BitBoy Crypto, a well-known crypto influencer, has speculated that the price of XRP could experience a significant surge if the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple reaches a settlement. In an interview with Fox News, BitBoy Crypto revealed that his sources indicate a settlement between Ripple and the SEC is imminent.
BitBoy Crypto believes that once the settlement is reached, XRP will no longer be considered a security, which will lead to a massive price explosion. He predicts that XRP will embark on a parabolic run during the first half of the bull run.
The SEC v. Ripple lawsuit has had a major impact on the price of XRP. Despite a previous court ruling declaring XRP as a non-security, the ongoing lawsuit has prevented the coin from meeting expectations. At the time of writing, XRP was trading at $0.515, experiencing a 1.36% decrease in the past 24 hours.
With BitBoy Crypto anticipating a potential settlement in the lawsuit, XRP could soon experience the projected price explosion.
As for the current status of the Ripple lawsuit, it is in its final phase. The parties involved have filed the necessary remedies-related briefs, and today is the deadline for filing letter briefs in opposition to the omnibus sealing motions. Once this filing is complete, the court will issue its verdict regarding the sealing motions.
After the verdict is issued, the parties are expected to publicly file redacted versions of all documents and exhibits within 14 days. Following this, the court will issue its final verdict, effectively concluding the lawsuit at the district court level. Experts believe that the resolution will occur before the end of this year.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions, and The Crypto Basic will not be held responsible for any financial losses incurred.