Recent Ripple v. SEC Lawsuit Updates, Interesting XRP Price Predictions, and More: Bits Recap March 14

TL;DR

• Speculation is rising that the case between Ripple and the SEC could conclude before April 16, with the company supposedly negotiating a lower penalty.

• Analysts foresee a major price surge for XRP in the short term. The X user Crypto General targets $9, while EGRAG CRYPTO predicts an extreme rally to $27-$222, though such valuations would require a massive market cap increase.

• Dogecoin (DOGE) has dropped 15% in the past week. Analyst Ali Martinez suggests the coin remains bullish if it stays above $0.17, though it briefly dipped below before recovering.

Is the Case Inching Toward a Conclusion?

The US Securities and Exchange Commission (SEC) has changed its approach toward the digital asset industry following the departure of its former Chairman, Gary Gensler. Under the new regime led by Mark Uyeda, the agency dropped or paused several lawsuits against crypto entities, including Coinbase, Binance, Uniswap, Kraken, and more. However, perhaps the most notorious case against Ripple is still waiting for a resolution.

Over the past several weeks, there has been rising speculation that the two sides could soon shake hands on a mutual agreement. The popular attorney Fred Rispoli assumed that the official end of the legal battle might occur before April 16. The date marks Ripple’s scheduled filing of their appellate brief.

For her part, Fox Business journalist Eleanor Terrett claimed she has inside information that the lawsuit “is in the process of wrapping up and could be over soon.” According to her sources, the delay in shaking hands is due to Ripple’s legal team negotiating more favorable terms regarding the $125 million penalty that Judge Torres ordered on the company last summer. 

Terrett was also told that the SEC’s new leadership had been closely reviewing the case and now appears uncertain about whether the firm actually breached any rules. However, Judge Torres previously ruled that Ripple’s institutional sales of XRP did, in fact, violate federal securities laws.

XRP Price Outlook

An eventual conclusion of the case is expected to trigger substantial volatility in the price of Ripple’s native token. Currently, the asset is worth around $2.30 (per CoinGecko’s data), with numerous market observers envisioning a massive bull run in the near future.

The X user Crypto General recently suggested that XRP has been holding above the breakout level of $0.94, describing this as “a great sign of strength.” 

The analyst also said that the valuation has retested the support levels and appears ready for the next move to the upside.

“My target for the short term would be around $9. But overall, I am even more bullish, being a USA project and all the cases by SEC have been taken back, it is bound to pump hard,” they stated. 

Not long ago, EGRAG CRYPTO made an even more optimistic forecast. He believes XRP could be gearing up for the next “big leap,” predicting a price explosion in the $27-$222 range. 

However, such high levels would require the token’s market capitalization to skyrocket to at least $1.5 trillion, making the projection highly implausible. 

How’s DOGE Doing?

Last but not least, we will touch upon Dogecoin, whose price has been on a serious downtrend lately. As of this writing, the meme coin trades at $0.17, representing a 15% decline on a weekly scale.

Earlier this month, the popular X user Ali Martinez assumed that DOGE could remain on a bullish path as long as its value stays above the $0.17 support zone. 

Nonetheless, the price briefly plunged way below the depicted level over the past few days before the bulls stepped in again.