, considering a circulating supply of roughly 59.95 billion under a 6% annual inflation rate. Projections for 2025 indicate that reaching a $2 price would demand a market cap of approximately $119 billion. Ripple’s legal battles with the SEC continue to unfold. The SEC’s appeal could impact XRP Coin’s price stability. Potential strategies involve burning assets to create a deflationary effect. Engagement with large financial institutions may support token value growth. The Ripple team may explore strategies such as asset burning or institutional agreements with major banks to consolidate…

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Filed under: News - @ October 10, 2024 5:25 pm