XRP Price Prediction as Final Court Verdict Approaches – Can XRP Reach $5?
XRP price prediction remains neutral as Ripple trades within a symmetrical triangle pattern, with support at $0.4425 and resistance at $0.4845. The Securities and Exchange Commission (SEC) of the United States has requested that the deadline for filing all brief answers in support of Ripple Labs be extended until November 30, 2022. Furthermore, the SEC has requested that any additional Amicus Briefs be submitted by November 11.
Judge Torres granted the SEC's request to extend the deadline for all parties to submit reply briefs, according to a court document shared by former US prosecutor James Filan. Following a new plot twist in the timeline of the case, XRP supporters may have to wait until the first quarter of 2023 for the lawsuit to be resolved.
On November 4, Ripple CEO Brad Garlinghouse announced that 12 firms joined his fight against the SEC using a unique process that permits parties not directly involved in a case to testify and offer feedback. Coinbase also joined the group backing Ripple against the SEC, which raises the possibility that XRP may soon be back on that platform.
The XRP community is hoping that Judge Torres will be in favor of Ripple because the case appears to be tilted mostly against the SEC. The SEC is still under Gary Gensler's leadership, and criticism is growing. The New York Court has received over 12 papers supporting Ripple so far.
There are indications that the SEC would likely lose the lawsuit, which might provide XRP/USD a rise.
The crypto community is divided over which coin Twitter should add to its database in order to function as a payment app. Cryptocurrency investor APompliano claimed that only Bitcoin can handle large numbers of global microtransactions in a timely manner.
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