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Crypto podcaster Abdullah Nassif recently commented on the potential price of $XRP, assuming the SEC lawsuit against Ripple never happened.
Notably, four years ago, in December 2020, the U.S. SEC took Ripple to court for allegedly selling unregistered securities in $XRP tokens.
A week before the lawsuit, $XRP traded at $0.6539. However, following the announcement of the suit on December 22, 2020, $XRP’s price took a hit. Specifically, it crashed by over 50%, dropping to $0.2214 by the next day.
The price slump worsened over the subsequent days, bottoming at $0.1748. This was the lowest price $XRP ever reached following the SEC lawsuit filing, according to CoinMarketCap data. From this point, the asset recovered, though the price remained within a confined range between $0.3 and $0.5.
Notably, from $XRP’s pre-lawsuit high of $0.6539 in December 2020 to its lowest point of $0.1748 on December 29, 2020, the legal development caused a 73% drop in $XRP’s price. For context, an investor who had $100K in $XRP saw their portfolio drop to $26,756.
Fast forward to today, after $XRP won the SEC lawsuit, the token is trading at $3.15. This marks a massive recovery of 1,338% from the lawsuit-induced lows of $0.1748.
What if the SEC Lawsuit Never Happened to $XRP?
Meanwhile, $XRP enthusiasts are now pondering what the current price of $XRP might be if the SEC had never sued Ripple.
Widely followed market commentators, like Abdullah Nassif, have argued that $XRP could be worth $12.80 per token. He derived this figure by drawing inspiration from Bitcoin’s performance after the 2020 halving.
$XRP Potential Price Based on Mathematical Estimations
On the day the Bitcoin mining reward halved on May 11, 2020, $XRP traded at a low of $0.1885. Three months later, it briefly rose to 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.
Meanwhile, $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. Essentially, $XRP could be trading much higher than $8 if the lawsuit had never happened.