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- Ripple closes its long-fought case with SEC of 4 years with $125 million in civil penalties.
- Top analyst shares expectations for XRP with the first being an XRP ETF over a SOL ETF.
- He also shares a bull case of $16-$20 for XRP and a bear case of $4-$7 XRP price.
Ripple has been in a long-fought battle for 4 years, a battle that is finally reaching the finish line. This winning battle for Ripple was inevitable since Judge Torres confirmed that XRP is not a security. Since then the only remaining hurdle was Ripple to close its civil penalties, where the SEC demanded $2 billion.
Ripple Clears Battle With SEC in Victory
Ripple refused to pay an unreasonable high price in penalties and proposed a rebuttal of a much smaller amount. In Judge Torres’ latest ruling, Ripple’s rebuttal won and the crypto entity must now pay a small civil penalty of $125 million.
BOOOOOOOOOOOOOOOOOOM!!!
— JackTheRippler ©️ (@RippleXrpie) August 7, 2024
Judge Torres has ruled that @Ripple shall pay $125 million in civil penalties and cease any further violations of securities laws, concluding the protracted four-year legal dispute with the SEC!
Congratulations #XRP holders we made it! 💪 pic.twitter.com/GS90APKgGd
This move is a sweet victory for Ripple after a tumultuous battle with the SEC. Ripple did not back down and long-term Ripple holders are now pleasantly awaiting their hard-earned rewards. In light of this monumental move, the silver-tongued crypto analyst, Doctor Profit shares his expectations for XRP in the coming months.
$XRP – The Big Report:
— Doctor Profit 🇨🇭 (@DrProfitCrypto) August 7, 2024
Everyone who knows me understands that I'm a major investor in XRP. This report is going to lay out the facts and show you exactly where we’re heading next.
XRP is a masterpiece for the long term. If you’re thinking of making a quick buck with day trading… pic.twitter.com/w6ww9uSE6v
Doctor Profit has advocated for XRP for a long time. He sees that XRP is the only other token to hold the top ten cryptos titles alongside Bitcoin (BTC) despite its many challenges over the last 4 years. He says that despite XRP struggling to reclaim its previous ATH, the asset is still a very potent crypto. With an expectation of XRP being the next ETF launch over SOL, he continues with his TA.
$16-$20 Bull Price Set for XRP
The analyst has been accumulating XRP in bulk over every dip and encourages traders to do the same, especially between the $0.38 and $0.44 price range. He says that XRP has faced six rejections at its major resistance level of $0.72.
Lastly, he advises that even if it fails to break resistance again, simply accumulate more because the break to $1 will be inevitable as the asset is mirroring its 2017 pump of 60,000%. Doctor Profit expects a new ATH of $16 for XRP with a bull case scenario of between $16-$20 and a bear case scenario of $4-$7.