XRP price may reach $1 if Ripple settles $125 million fine with SEC (ChatGPT Analysis)

TL;DR

XRP’s potential rise to $1 could be fueled by additional developments on Ripple’s anti-SEC front, such as the company paying the penalty. Other factors that can trigger a bull run include positive market sentiment and increased adoption. Is there a chance?

After a prolonged period of inactivity, the lawsuit between Ripple and the US SEC witnessed a massive development in early August. Judge Torres then ordered the company to pay a $125 million penalty for violating certain securities laws.

The sum may seem substantial, but it actually represents a 94% deduction from what the regulator initially asked for. This prompted numerous industry participants, including Ripple CEO Brad Garlinghouse, to describe the decision as a major win for the company.

Lately, there has been an increase in rumors that Ripple could settle with the SEC as early as this week. We decided to ask ChatGPT if this action could push XRP prices up to $1.

The AI-powered chatbot estimated that the penalty payment could be seen as a step towards reducing regulatory pressure around Ripple and its native cryptocurrency. As a result, price could head north towards the target mentioned above:

“A settlement with the SEC could ease concerns about potential legal setbacks for Ripple, leading to more positive market sentiment and possibly attracting new investors, which could boost the price.”

On the other hand, ChatGPT stated that there are other crucial factors that could play a role in this rally. Some of the main ones include favorable market conditions, increased adoption and additional support from exchanges.

The list of trading venues that introduced XRP services after Ripple’s first partial victory against the SEC last summer stretches far and wide. Some of those jumping on the bandwagon are Coinbase, Kraken, Gemini, Crypto.com and more.

Ripple’s latest presentation

Although some of the company’s executives agreed to court terms, the actual payment of the fine could be delayed. This was revealed in a recent motion filed by Ripple, in which its lawyers requested a stay of the monetary portion of the Court’s ruling filed last month.

The lawyers proposed to transfer 111% of the amount (approximately $138 million) to the legal team’s bank account as collateral. These funds are expected to be held for up to 30 days after the appeal period ends. Both sides have until early October to challenge the initial ruling.

“In the event that the appellate court vacates or modifies the Judgment, the parties will attempt in good faith to reach an agreement regarding the proper treatment of the Fund and will submit to the Court any disputes that they cannot resolve,” the letter says .

Some industry participants speculated that this action could be followed by a possible appeal from the SEC. On the one hand, US Attorney Fred Rispoli said:

“Going through all this effort to establish a trust for the funds increases the chances of an appeal at the IMO. But ultimately, this is just the safest move for the SEC to buy time until the 7 of October to appeal”.

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