XRP Price Prediction as $1 Billion Trading Volume Comes in – XRP to the Moon?

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Investors remain uncertain about the ongoing Ripple vs. SEC battle, so the XRP price prediction remains neutral. Jake Chervinsky, Executive Vice President and Head of Policy at Blockchain Association, Advisor at Variant Fund, and Board Member at DeFi Education Fund remarked that the opinions of the US SEC are "wrong as a matter of law and policy."

Recalling that on 22 December 2020, the SEC "filed a case against Ripple Labs Inc. and two of its executives, who are also significant security holders, charging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering"?

The SEC is now suing Ripple, and yesterday, the Blockchain Association filed an amicus brief supporting a correct interpretation of Howey.

According to the Blockchain Association: 

"this case is just the latest in a long line of SEC efforts to regulate by enforcement, and it highlights the SEC's efforts to cement and legitimize its overly broad interpretation of the Howey test," and "a ruling that adopts the SEC's view of the law would expand the landscape of assets that are considered securities in a manner contrary to the Supreme Court's intent in Howey."

Yesterday, Chervinsky tweeted that the SEC's position "is erroneous as a matter of law and policy," referencing a 30-page brief written by the Blockchain Association.

All of this is positive for XRP and may help its prices gain bullish momentum.

The current XRP price is $0.472, and the 24-hour trading volume is $1.2 billion. XRP is up over 2% in the last 24 hours, with CoinMarketCap now ranking #6 and a live market cap of $23