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XRP continues to be a favorite for investors and continues to be among the most traded coins by volume.
Even though volume in the last 24hrs was down 25% compared to the 24hrs before, XRP trails only Bitcoin, Ethereum, and the three-largest stablecoins (USDT, USDC, BUSD) with $1.7 billion in volume.
Its short-term prospects could see the coin go as high as $0.60-$0.70 – as CryptoNews reported on Thursday – but it’s the coin’s long-term potential that has investors excited.
As everyone in the crypto space knows, XRP’s parent company Ripple has been locked in a near two-year battle with the US Securities and Exchanges Commission (SEC).
Despite the long court case, XRP has remained in the top 10 by market cap, given the strength of its underlying technical fundamentals.
If Ripple wins its court case, it appears primed to be adopted on a mass scale at an institutional level – not only by businesses but even by central banks and governments.
A win in court would not only trigger mass adoption but mass investment into XRP that would see the coin go parabolic and likely beat its January 2018 all-time high of $3.84.
Ripple winning SEC Court Case?
It is impossible to know how the Ripple vs SEC court case will actually turn out, but there have been several hints in recent weeks and months that hint the case is going their way.
Hinman’s comments, made via email in 2018 while he was employed as the Corporation Finance Division Director, allegedly describe ether (ETH) as not a security as, like Bitcoin, it is “sufficiently decentralized.”
The SEC previously objected to the documents being used, citing that they are irrelevant to the case as they were made by a former employee and did not necessarily represent the views of the entire organization.
Additionally, they asserted attorney-client privilege that protects internal speech communications.