XRP Price Prediction: Will the SEC Settlement and Gary Gensler's Resignation Push XRP to $10?

Ripple's ongoing legal conflict with the SEC appears to be nearing a resolution, sparking optimism among XRP supporters. Rumors of an urgent meeting to discuss a settlement, coupled with SEC Chair Gary Gensler's resignation, have fueled expectations for regulatory clarity.

Coin Edition’s analysis reveals that a combination of factors, including Ripple’s ongoing legal conflict with the SEC, rumors of an urgent meeting to discuss a settlement, and SEC Chair Gary Gensler’s resignation, could propel XRP’s price to $10.

Here’s a closer look at each factor and its potential impact on XRP’s price.

1. Ripple’s SEC Lawsuit Nearing Resolution

Ripple’s legal battle with the SEC over XRP’s classification has been closely followed by the crypto community. The outcome of this lawsuit will significantly determine XRP’s future.

Recent developments, such as the court’s decision to allow Ripple to use Hinman’s speech materials in its defense and the SEC’s attempt to block XRP holders from joining the lawsuit, suggest that the case is nearing a resolution.

2. Rumors of Urgent Meeting to Discuss Ripple Settlement

Unverified rumors circulating on social media claim that an urgent meeting will be held on March 13th to discuss a settlement in the Ripple case. The meeting is reportedly expected to include SEC officials, Ripple executives, and representatives from the Biden administration.

While these rumors should be taken with a grain of salt, they have sparked optimism among XRP supporters, who hope that the meeting will result in a favorable settlement for Ripple.

3. SEC Chair Gary Gensler’s Resignation

SEC Chair Gary Gensler, who has been criticized by the crypto industry for his hardline stance on digital assets, recently announced his resignation from the post, effective April 17th.

Gensler’s resignation is seen as a positive development for the crypto industry as he was largely responsible for the SEC’s aggressive approach to regulating cryptocurrencies.

4. Pro-Crypto Administration Shift Could Boost XRP

With Gensler’s departure and a potential pro-crypto Trump administration, the regulatory landscape for cryptocurrencies could shift dramatically.

The Trump administration was generally more favorable towards cryptocurrencies than the Biden administration, and this shift could benefit XRP by reducing regulatory pressure on the token.

5. XRP: ‘Bitcoin 2.0’ for Real-World Applications

Farina refers to XRP as “Bitcoin 2.0” due to its ability to process transactions in under three seconds at minimal cost. This capability makes XRP ideal for real-world applications, such as cross-border payments and supply chain management.

Despite being “4th-5th in line” for crypto adoption by institutions, XRP is gaining ground, with Grayscale, Bitwise, and 21Shares all filing for XRP ETFs.

6. Ripple’s IPO to Attract New Investors

Farina believes that Ripple’s upcoming IPO will attract new investors and increase network activity. Such a listing would boost Ripple’s visibility and attract new investors to the XRP network.

7. Ripple’s Global Reserve Currency Ambitions

Farina highlights Ripple’s efforts to replace traditional Nostro-Vostro accounts with XRP as a global reserve currency, which could reduce circulating supply and increase demand.

8. Possible Ripple-X Partnership for Creator Payouts

Musk’s vision for X as a payments hub aligns with XRP’s capabilities for fast, low-cost cross-border transactions. Farina argues that such a relationship could transform creator payouts and raise XRP’s value.