XRP (CCC:XRP-USD) could potentially start 2022 in a huge way. The fintech project is looking like more of a clear-cut winner in its current legal battles, according to some analysts. If all goes according to plan, the network could have the U.S. Securities and Exchange Commission out of its hair quite soon. Were this to happen, the XRP coin is expected to break out. As chatter heats up around the SEC lawsuit potentially coming to an end, XRP price predictions are on the rise. Is the XRP crypto going to hit its stride once again?
A lot of the talk today around the SEC’s lawsuit against Ripple comes as Ripple’s latest brief to the court makes its rounds on the internet. Judge Sarah Netburn, one of the judges presiding over the suit, ordered both sides to respond with letters to the SEC’s use of deliberative process privilege (DPP). DPP is a privilege given to government agencies; it allows an agency to protect certain behind-the-scenes deliberations that go into that agency’s decision making process.
The letter published by Ripple saw the project go on the offensive, challenging the SEC’s use of DPP in order to keep certain communications out of the court. Its letter particularly challenges the SEC’s choice to shroud communications regarding a 2018 speech by an SEC director, William Hinman. In the 2018 speech, Hinman discussed the classification of cryptocurrencies as securities or currencies.
In order to keep these communications under wraps, the SEC will need to connect the communications in question directly to agency decision making processes, or risk the information coming to the public eye.
The news is huge for Ripple. Now, its supporters see the SEC as vulnerable.
XRP Price Predictions Boom as Ripple Puts the SEC on the Ropes
This news is greatly relieving to Ripple bulls, especially those hoping for some indication that the suit could be coming to an end. If the SEC were to turn over this info, Ripple could have exactly what it needs to win over the judges. Analysts are starting to really think Ripple can beat the case. After dragging on since late 2020, this is a welcome sign.
As the news makes its way across the cryptosphere, XRP prices are hot. Indeed, the coin is posting a 5% gain this morning; trading volume is also up over 60% from yesterday. The coin is now swapping hands at about 90 cents, but investors certainly don’t think the buck stops here, especially with such bullish news.
Could XRP surpass the $1 mark once again in the wake of the lawsuit tides turning? Let’s take a look at some XRP price predictions and see what analysts are thinking:
- CoinPriceForecast thinks Ripple’s got enough gas left in the tank for a push above $1 in 2021. The site expects XRP to finish the year out at $1.07.
- DigitalCoinPrice expects even more gains from the coin over the next handful of weeks. The outlet is targeting a $1.37 price for the coin by year’s end. It then expects the coin to be worth $1.55 at the close of 2022.
- WalletInvestor’s 12 month prediction for the coin mirrors the same bullishness its peers present. By December of next year, the site expects XRP to trade at $1.41.
- Likewise, Gov Capital’s price target for XRP in December 2022 is $1.43.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.