Ripple settlement may trigger XRP price to skyrocket, says FXOpen executive

Rick Steves

Natalia Zakharova from FXOpen, the leading retail and institutional FX broker, told Finance Feeds that Ripple is expected to either win or the case to be settled in Ripple’s favor. 

The SEC v. Ripple lawsuit is currently waiting for a court decision on the SEC’s motion for reconsideration, in which the plaintiff now claims the ex-SEC Hinman’s 2018 speech was public guidance rather than his personal opinion.

The 180º turn aims to persuade Judge Sarah Netburn to consider the notes and emails related to Hinman’s speech to be protected by DPP.

The upcoming ruling has been said to be the “biggest decision” in the XRP lawsuit and is likely to take place ahead of the scheduled settlement meetings hosted by Judge Netburn, who has seen all the privileged documents. The mediation could successfully help Ripple and the SEC to reach a settlement as soon as April.

Settlement in the SEC v. Ripple is believed to be a potential major trigger for the next price moves in the XRP market. The digital asset’s market performance has disappointed many, who believe the court case has caused hesitancy in XRP adoption within the industry.

Crypto holders and investors may have also refrained from buying or doubling down on their holdings. The delisting of XRP at Coinbase and many other US exchanges also took its toll.

Will XRP skyrocket amid settlement in SEC v. Ripple?

Finance Feeds has spoken to Natalia Zakharova, Head of Business Development at FXOpen, to ascertain her views on the XRP lawsuit and the potential for an upside triggered by settlement.

“Whilst it is not yet conclusive, there is definitely a sway of opinion toward the litigation against Ripple to be settled in its favor, and many leading academics from major universities have already publicly stated opinions that the lawsuit is baseless and that Ripple will either win, or it will be settled in Ripple’s favor outside of the courtroom.”

As to the price of XRP, Ms. Zakharova said “there is most definitely a possibility of its value accelerating dramatically” as Ripple kept building its scope and network across the globe, thus making XRP at the center of a larger economy. The digital asset not only reduces transaction fees but it is also placed as a default digital settlement currency which can act as a mediator between all other digital transactions.

The FXOpen executive concluded that, besides Ripple’s successful play in court and the expanding network for XRP, current events could also positively affect the price of XRP as inflation, stagnation, and economic war may trigger a surge in demand for crypto, with XRP as a natural favorite.

Read this next

Retail FX

Finalto sweetens offering for African traders with localized FX pairs

Finalto, the financial trading division of Gopher Investments, announced today that it has extended its offering with inclusion of a number of African Pairs to its trading platforms.

Digital Assets

BitMEX secures OAM registration to operate in Italy

Crypto exchange BitMEX has won regulatory approval from Italy’s financial regulators, allowing the exchange to continue serving Italian customers.

Institutional FX

FlexTrade integrates Glimpse’s post-trade bond execution data

“Looking further ahead, this integration also presents multiple opportunities for how fixed-income traders could leverage the trading data. For example, traders could tap Glimpse data as an input to AI-driven automation workflow strategies in the future.”

Industry News

FINRA fines UBS $2.5m for Reg SHO violations and supervisory failures

FINRA has fined UBS $2.5 million for Reg SHO violations and supervisory failures spanning a period of nine years.

Digital Assets

Bitfinex Pay launches feature that minimizes volatility risk

The currency conversion will take place every five minutes on any amount above $10.

Digital Assets

Mastercard launches Crypto Secure for risk assessment in digital asset space

“Crypto Secure will provide card issuers with a platform that allows them access to insights which will improve the safety of crypto purchases, increasing consumer confidence and creating the same trust they expect when paying with Mastercard.”

Retail FX

VT Markets wins 4 more awards including Best Forex Mobile App Global 2022

“Over the past few months, we have noticed a huge spike in downloads and daily active users on the VT Markets App. Our clients can trade multiple asset classes with ultra-low spreads, and access timely market news on our mobile app.”

Institutional FX

Blue Ocean ATS enhances price discovery and liquidity for after hours US stock trading

Liquidity and price discovery, missing from previous overnight trading solutions, are now possible utilizing the TNS network and managed service platform. Security of the private network and its access to all public clouds, uniformity of compliance and regulatory oversight, redundancy and recovery capabilities, plus the localized customer service around the world made TNS the best candidate for this major step in Blue Ocean Technologies’ growth.

Executive Moves, Retail FX

Equiti Group wins CySEC license to expand into Europe

“Regulation and good governance have always been and will continue to be a key part of Equiti’s business model.”

<