XRP Price Explodes With Ripple vs SEC Lawsuit Rumoured To End Today

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The XRP price is breaking out today on Wednesday, sparked by the rumours that the Ripple vs SEC lawsuit could end today. 

Crypto lawyer Fred Rispoli also expects a remedies ruling by today. 

The XRP price has climbed by nearly 8% today, with a 70% spike in its daily trading volume. The strong volume suggests that the token could see a bullish continuation in the coming days. 

The token’s bullish strength is especially impressive when considering that Bitcoin and most large-cap altcoins continue to show a bearish inclination. 

XRP is currently trading at $0.65, with a market capitalization of $36.4 billion. 

Could The Ripple vs SEC Lawsuit End Today?

SDNY District Judge Analisa Torres is currently deliberating over the remedies owed by Ripple for violating the Securities Act with its institutional sales. 

Judge Torres had ruled in July of last year that while Ripple’s programmatic sales did not violate the Securities Act, its institutional sales did. The judgement was a major win for Ripple, considering it proved that XRP is not a security in itself. 

However, the company does need to pay a fine for its illegal institutional sales. 

The remedies ruling could very well end the lawsuit between Ripple and the SEC. The Commission does have the right to appeal Torres’s original ruling. However, the odds for an appeal have decreased considerably, now that Chairman Gary Gensler is under fire from both political parties for his anti-crypto stance. 

Indeed, Republican candidate Donald Trump vowed to fire Gensler of his first day and experts believe that Kamala Harris would also nudge the Chairman out of the Commission if she wins in November. 

This bipartisan criticism means that the SEC is under significant pressure to end its lawsuit against Ripple and the remedies ruling may do just that. 

Could The XRP Price Reach $1 In August?

Technical analysis proves that the XRP price could see a strong bullish continuation in August. 

For instance, onchain crypto platform Santiment reveals that the amount of wallets holding at east 10k XRP has skyrocketed in the past 5 weeks. The increase in the sharks and whale wallets indicates that smart money investors are optimistic regarding XRP’s prospects. 

Popular crypto trader Milkybull Crypto (@MilkybullCrypto) reveals that XRP has broken out of a bull pennant pattern, indicating a strong continuation in the coming days. 

Similarly, analyst Captain Faibik (@CryptoFaibik) highlights that a breakout above the multi-year symmetrical triangle has now been confirmed on the XRP price chart, which has target of $2.50. 

All eyes are now on the upcoming remedies ruling and the impact it will have on the token’s price. The bulls would aim for a monthly close above $0.66, paving the way for a substantial upside rally in August. $0.90 would then be the next major resistance, breaching which would result in XRP hitting $1 and beyond. 

Experts Believe WienerAI Could Also Explode In August

XRP isn’t the only cryptocurrency that experts are bullish on for August. Ethereum meme coins are also expected to see substantial growth, owing to the strong spot Ethereum ETF inflows. 

A new ERC-20 meme coin – WienerAI (WAI) – is also in high demand, having raised over $9 million in its highly-successful presale. The token will go live on August 5th amidst substantial hype and FOMO. 

Smart money investors are also impressed with WAI’s real-world utilities and are expecting considerable adoption after its IEO.

For instance, WienerAI is launching the ChatGPT of crypto – an AI-powered Trading Bot that will offer investment-related suggestions, MEV protection and seamless swaps to token holders.

Additionally, WienerAI has already launched its staking protocol, allowing presale buyers to earn attractive yields, currently at an APY of over 100%. 

It is rare for new meme coins to offer such real-world use cases. There is a reason why WAI has been drawing comparisons with Floki. Consequently, some popular crypto traders expect the new meme coin to offer up to 100x returns. 

Interested buyers can still purchase WAI at its discounted presale price before its IEO.