- Ripple Labs Inc. faces a pivotal court hearing on January 11, which could significantly influence the future of XRP.
- The outcome of the Ripple vs. SEC lawsuit may lead to a substantial shift in XRP’s market value, with potential for substantial price growth.
As the new year starts, Ripple Labs Inc. is gearing up for a crucial court hearing in the Zakinov v. Ripple Labs Inc. case, as listed in the United States District Court for the Northern District of California. A significant event is scheduled for January 11, involving a webinar on Zoom to discuss the motion to approve the form and manner of class notice in this class action lawsuit.
Limited Access Webinar and Court Guidelines
The webinar, addressing key aspects of the class action suit, is limited to certain participants. All counsel involved must adhere to specific guidelines set for the hearing. This information was recently highlighted in a blockchain community tweet Crypto Eri.
Zakinov et al v. Ripple Labs, Inc. et al
This is a ZOOM HEARING set for 1/11/2024 at 01:30 PM
Webinar Access: All counsel, members of the public, & media may access the webinar information at https://t.co/7BcPnPVugN
Zoom Guidance: https://t.co/uXJrxSbYzgFollow the rules
—
Crypto Eri
Carpe Diem (@sentosumosaba) January 4, 2024
Details regarding participation, including obtaining class status through registration for either Public or Non-Public Hearings, are available on the court’s website, led by Senior District Judge Edward M. Chen.
Important Dates in Ripple vs. SEC Lawsuit
The FlipTheChain team, through their X platform, has outlined critical dates in the ongoing Ripple vs. SEC lawsuit:
- Feb 12, 2024: Remedies briefing commences.
- Mar 13, 2024: SEC files its remedies brief.
- Apr 12, 2024: Ripple submits its opposition.
- Apr 29, 2024: SEC presents its reply.
These dates mark important milestones in the lawsuit, potentially leading to its resolution.
Impact of Lawsuit Resolution on XRP Price
Inflows into XRP surged in the previous year, as reported in CoinShares’ annual report on January 3rd. This has led many in the XRP community to maintain a bullish outlook on the cryptocurrency’s potential, especially in light of the upcoming critical court hearing on January 11th.
Notably, a trader and XRP holder, The Egrag Crypto, predicts an upward swing in XRP’s price, potentially reaching $1.80. This optimistic view is supported by technical analyses and recent market trends.
At present, XRP is trading at around $0.58, having experienced a minor dip of 8.37% last week, but showing a slight 24-hour increase of 0.24%. The cryptocurrency is attempting to surpass and stabilize above the $0.65 mark.
Future Predictions for XRP
Analysts, including those from CNF, anticipate a potential 8 to 10 times surge in XRP’s value in its next rally, possibly reaching $6.20. This prediction hinges on XRP’s historical performance, which often shows a delayed reaction to general market rallies, followed by a strong breakout.
As Ripple prepares for its momentous court hearing, the XRP community and investors are closely watching. The resolution of the Ripple vs. SEC lawsuit could be a turning point, potentially driving XRP prices to skyrocket. Whether these bullish predictions will materialize remains to be seen, but the upcoming period is undoubtedly critical for both Ripple and XRP.
