Investing.com – As of late last year, investors in XRP are only really concerned about one thing: the lawsuit filed by the Securities and Exchange Commission (SEC) against Ripple. The US Securities and Exchange Commission says Ripple raised US $ 1.3 billion using an unregistered securities offering.
Since then, Ripple has repeatedly claimed that she hasn’t done anything wrong and wants to go to court as soon as possible. Because this lawsuit has resulted in a negative spiral of disastrous news for the blockchain-based payments company. Among other things, XRP has been pulled from Coinbase (NASDAQ: NASDAQ: COIN) and other exchanges – pending the outcome of the ongoing lawsuit. As a result, Ripple pushed for an early resolution of the case, which the SEC delayed for some time.
Despite this uncertainty, Ripple’s XRP has gained an impressive 475% since the start of the year. However, the price of the sixth largest cryptocurrency by market cap has been extremely volatile. While it hit a new intermediate high of $ 1.96 on April 11, the price collapsed until mid-June and fell to $ 0.51. After that, the price stabilized and took XRP down to $ 1.34 in two months. Currently, the token is trading at $ 1.27.
A new article from Decrypt.co gives an exciting look at the current dates that XRP investors should watch out for in the coming weeks. The two dates investors should mark in red in their calendars are August 31 and October 15.
The XRP community sees August 31 and October 15 as potential key dates for XRP cryptocurrency.
On August 31, the SEC and Ripple are due to make their first arguments and provide evidence. This process, also known as “fact-finding”, takes time. As a result, the SEC requested an extension of the deadline, which expired on June 14, in order to gather more evidence. Ripple resisted the request, pointing out that the litigation posed an “existential threat to its business.”
Either way, on August 31, we should get a better look at the evidence from both sides. This will result in a potential catalyst (up or down) for XRP. Therefore, investors should expect increased volatility around this date.
The next date that is expected to cause high volatility is October 15, when the expert consultation will end. This is the day when the deadline for expert testimony and the evidence that these experts will present ends. This will allow both parties to better understand their positions. Therefore, investors should have a better idea of how the lawsuit is going.
It remains to be seen how Ripple emerges from this trial. However, it is clear that cryptocurrency investors will be watching this outcome closely. Indeed, this case could set a precedent for the cryptocurrency community. Therefore, all eyes are on these next dates.
If Ripple succeeds in winning the lawsuit against the US Securities and Exchange Commission, the upside potential would be considerable. At least that’s what the current forecast models from CoinPriceForecast, WalletInvestor and Digital Coin suggest.
Ripple’s XRP could reach $ 2.14 by the end of 2021 and $ 4.21 by the end of 2024, CoinPriceForecast estimates. However, e-currency is unlikely to hit the $ 5 mark before 2027, according to the forecast site.
The developers of WalletInvestor are more pessimistic, predicting the price of XRP to be $ 1.7 in one year and “only” $ 3.35 in five years.
The forecast model developed by Digital Coin sees the price of Ripple at $ 1.71 at the end of 2021, followed by a rise to $ 1.94 the following year. In 2028, the platform estimates the price of XRP at $ 5.23.
As always, while these predictions can serve as a guide, any investor should do their own research and make their own decisions before investing in such a volatile asset.
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