BitBoy Crypto, a well-known influencer in the cryptocurrency world, has suggested that the price of XRP could experience a significant surge if a settlement is reached in the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple.
In an interview with Fox News, BitBoy Crypto, whose real name is Ben Armstrong, revealed that his sources indicate a settlement is imminent. He believes that once the settlement is reached, XRP will no longer be considered a security, which will result in a major price explosion for the coin. Armstrong predicts that this surge will occur during the first half of the bull run.
The SEC v. Ripple lawsuit has had a profound impact on the price of XRP. Despite a previous court declaration that XRP is not a security, the ongoing lawsuit has prevented the coin from reaching its full potential. Currently trading at $0.515, XRP has experienced a 1.36% decrease in value over the past 24 hours.
With Armstrong’s anticipation of a settlement, there is hope that XRP will finally experience the projected price explosion.
As for the status of the Ripple lawsuit, it is currently in its final phase. The parties involved have submitted their remedies-related briefs, and today is the deadline for filing letter briefs in opposition to the sealing motions. Once the court issues its verdict on the sealing motions, the parties will publicly file redacted versions of all documents and exhibits within 14 days. This will be followed by the court’s final verdict, concluding the lawsuit at the district court level. Many experts believe that this resolution will occur before the end of the year.
It’s important to note that this article is for informational purposes only and should not be considered financial advice. The opinions expressed 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 is not liable for any financial losses incurred.
