XRP Price Prediction – Can XRP Reach $10 By 2024?

XRP continues to be a favorite of investors and continues to be among the most traded coins by volume.

Although volume in the last 24 hours was down 25% compared to the previous 24 hours, XRP trails only Bitcoin, Ethereum and the three largest stablecoins (USDT, USDC, BUSD) with $1.7 billion in volume.

Its short-term outlook could see the coin go as high as $0.60-$0.70 — as CryptoNews reported Thursday — but it’s the coin’s long-term potential that’s exciting investors.

As everyone in the crypto space knows, XRP’s parent company Ripple has been locked in a nearly two-year battle with the US Securities and Exchanges Commission (SEC).

Despite the lengthy court case, XRP has remained in the top 10 by market capitalization, given the strength of its underlying technical fundamentals.

If Ripple wins the court case, it looks set to be adopted on a mass scale at the institutional level – not just by businesses, but even by central banks and governments.

A victory in court would not only trigger mass adoption, but a mass investment in XRP that would send the coin parabolic and likely break the January 2018 record high of $3.84.

Ripple Winning SEC Lawsuit?

It is impossible to know how the Ripple vs SEC lawsuit will actually play out, but there have been several hints in recent weeks and months that suggest the case is going its way.

In late September, a US District Judge, Analisa Torres, allowed Ripple to use comments made by former senior SEC employee William Hinman to be used in their case.

Hinman’s comments, made via email in 2018 while he was employed as director of the Treasury Department, reportedly describe ether (ETH) as not a security since, 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 created by a former employee and did not necessarily represent the views of the entire organization.

In addition, they asserted attorney-client privilege that protects internal voice communications.

The emails are a cornerstone of Ripple’s defense and critical evidence in their case to prove that XRP, like ETH, is not a security.

The judge allowing Ripple to use them was seen as a big win for the crypto firm.

The case is also nearing the finish line after both sides agreed to summary judgment, meaning a verdict could be reached at almost any time – and almost certainly within the next 12 months.

In mid-September, Ripple CEO Brad Garlinghouse also gave an interview to CNBC and seemed convinced that the verdict would go in his favor. He said:

“You have to remember that 99.9% of XRP trading has nothing to do with the Ripple company. So when you talk about, okay XRP is a security, I go back to something I said years ago when they started: ‘ A security for which company?Who is the owner?

“I think it is very clear that there is no investment contract. If you get past the investment contract, which I think is difficult, across the Howey test, you have to meet all three prongs, and in the case of the XRP case, you can’t meet all three prongs with certainty.

“And so we think the judge will see that the law is very clear, we think the facts are clear and that this is just a gross overreach by the SEC trying to wrest control over the uncertainty that has existed.”

Garlinghouse added that future lawsuits will later be known to have to pass the “Ripple Test,” given that this is the first of its kind and destined to be a landmark decision on crypto regulation.

“I think the ‘Ripple Test’ could be what we’re looking at in the future. There are a lot of facts and circumstances that could be unique, but for Ripple, and what the SEC is trying to do, I think it’s just the SEC trying to overstep the statute.”

This week, Ripple’s lawyers also blasted the SEC’s opposition to the I-Remit and TapJets motions to file amicus briefs.

Their proposal read: “If the SEC cannot assess the truth of such allegations, then it had no business bringing this lawsuit in the first place.”

Elon Musk Twitter Deal Good for XRP?

Elon Musk restoring his $44 billion Twitter deal is also seen as good news for XRP’s price by some.

Musk, a noted crypto fan and the world’s richest man, is believed to add social media tipping and payment features if he completes the landmark takeover.

Dogecoin is expected to be the biggest beneficiary, given Musk’s long history with the meme coin, but some predict that coins like XRP will also benefit.

CBDCs and Binance Support

As Reuters reported on Thursday, financial messaging system SWIFT ended its eight months of testing for a global central bank digital currency (CBDC).

SWIFT tested a number of different protocols that were not named, but XRP and its Ledger were considered to be one of them, given its status as a high-profile CBDC solution.

Binance, the world’s largest centralized exchange, has continued to show support for XRP, and many are taking that as a hint that Binance believes Ripple will win the lawsuit.

The exchange added XRP to its ‘Learn and Earn’ section and has also offered the token to its users as a dual investment.

XRP Price Prediction

Whether XRP ever reaches $1 or $10 depends on the verdict in the lawsuit against the SEC.

If Ripple loses, it could almost signal the end of the protocol as a legitimate investment.

But should it win – and there are strong hints that it might – the price will see massive gains.

Not only would a court victory see retail investors and crypto enthusiasts flock to buy the coin, but Ripple is also one of the best-placed projects to secure mass institutional adoption due to its underlying technical solutions.

A court win not only ensures this adoption due to Ripple’s fundamentals, but also makes it the first crypto-asset to be fully regulated by the US government and legal system.

It will only attract further investment from institutions that have previously avoided adopting blockchain and Web3 technologies.

A court case win means any price is on the table for XRP, and it is likely to test all-time highs in the coming years.

While XRP is a very appealing coin, diversification in any portfolio is key. Another project that will offer carbon credits and looks set to make big gains in the coming months is IMPT, which has secured more than $1 million in investment in just three days after its pre-sale.