Popular crypto strategist Tom Busby from CryptoBusy shares with their subscribers the latest updates on SEC vs XRP lawsuits and XRP price predictions for the 2021 bullpen.
Updates on XRP lawsuit
Although the deadline is coming to end, according to the trader, SEC has not handed over the requested documents, despite the Judge’s insistence, as the SEC claims there is deliberative process privilege. The fact discovery was previously extended by 60 days after an SEC request, thus altering the lawsuit agenda as a whole.
“At the time, Ripple opposed arguing the SEC had sufficient time to investigate this matter before filing suit and because Ripple wants to move for summary judgment as soon as possible.”
Besides that, recently SEC has gone back to court in its lawsuit against Ripple Labs — this time, to demand access to more communications between Ripple employees on Slack, a popular chat and messaging application used by businesses.
XRP Price Prediction
XRP saw immense retail demand on Wednesday after Global Money Express (GME Remittance) announced that the company has joined RippleNet, the global financial network of blockchain firm, Ripple.
After the news, XRP jumped above the market cap of $40 billion as the price of the cryptocurrency touched the high of $0.90 on 11 August. At the press time, XRP was trading at $1.05, increased by more than 42% over the last 7 days.
According to the analyst, if the conclusion between SEC and XRP can be settled down by mid-September and possibly Ripple will have to pay a fine of 10 billion dollars, it means that SEC can finally take their foot off the accelerator with this lawsuits and it will not be a thing anymore:
“I think that will leave a lot of room and a lot of momentum for XRP to go to new all-time highs. So if we do see that within the space of two weeks, I do think on the announcement of some forms of settlement or Ripple XRP winning this lawsuit, XRP could go to 2 dollars within the space of two weeks; 2.50 after that as well very soon after; and then within sort of a few months or so going to new all-time highs around sort of 3.50 and up to 5 dollars.”
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