- April 3 SEC meeting could bring XRP regulatory clarity
- Analyst predicts XRP surge to $5-$8 in the coming months
The upcoming SEC meeting on April 3 has generated significant interest, especially concerning Ripple’s legal battle with the Securities and Exchange Commission (SEC). The gathering may consider passing a motion for the SEC to stop challenging Ripple’s XRP programmatic sales. This event has intensified pressure on XRP, which caused the token price to consolidate.
April 3 SEC Meeting Sparks Hopes for XRP’s Future
XRP has experienced intensive selling behavior since Ripple CEO Brad Garlinghouse made his announcement. A market-wide correction within cryptocurrency markets happened simultaneously while this development occurred. As recovery indicators appear, XRP has experienced a 5% growth that raised its price from support levels at $2 to reach around $2.15.
Market watchers demonstrate intense interest in the U.S. Congress because they evaluate its new stablecoin bill. The new stablecoin regulatory framework set to be established by this bill will have positive effects on Ripple’s RLUSD token while attracting more institutions to use the stablecoins.
The crypto market requires regulatory definition, so financial industry stakeholders are following the April 3 SEC event results. The price of cryptocurrencies tends to experience significant changes based on how regulatory news unfolds within historical data. If Ripple secures a positive outcome from the current meeting, the crypto market will likely experience significant price growth for XRP. Ripple’s commitment to compliance, along with its financial system integration efforts, will strengthen the possibility of price growth.
According to CoinMarketCap data, XRP has reached a $126 billion market capitalization while maintaining a trading value of $2.17 per token. XRP maintains stable prices throughout recent days because it remains between $2.05 and $2.50. Expert analysts provide diverse XRP price forecast predictions, where some analysts maintain a positive outlook toward the token.
Dark Defender Predicts XRP Wave 5 Target Between $5-$8
Dark Defender, a well-known crypto analyst, believes that XRP may revisit its last Fibonacci level at $2.04 before bouncing back. The expert believes XRP will overcome the essential resistance threshold at $2.22. Dark Defender predicts Wave 5 will extend between $5 and $8 during the price movements that are forecast between April and May.
On March 19, Garlinghouse announced the SEC planned to drop its appeal about XRP programmatic sales. The SEC remains silent about any final disposition it will make regarding the pending appeal for the case. Ripple’s Chief Legal Officer, Stuart Alderoty, made an announcement about current settlement discussions. Alderoty states Ripple will pay $50 million toward the total $125 million fine the court demanded. Legal proceedings between Ripple and the SEC seem likely to end as Ripple and the SEC move toward settling.
The settlement process might have the effect of lifting the injunction while the SEC asks Judge Torres to confirm the decision. A settlement will bring the case to its conclusion based on SEC voting procedures and the essential court document. A regulatory approval from the SEC through appeal withdrawal represents a breakthrough for Ripple, along with the crypto industry, because it would introduce clear guidelines to the market. Investors and industry professionals alike are eagerly awaiting the developments following the SEC’s decision on April 3.
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