Ripple’s XRP has been at the forefront of experts’ discussions for quite a while now, especially in 2023.
The main reason for this seems to be the ongoing spat between Ripple Labs and the US Securities and Exchange Commission.
- According to many analysts and XRP proponents, the price of the token has been heavily suppressed by the ongoing legal feud between the US SEC and Ripple.
- After all, the top financial watchdog of the world’s strongest economy is alleging that sales of XRP, be it primary or secondary, constitute an investment contract, essentially claiming that XRP is a security.
- If that’s found to be the case, Ripple would have conducted an unregistered securities offering worth over $1 billion.
- More importantly, though, it would legitimize the claim that XRP is a security, which would put the asset under the scrutiny and purview of the Securities and Exchange Commission.
- That said, Wall Street veteran Linda Jones thinks that the XRP price will eventually be pushed higher by none other but institutions.
- She thinks that they need more legal clarity.
- More recently, Judge Analisa Torres, who’s presiding over the Ripple case, ruled partially in favor of the company, concluding that secondary sales of XRP do not constitute an investment contract.
- Yet, the case still has a long way to go.
- Jones also believes that congressional lawmaking is also needed for XRP’s price to increase.
It’s institutional money that will drive XRP’s price higher, imo. Institutions need legal clarity and framework. The lawsuit was one important piece of that. More Congressional lawmaking is needed, but it will happen. After that, the money will flow in a huge wave. They are preparing.