XRP Price Prediction – Can XRP Hit $1 This Week As Trial Deadline Approaches?

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The end of the legal saga between the SEC and Ripple seems to be near. According to the latest elements, the Tribunal chairwoman Analisa Torres has instructed the top US regulator to accede to the claims of the struggling cryptocurrency firm. Following the regulator’s 2020 subpoena, the price action of the XRP token drastically underperformed.

Could seeking summary judgment help or hurt the Ripple blockchain? Is there a possibility that the XRP token will retouch the $1 price this week?

Resend documents

Last Monday, Federal Judge Analisa Torres ordered to the Securities and Exchange Commission (SEC) of comply with Judge Sarah Netburn’s orders to deliver the Hinman document requested by the defendant, Ripple.

According to Ripple’s attorney, the document is essential evidence to establish his argumentas it captures a speech by former SEC Director William Hinman stating that Ethereum is not a “stock”.

The Ripple team previously requested access to the document to prove that, just like Ethereum, XRP is not a security as claimed by the government agency. However, the SEC opposed itstating that the document was irrelevant to the case and asserting attorney-client privilege that protects internal communications from speech.

The new decision by Judge Torres puts the SEC in a difficult situation as it attempts to enforce regulatory oversight in the booming crypto industry. Ripple executives continued to claim that the SEC was going too far in its efforts and not putting things in their proper perspective.

Cryptocurrency lawyer Jeremy Hogan believes this could strengthen Ripple’s position.

Others have noted that Ripple’s stance could help other cryptocurrency projects in the future when the regulator comes knocking.

no jury needed

A long legal dispute between the SEC and Ripple, and both parties want to put it behind them. The SEC said the $1.3 billion investment raised by Ripple in its initial coin offering (ICO) was unregulated, leading to the litigation.

Over the past few weeks, Ripple and the SEC have requested a summary judgment to avoid a lawsuit. If the case is resolved quickly and in favor of XRP, the digital asset could experience a price spike, as it would be re-listed on several top US cryptocurrency exchanges. Additionally, the company can rekindle its North American ties with remittance companies and further strengthen its grip on the cross-border sector.

A potential win could see XRP hit the $1 mark in the coming days.

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Ripple wins elsewhere

The Ripple blockchain has continued to show its momentum despite its issues. According to a recent tweet, the French fashion house Balmain recently launched its first wave of non-fungible tokens (NFTs) on MintNFT – an NFT platform running on the Ledger XRP (XRPL).

It’s about a huge win for carbonless protocol, which has recently begun to take a keen interest in the digital collectibles ecosystem.

TAMA disrupts the crypto status quo

A crypto asset that has caught the attention of several investors over the past couple of weeks is TAMA – the native token of the Tamadoge ecosystem.

According to its website, Tamadoge is a meme currency project and Utility NFT which allows players to breed digital pets in the form of dogs and compete against each other for experience points. The project also offers a virtual reality experience through its Tamaverse offer.

The TAMA token recently debuted on the popular centralized exchange OKX and has already broken records. He has recorded a 600% increase after surging from its quote price of $0.018 to $0.08 in the first week of full trading. At the time of going to press, TAMA surpassed $77 million in trading volume in one week of trading.

Buy TAMA on OKX CEX

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XRP Price Prediction – Can XRP Hit $1 This Week As Trial Deadline Approaches?


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