Lele Jima
BitBoy speculates that the XRP price would witness a massive explosion as SEC v. Ripple would reach a settlement that could finalize the coin’s non-security status.
Famous crypto influencer Ben Armstrong (a.k.a BitBoy Crypto) expects a potential settlement of the multi-year legal tussle between the U.S. SEC and Ripple.
Armstrong made this known in an interview with Fox News. Notably, popular XRP community member Amelie shared an excerpt of the interview on X yesterday.
🚨BREAKING:
Bitboy sources confirm in a Fox News interview that the SEC and Ripple have reached a settlement! #XRP is expected to see a big price increase.
The top DeFi token on the XRPL, CTF token, could rise from 0.97 XRP per token to 374.25 XRP per token.
The CTF token… pic.twitter.com/6Z05BztLdf
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) May 19, 2024
XRP Price to Rise After SEC and Ripple Settlement
In the interview, Armstrong, citing sources familiar with the case, said the SEC v. Ripple lawsuit would soon end in a settlement.
“All my sources are saying that we will get a settlement between Ripple and the SEC,” Armstrong remarked.
Following the settlement, Armstrong speculated that XRP would see a huge price explosion as the coin would no longer be considered a security. According to the crypto influencer, XRP would embark on a parabolic run in the first half of the bull run.
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Impact of SEC v. Ripple Lawsuit on XRP
It is common knowledge that the ongoing Ripple lawsuit has been the major factor impacting XRP’s price action
Despite the court declaring XRP as non-security last year, the coin has not lived up to expectations. This is because the lawsuit is ongoing and has not reached a logical conclusion. For context, XRP was changing hands at $0.515 at press time, down 1.36% over the past 24 hours.
With Armstrong anticipating a potential settlement in the lawsuit, XRP could embark on the projected price explosion soon.
Current Status of Ripple Lawsuit
In the meantime, the SEC v. Ripple case is currently in its end phase. The parties are in the last stage of remedies and have filed the relevant remedies-related brief.
Today is the deadline for filing letter briefs in opposition to the omnibus sealing motions. After this filing, the court would issue its verdict regarding the omnibus letter motions to seal.
Upon issuing this verdict, the parties are expected to publicly file the redacted versions of all documents and exhibits within 14 days after the ruling.
Afterward, the court would issue its final verdict, effectively concluding the lawsuit at the district court level. Notably, multiple legal and crypto experts expect the final resolution to occur before the end of this year.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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