Is $XRP Ripple Going to $100? SEC Lawsuit is OVER!

There you have it. According to Ripple’s CEO Brad Garlinghouse, the SEC is dropping its appeal. This ends the long-standing lawsuit that the SEC started some 4 years ago against Ripple. The SEC alleged that $XRP was a security. Well, that is now officially proven to be wrong. $XRP is not a security. This is of course a great victory for Ripple.

However, this will also have major implications for the crypto sector in general. This case is a milestone and will pave the way for proper legislation. So, what does this mean for Ripple and its $XRP token? Let’s take a closer look.

What Is Happening?

Currently, the SEC hasn’t confirmed what Garlinghouse said in his X post. The Commission needs to approve this. This seems to be a formality. However, John Deaton confirmed Garlinghouse’s statement. Deaton is a well-known crypto lawyer who represented $XRP holders. 

To clarify, the Chief Legal Officer at Ripple is Stuart Alderoty. He also posted about this news. I will show that in a moment.

Garlinghouse made his statement at the Digital Asset Summit. This currently takes place in NYC. There are still three major points at play now. So, let’s take a look at them.

$125 Million Judgment

Ripple still needs to pay $125 million to the SEC. However, with the SEC halting their appeal, Ripple may be able to negotiate this down. 

Ripple’s Cross-Appeal

In October last year, Ripple filed a cross-appeal against the SEC. There’s good reason to assume that the SEC doesn’t want Ripple to continue with this cross-appeal. The reason is simple; it could undermine the commission’s jurisdiction. Let alone the effect it may have on other cases. So, this strengthens Ripple’s position in renegotiating the $125 million settlement.

As you can see, the SEC dropping out of this case, causes plenty of ripples in the water. Pun intended. However, there’s a third point I want to bring to your attention.

Judge Analisa Torres Issued an Injunction

Judge Analisa Torres is the Judge who ruled in favor of Ripple in August 2024. She ruled that Ripple was within the rules of law to have sold and may continue to sell $XRP to retail investors. So, offering $XRP on exchanges is fine, according to Judge Torres. Check her verdict here.

However, she also issued an injunction. This is a court order requiring a party to either do or refrain from doing a specific action. She also ruled that Ripple did violate federal securities law. That’s because Ripple sold $XRP directly to institutional clients. So, with this injunction, she prevents Ripple from selling $XRP to institutional investors. This is to prevent violation of securities laws. 

Now, Ripple needs to find a way to issue $XRP to American banks. So, Ripple needs to find a way to bypass this injunction. This is also something that Ripple may be able to renegotiate.

It shows that this case has many nuances. Overall, it’s a big victory for Ripple and crypto in general. However, there are still some important details that need clarification.

The $XRP Price

The $XRP price pumped after this news. That should not come as a big surprise. It went from $2.32 to $2.53 in only 15 minutes. That’s a 10% hike. Currently, it peaks at $2.57, and it is back, at the time of recording, at $2.46.

So, the big question is, where can $XRP go from here? Well, Ali Martinez, a well-respected TA analyst, mentioned already a few days a possible $15 price for $XRP. Another TA account called for a $19 price after the news broke. That would be a 6x or a 7.75x from its current price.

So, up to $20 seems to be a realistic price right now. However, can $XRP go beyond that price? Let’s take a look.

Gert van Lagen things that $38 is a conservative price target. He bases this on a 7-year-old Double Bottom / Ascending Triangle. 

So, is $100 realistic? Well, in the short term, the answer is no. What we see now is that the foundational work is done by Ripple. $XRP now has real utility. Institutions will have an interest in $XRP. Especially with any lawsuits out of the way. 

However, institutions are slow movers. They don’t ape in to deals. I contrast, there are internal trajectories they follow, and these take time. There’s also still the injunction. Currently, this bars institutions from obtaining $XRP in the US. Once this dust has settled and there’s clarity on the injunction, $XRP could possibly go to $100. However, expect this to be a slow process.

So, what do you make of this new development in the Ripple case with the SEC? Let me know in the comments. Make sure to join our lively discussion on Discord and X as well.

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