Ripple Labs Inc. Litigation: XRP Price Predictions Suggest the Crypto Is Ready for Its Next Leg to the Upside

Ripple has secured a major win in the class action suit against the crypto firm, XRP II LLC, and CEO Brad Garlinghouse. This win provides a bullish outlook for the XRP price

Ripple (XRP) has secured a major win in the class action suit against the crypto firm, XRP II LLC, and CEO Brad Garlinghouse, with the court granting a joint motion for entry of judgment and stay as modified by the court.

This development comes after the court found good cause in the defendants’ unopposed motion and ordered entry of judgment in relation to the plaintiff’s class claims that were resolved in favor of the defendants.

Specifically, the defendants were found not liable for claims alleging that they violated the Securities Act for the unregistered offer and sale of XRP, and not liable for violation of the Securities Act against Ripple and Garlinghouse for control person liability.

Additionally, the other two class claims resolved in favor of the defendants include not being liable for violation of the California Corporations Code for primary breach of the restriction on the offer or sale of unregistered securities, and not being liable for the class claim that Ripple and Garlinghouse violated this California code for control person liability in relation to the XRP sales.

However, the Plaintiff’s claim for relief against the defendants was stayed by the court until the final resolution on any or all appeals of the class claims.

This development further supports the notion that XRP is not a security, following Judge Analisa Torres’ ruling to the same effect last year.

Meanwhile, as Donald Trump gets sworn into office and SEC Chair Gary Gensler announces his resignation on January 20, 2025, the XRP price has broken above $1 and is experiencing bullish momentum, given what Gensler’s departure could mean for the crypto.

According to crypto analysts, this bullish outlook bodes well for XRP, priming it for another leg up in price.

In an X post, crypto analyst Mikybull Crypto suggests that XRP’s movement to $2 has begun, a level that the analyst anticipates the crypto could reach this week.

Furthermore, crypto analyst CrediBULL Crypto opines that XRP wants to reclaim its ‘top 3’ spot, referring to the crypto’s intention to return to being one of the top three largest coins by market cap.

Before the Ripple SEC lawsuit commenced in 2020, XRP had occupied this position alongside Bitcoin and Ethereum.

At the time of writing, XRP is trading at around $1.60, up over 6% in the last 24 hours, according to data from CoinMarketCap.