Based on The Crypto Basic, software engineer Vincent Van Code has explained how the Ripple vs. US SEC legal settlement may affect XRP's price movement despite growing demand from ETFs. The 2023 ruling by Judge Analisa Torres concluded that XRP is not a security, but past institutional sales violated securities laws. Ripple and the SEC have since dropped their appeal. Van Code notes that Ripple's inability to sell directly to ETFs due to the injunction could prevent sharp price swings, as ETFs may need to source XRP through open markets. Ripple holds 34.76 billion XRP in escrow, over 34% of the maximum supply, and monthly token releases are automated. Analysts like Chad Steingraber predict ETF inflows could still drive XRP to $225 per coin.
Ripple Legal Settlement May Limit XRP ETF Price Volatility, Says Developer
TheCryptoBasicShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.