JP Morgan’s Report Argues That Ripple Winning Lawsuit Will Surge Its Adoption

In their latest’ Equity Research Report’, JP Morgan’s experts agreed that chances are pretty high for Ripple to win its high-profile lawsuit against SEC.

The report further included that this win of Ripple over SEC will significantly boost the XRP token as the token’s price will skyrocket.

Moreover, the report also includes that in case the court declares Ripple as the winner. Chances are high that XRP might stand right behind Bitcoin and ETH in terms of price.

The recent market volatility and the long-standing lawsuit were the core reasons that the price of XRP declined.

However, the native blockchain exchange of XRP, Ripple Labs, has signed contracts will some key industry players during that entire time to enhance the usage of XRP coins.

XRP Vs Swift

Ripple Labs originally developed XRP as the payment method for Ripple exchange.

The aim behind the development of this currency was to reduce the transaction fees and the time frame to complete digital transactions.

Before the development of XRP, the previous payment method used by investors was swift.

Swift was charging high transaction fees, which also required 5 working days to validate the transaction.

But with the usage of XRP, this time was reduced to 5 seconds. That’s how significant the development of XRP was. Ripple blockchain exchange supports more than 100 financial institutions.

These institutions include the Bank of America, Santander Bank, and American Express.

XRP is not a stablecoin as its price is not pegged by any paper currency such as USD.

But XRP is also not competing with stablecoins. XRP is a bridge token used to settle and validate international transactions.

JP Morgan’s report has also concluded that chances are high for Ripple to win the Lawsuit.

For SEC to win the Lawsuit, the current judge Sarah Netburn has to determine that all the four points picked by SEC are met.

If one of those points seems to be missing, Ripple will win the case.

What Will be The Outcome if Ripple Wins This Lawsuit

If Ripple wins this lawsuit, the trade of XRP will be back on the biggest exchange, such as Coinbase. This will give a significant book to the price rise of XRP. Moreover, XRP’s adoption will also rise.

As the picture is now in favor of XRP, experts are hinting that the price of XRP will soon reach to $3.40 mark. However, in the longer run, the price of XRP is predicted to touch the $50 mark.

But before all this happens, winning the case against XRP is mandatory.

The current lawsuit was filed against the top leadership of Ripple labs, the native company behind the development of XRP back in December 2020.

What Are the Key Indicators That Are Pushing Ripple Blockchain Exchange Close to Victory?

The outlook of this case shifted in favor of Ripple when the legal representative of crypto blockchain cited the SEC’s previous decision regarding the BTC and ETH.

In the SEC’s previous decision, BTC and ETH were recognized as cryptocurrencies but not securities by the SEC.

Moreover, Ripple also requests the judge to the public the SEC’s confidential document where it has branded BTC and ETH as digital tokens but not as securities.

Ripple has also won the key intervals of hearing against the SEC. It is expected that the final verdict on the case will be announced in April or May the next year.

Ripple has now gained a significant advantage over SEC in this case. Legal experts have already voiced that the result will favor Ripple.

As of today, XRP was trading at $0.35. This marks a 0.25% gain over the past 24 hours. However, the weekly charts show that the XRP price has increased by 2% over the past week.

Experts do believe that by the end of 2023, the price of XRP could reach $50.

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