Here are 3 reasons why the Ripple XRP price is set for a huge explosion

XRP’s price has fallen this year, as has the price of many other cryptocurrencies. The major coin has fallen 52.3% since the beginning of the year, reflecting the general declines in the cryptocurrency market, which is not surprising given its position.

XRP, despite the decline, remains an attractive investment option for investors. As the year draws to a close, there is renewed hope that the coin’s value will rise. This article will share three reasons for this hope.

Ripple’s XRP token has become the market’s de facto standard for cross-border payments, and it has significant application for investors looking to earn and users who require crypto-specific functionality.

The SEC case may come to an end

The case between XRP’s developer, California-based Ripple Labs, and the Securities and Exchange Commission (SEC) has been a major obstacle for the past year and a half.

In December 2020, the securities regulator sued Ripple, accusing the company of violating securities laws when it offered XRP to investors in its initial coin offering (ICO).

The case has significantly affected XRP, including the asset’s delisting from several cryptocurrency exchanges. However, it could have far-reaching market implications because it could pave the way for the SEC to classify digital assets as securities in the future.

Meanwhile, there was renewed optimism last week that Ripple would prevail in this legal battle. Both parties sought summary judgment in separate filings in the United States District Court for the Southern District of New York.

These judgments are issued when a party believes there is enough evidence to make a decision without a trial. Furthermore, Ripple’s management has maintained that the SEC has failed to establish a basis for classifying XRP as a security.

It is unclear whether the SEC case will be resolved soon. Nevertheless, XRP investors are optimistic.

CFTC visit increases prospects for favorable classification

While battling the SEC over the best classification for XRP, Ripple Labs appears to be in advanced talks with another financial watchdog.

Caroline Pham, the commissioner of the Commodity Futures Trading Commission (CFTC), confirmed earlier this week that she met with Ripple Labs CEO Brad Garlinghouse as part of her “learning tour” about cryptocurrency. The visit raised hopes that XRP could be classified as a commodity rather than a value, as the SEC wants.

Proponents of cryptocurrencies have repeatedly argued that the CFTC should regulate them. Thus, Pham’s visit to Ripple and her interaction with Garlinghouse heightens the sentiments of holders as well as the position of law enforcement and regulators.

Energy consumption in the spotlight

For over a year, the crypto market has been admonished for its role in climate change. Tesla has stopped accepting Bitcoin as payment, and several lawmakers have expressed their disdain for digital assets and their excessive resource consumption.

However, Ripple wants to change the narrative. Earlier this week, Ripple Labs announced that it had signed the Climate Pledge, joining over 375 other companies working to create an energy-positive future.

The market’s focus will probably continue to be on energy consumption. Ethereum recently completed its proof-of-stake (PoS) transition, which is expected to reduce up to 0.2% of global carbon emissions. Ripple puts itself at the forefront of this battle to stay ahead of the curve forever.

Update – XRP also holds its value well despite crypto prices crashing after the FOMC – XRP outperforms Bitcoin, and Ethereum to a greater extent.

Tamadoge: Perfect for investors looking for gains

Although XRP appears to be an exciting asset, there are other huge opportunities for investors to make money. Such an opportunity is presented by Tamadoge (TAMA).

Tamadoge, which debuted in 2022, bills itself as a “game to earn Dogecoin”. Currently, it is among the most popular projects in blockchain gaming, allowing players to earn via the original TAMA token. The platform is also trying to break into the metaverse, with its native Tamaverse launching soon.

TAMA recently completed its pre-sale, raising a total of $19 million. This pre-sale surpassed that of several well-known cryptocurrencies, including Ethereum. TAMA is now expected to list on centralized exchanges, making it more accessible to investors. With the Tamadoge platform expected to be fully operational in the fourth quarter of this year, it might be best to buy the coin now.