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Speculation suggests that the case between Ripple and the SEC may conclude before April 16, with reports indicating that the company is negotiating for a lower fine.
Analysts foresee a significant price surge for XRP in the short term. The target for X users in the crypto community is set at $9, while Egrag Crypto predicts that extreme rallies could reach between $27 and $222, although such valuations would require a substantial increase in market capitalization.
Over the past week, Dogecoin (Doge) has declined by 15%. Analyst Ali Martinez believes the coin remains bullish as long as it stays above $0.17, despite a brief dip below that level before recovery.
Is this situation moving towards a conclusion?
The U.S. Securities and Exchange Commission (SEC) has altered its approach to the digital asset industry since the departure of its former chairman, Gary Gensler. Under the leadership of Mark Uyeda, the agency has dropped or suspended several lawsuits against crypto entities, including Coinbase, Binance, Uniswap, and Kraken. However, perhaps the most notorious case against Ripple still awaits resolution.
In recent weeks, there has been speculation that both parties may soon shake hands on a consensus. Popular attorney Fred Rispoli assumed that a formal end to the legal battle could occur before April 16.
Fox Business reporter Eleanor Terrett claimed to have insider information indicating that the lawsuit is “coming to a close and may end soon.” According to her sources, the delay in reaching an agreement is due to Ripple’s legal team negotiating more favorable terms concerning the $125 million fine ordered by Judge Torres last summer.
Terrett was also informed that the new leadership at the SEC has been closely reviewing the case and now seems uncertain whether the company has actually violated any rules. However, Judge Torres had previously ruled that Ripple’s sales of XRP did indeed violate federal securities laws.
XRP Price Outlook
The final outcome of the case is expected to trigger significant volatility in the price of Ripple’s native token. Currently, the asset is valued at approximately $2.30 (according to Coingecko data), and many market observers envision a massive bull run in the near future.
The recent X users’ crypto general suggested that XRP has been breaking out above the $0.94 level, describing this as a “strong sign.”
This analyst also mentioned that valuations have been re-tested and are ready for the next upward move.
“My short-term target is around $9. Overall, I am more inclined towards U.S. projects, and with all cases at the SEC being brought back, it will surely pump hard,” they stated.
Not long ago, Egrag Crypto made an even more optimistic prediction. He believes that XRP may be preparing for the next “big leap,” forecasting a price explosion between $27 and $222.
However, reaching such high levels would require the token’s market capitalization to soar to at least $1.5 trillion, making this projection highly incredible.
What about Doge?
Last, but certainly not least, we turn to Dogecoin, which has been experiencing a serious decline recently. As of the time of writing, the meme coin is trading at $0.17, down 15% over the week.
Doge price, source: Coingecko
Earlier this month, popular X user Ali Martinez assumed that Doge could remain on a bullish path as long as its value holds above the $0.17 support zone.
Nonetheless, in the past few days, bulls briefly dipped below the depicted level before re-entering.
