Bill Morgan Predicts XRP Price To Hit ATH Soon

Despite the recent bull season in the crypto space, Ripple (XRP) has failed to join the frenzy with full force.

This could be attributed to its long-lasting legal actions with the U.S. Securities and Exchange Commission (SEC). However, a Ripple Labs lawyer remains optimistic about XRP hitting an all-time high this year. 

Ripple vs. SEC: Will a Lawsuit Stop XRP Bulls?

Ripple lawyer Bill Morgan has revealed that although the U.S. Securities and Exchange Commission (SEC) ruled over the XRP matter, it will not affect the token as he expects it to hit an all-time high. According to Bill Morgan, settling the XRP-SEC lawsuit is essential for the future of XRP.

No appeal will disturb the finding XRP itself is not a security. You are correct the SEC said it will not appeal that finding. The market took it into account as the short term price rises showed.
I think the market did care about the lawsuit but the impact on XRP price was baked… https://t.co/CNj7uUR9Bj

— bill morgan (@Belisarius2020) March 8, 2024

He added that it’s not just about determining whether XRP is a security; it’s also about ensuring that XRP remains available on US exchanges and that XRP can continue its operations smoothly. Morgan believes resolving this issue is crucial for unlocking XRP’s full potential and pushing its value to new heights.

Bill’s tweet was followed by the opinions of other crypto users on how much the lawsuit has affected XRP’s price. Some believe the market had already considered the lawsuit’s impact by early 2021.

Investors are looking for clarity on XRP’s legal status and assurance that Ripple can operate independently, which they believe will increase XRP’s value.

As the ongoing Ripple vs SEC legal action continues to shape the market trend, XRP is trading at the $0.62 level, recording a  0.7% decrease in the past 24 hours. 

Ripple (XRP) daily chart | Source: CoinMarketCap

Meanwhile, Ripple whales are still accumulating XRP tokens, recently moving 373 million tokens in anticipation of a price rise. This accumulation happened within six different transfers from Binance. 

Disclaimer

This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.