XRP Price Prediction by the Community – Coinbase Urges to Relist Token – $3 XRP Incoming
The price of XRP has risen by 3.5% over the last 24 hours to $0.382995, as the cryptocurrency market recovers after its weekend losses. The current price is down 5% in a week, and has fallen 0.4% in the past 30 days. This is due to Ripple’s ongoing legal battle with SEC.
Despite these concerns, sentiment around the case is positive. Recently, XRP’s community took to Twitter to ask Coinbase to relist XRP. This shows that Ripple is confident that they will win a favorable judgment and that exchanges will legally be allowed to list XRP.
XRP Price Prediction by the Community – Coinbase Urges to Relist Token – $3 XRP Incoming
XRP is in a precarious situation at the moment. Its indicators are consistent with continued rises and falls. After touching its 200-day (blue), its 30-day moving average (red), has fallen to a flatline. It looks like it may now fall along with its price.
After falling to 40, XRP’s relative strengths index (purple), has risen to 45. Although it has fallen recently, this slight recovery could indicate further increases, although it could still fall as in December.
Coinbase has been urging XRP to be relisted on social media and Twitter. Today’s rise is a result of widespread support for the coin via the #RelistXRP hashtag. The #RelistXRP hashtag was created by supporters of the coin. They argue that a relisting would not only spark a rally for it, but also that Coinbase would reap millions in exchange fees.
Some claim that Coinbase plans to relist XRP. However, there is no supporting evidence.
Despite this, Ripple was supported by Coinbase in an amicus brief submitted in November. This testimony confirms that Coinbase still holds a positive view on XRP despite having delisted the coin in December 2020 to avoid legal repercussions.
In January, Coinbase also supported the belief that XRP will be relisted sooner or later. During an appeal hearing in LBRY’s case against SEC, the judge ruled that third-party sales of LBC tokens do not count as unregistered securities.
This ruling, which was made after LBRY had been found to sell unregistered securities when it first offered LBC tokens suggests that exchanges will still have the ability to list XRP, even if Ripple wins. Coinbase would be able to relist the coin even if Ripple loses its case.
There is a chance that Ripple will get a positive outcome. It is supported by numerous favorable rulings, such as the court upholding Ripple’s right to present fair notice defense and Judge Torres giving it access to emails and documents related to a speech that was given by William Hinman in 2018.
However, observers claim that the SEC failed to prove that Ripple created a “common enterprise” that would increase the value of XRP. This is crucial if Ripple is to prove that Ripple sold unregistered securities. However, it is doubtful that the SEC has sufficiently shown this.
Ripple’s prospects are therefore good. Recently, CEO Brad Garlinghouse said He expects that the case will be resolved by the second half of 2023 or the last year.
Ripple wins, Coinbase will relist XRP if Coinbase is successful. There’s no doubt that altcoins would experience a huge rally.
Within days of a positive outcome, XRP could shoot up to $1. The rest of the year could see it rise to $3 before reaching its highest point of $3.40 in 2024.
Ripple wins will allow it to grow its business in the long-term. This is evident in the fact that the company was able to grow the business even though it was not being sued. Q4 2022 XRP Markets report It was able to calculate that net XRP sales totalled $226.31 millions in the quarter.
This could lead to XRP climbing up the cryptocurrency rankings in the years after Ripple wins. Ripple is more popular and has more usage.
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