First of all, many analysts state that the Ripple lawsuit has negatively affected the market value of XRP. Likewise, XRP has declined significantly in the last few weeks, falling to 7th place in market value. Commentators say that XRP could be pushed out of the top 10 with this trend.
Will Ripple Win The Case?
However, some people state that Ripple can win the case, and some say an agreement will be reached. There are also thoughts that XRP could regain its power in a possible positive situation. Attorney Attorney Stephen Palley, for example, thinks Ripple will reach an agreement with the SEC. Palley used the following statements:
“I wouldn’t be surprised if they asked for an additional 30 days and later dismissed the case. Rather, they answered within a month. In short, Ripple wants the case to be resolved quickly. “
Former SEC executive Joseph Hall is among those who think Ripple is likely to win the SEC case. The previous day, former SEC member Mary Jo White stated that the SEC’s case against Ripple was a grave mistake. US attorney Jeremy Hogan thinks that if no agreement is reached between the SEC and Ripple, the case could extend until 2023. Hogan stated that he expects the price of XRP to be artificially suppressed in a period of 6-9 months during this period. Analysts agree that XRP will be adversely affected in a case against Ripple.