Financial Analysts Discuss Likely Impact of XRP Energy-Efficient Nature and Ripple-SEC Case Outcome on Its Price

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Over the past week, Ripple’s digital token XRP has been one of the most trending cryptocurrencies on social media after printing a meteoric rise of about 50% within a week. With the retail frenzy gaining strength, bag holders are asking about the possibility of XRP sustaining the massive rally.

According to an article recently published by Finance Magnates, a wide range of indicators need to be considered. The first indicator is XRP network activity, the second is the development in Ripple versus the SEC lawsuit, and the last indicator is the adoption of XRP in the global financial ecosystem.

Analysts Believe the Final Outcome of Ripple-SEC Case is the Major Indicator

Most analysts who spoke with Finance Magnates believe it’s possible for XRP to sustain the recent bullish momentum, but the final outcome of the lawsuit between Ripple, the major distributor of XRP, and the United States Securities and Exchange Commission (SEC), will have a major impact on the price of the digital currency in the long-term.

The Chief Executive Officer at Pure Fintech, Daniele Casamassima, believes that the latest optimism in Ripple versus SEC lawsuit is the strength behind the recent price jump.

Casamassima noted:

“The price of XRP reached $0.90, making it one of the best performers in the past week with a growth of almost 50%. The payments token regained a market cap of $40 billion, moving above Cardano's ADA and Solana's SOL. The recent price surge is mainly due to the possible outcome of its lawsuit against the US Securities and Exchange Commission. Traders anticipated that the currently sealed legal documents would show that the crypto company got legal advice from an outside law firm which concluded that XRP were not securities.

“Some analysts say those developments suggest the case is coming to an end, which could cause further appreciation in XRP's price. Others, however, say XRP could lose favor among investors because newer payments tokens now exist in the market. Ripple published the quarterly XRP Markets Report for Q4 2021 to voluntarily provide transparency and regular updates on the company’s views on the state of crypto markets such as quarterly XRP sales and relevant XRP-related announcements.”

https://timestabloid.com/financial-analysts-discuss-likely-impact-of-xrp-energy-efficient-nature-and-ripple-sec-case-outcome-on-its-price/