XRP Price Prediction: SEC Expert Marc Fagel Explains Ripple Case as People Discuss XRP Hitting $10
The post XRP Price Prediction: SEC Expert Marc Fagel Explains Ripple Case as People Discuss XRP Hitting $10 appeared first on Coinpedia Fintech News
After the euphoria of XRP’s legal triumph subsided, the cryptocurrency has faced recent rejection in the market. Following the court’s determination that XRP was not a security, the price surged by a staggering 65%, reaching $0.82. However, it struggled to maintain this momentum and settled around $0.50.
The question on everyone’s mind now: Is it justifiable to expect XRP to reach $10 in a bearish scenario? In the midst of conflicting opinions, let’s delve into what the XRP community foresees.
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Within the XRP community, a spirited debate is underway regarding the possibility of XRP hitting the coveted $10 mark. Some fervent enthusiasts draw parallels to past price surges, hinting at historical patterns that could result in a remarkable 900% surge, potentially propelling XRP to $15. Conversely, more cautious voices are quick to point out the potential for significant selling pressure once XRP approaches the $5 mark and beyond.
Regulatory Clarity vs. Broader Consensus
A crucial factor in this ongoing debate revolves around regulatory clarity. Supporters of XRP argue that the token has received legal affirmation as a non-security asset, which should bolster its prospects. Nevertheless, dissenting voices emphasize that while XRP may have attained legal clarity, it lacks a broader regulatory consensus within the financial world, potentially impacting its future.
Marc Fagel, a former SEC director and a seasoned attorney well-versed in securities enforcement and litigation, offers insight into this perspective. His opinion stems from the court’s ruling, which simultaneously favored both Ripple and the SEC. While the court acknowledged that Ripple had illicitly raised over $700 million through unregistered security sales, it also asserted that the company’s sales of XRP through intermediaries did not violate the law.
