Analysts are positive about the prospects of Ripple in the proceedings with the SEC

The Ripple price has updated its maximum since October last year, according to CoinGecko. On March 28, the price of the crypto coin rose to $0.504, that is, by more than 20% over the past 7 days.

The increase came after Ripple Labs representatives provided new arguments in defense of their position in a dispute with the SEC last week. Over the past years, the agency has insisted that the company offered investors XRP, which is in fact an unregistered security. In turn, the developers are convinced that the crypto asset does not fall under this definition.

Messari is optimistic about the future of Ripple, noting the increasing number of addresses on the XRP Ledger network. In addition, experts consider the blockchain implementation to be quite high-quality due to the fast financial transactions, because blocks are created every 3–5 seconds.

Santiment pointed out that activity on the Ripple network has risen to the highest level in 2023, and the increase in trading volume and attention to XRP will be a prerequisite for increased volatility.

Analysts are also sure that the positive mood in the Ripple community is also due to the fact that the US Commodity Futures Trading Commission (CFTC) in the proceedings with Binance classified such popular crypto coins, BTC, ETH and LTC, as goods.

Ripple lawyer John Deaton called this situation a “regulator versus regulator” trial. According to him, the powers of the SEC in the context of digital currencies are limited, and the key regulatory body for the crypto industry is the CFTC.

AKR Invest CEO Cathy Wood also believes that the SEC will not be able to prove the guilt of XRP developers. She stated that the regulator “may be on its way to losing” the Ripple case. On what such conclusions are based, Wood did not explain.

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