A Glimpse of Hope for XRP Price? Ripple CTO Addresses XRP Lawsuit Speculations

By Sunil Gavhane

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A Glimpse of Hope for XRP Price

A Glimpse of Hope for XRP Price: Mack, a well-known member of the XRP community, recently shared his worries about XRP not doing well on his X account. He asked the people in charge of Ripple to reply. Mack sent a message to Ripple’s CEO, Brad Garlinghouse, and CTO, David Schwartz, talking about how XRP investors are getting worried because the token isn’t doing well. He also asked how long the community has to wait for XRP’s value to shoot up.

Even though XRP is the leading cryptocurrency, its value has fallen a lot. After reaching a high of $0.93 in July 2023, its price is now only $0.5215.

The drop matches the current market falls and Ripple’s legal problems, making the token’s price drop even more. When XRP fell under $0.5, an important price point, it led to a lot of selling in fear. It seemed like it could plummet further, with prices possibly going down to $0.38.

XRP Sell-off Begins in Community

XRP’s falling value has led Mack and others to sell their XRP. One person sold 75% of their XRP because they were unhappy, and someone else sold theirs in 2017, likely because of issues such as the Automated Market Maker (AMM) problem, where votes were taken back because of a glitch in the system.

Not everyone is Disheartened

Even though things look tough, a big fan of XRP named Dark Defender gave people a bit of hope. He talked about how there were tough times before XRP’s price went up a lot and told everyone to wait patiently. Also, another famous expert said that XRP’s value could increase by 65,000% and advised people to wait so they don’t miss the chance.

Ripple CTO Clears SEC vs. Ripple Lawsuit Speculation 

After recent rumors about the Ripple case, David Schwartz, the Chief Technology Officer of Ripple, said in an interview that the lawsuit from the SEC against Ripple might finish this year. He didn’t give any details, but many experts think the legal fight is almost over.

The court case is now at the stage where they’re deciding on the solution, and everything should be done by April 29, 2024. If the SEC answers Ripple’s challenge by that time, the court will make a decision. Lawyers think everything will be settled by the start of summer 2024.

The CEO of Ripple also said that the SEC can’t keep delaying the case because the financial records are clear and it will be a quick and straightforward case again.

Will the price of XRP increase? We can’t be sure until the lawsuit is resolved. We’ll just have to wait and see.

Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.

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