What Would XRP Price Be Today If the SEC Lawsuit Never Happened?

Crypto podcaster Abdullah Nassif recently commented on the potential price of XRP, assuming the SEC lawsuit against Ripple never happened.

Crypto podcaster Abdullah Nassif recently shared his thoughts on XRP's potential price if the SEC had never filed a lawsuit against Ripple.

The SEC took Ripple to court in December 2020 for allegedly selling unregistered securities in XRP tokens. A week before the lawsuit, XRP traded at $0.6539. However, the announcement of the suit on December 22, 2020, caused XRP's price to crash by over 50% to $0.2214 the following day.

According to CoinMarketCap data, XRP's price continued to decline over the next few days, reaching a low of $0.1748. This marked the lowest point XRP reached following the SEC lawsuit filing. From this point, the asset recovered, with its price remaining within a confined range between $0.3 and $0.5.

According to CoinMarketCap data, XRP's price dropped by 73% from its pre-lawsuit high of $0.6539 in December 2020 to its lowest point of $0.1748 on December 29, 2020. For instance, an investor with $100K in XRP during this period would have seen their portfolio shrink to $26,756.

After XRP prevailed in the SEC lawsuit, the token's price increased to $3.15. This indicates a substantial recovery of 1,338% from the lawsuit-induced lows of $0.1748.

XRP enthusiasts are now speculating on what the token's current price might be if the SEC had never taken legal action against Ripple.

Abdullah Nassif, a well-known market commentator, suggested that XRP could be trading at $12.80 per token. He arrived at this estimate by considering Bitcoin's performance following the 2020 halving.

On May 11, 2020, the day of the Bitcoin mining reward halving, XRP was trading at a low of $0.1885. Three months later, it briefly entered the $0.30 range. By November, XRP had surged by 307%, climbing from its low on Bitcoin halving day to a daily high of $0.768.

Meanwhile, on December 22, 2020, when the suit was revealed, XRP traded at an intraday high of $0.5216. If the suit had never happened, XRP's trajectory may have continued from this price rather than the dip to $0.1748.

Since XRP soared by 1,560% from this low, a similar growth from $0.5217 would put XRP's price at $8.65.

However, XRP's ascent during the 2020/2021 bull season was largely hindered, as many U.S. exchanges had already delisted the token, limiting market access. As a result, XRP could be trading much higher than $8 if the lawsuit had never occurred.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.