The analyst also made a parallel to Coinbase's successful IPO, estimating that Ripple's price may reach $107 billion, or $600 per share, which is 20 times its present value.
XRP Price predictions reveal that the Ripple vs SEC case is soon going to get an ultimate decision in June-July. Members of the XRP community who hold the altcoin are anticipating the conclusion and guessing on when Judge Analisa Torres will issue her decision, with many expecting July 2 to 4 as the most likely dates.
The SEC vs. Ripple legal dispute has been going on since 2020, with the agency charging Ripple and its officials of breaking US Securities rules by selling XRP. However, Ripple's legal team claims that there was insufficient "fair notice" and that XRP is not a security.
Meanwhile, as the case closing day approached, everyone wanted to take their piece of cake. It's more of a probability than just mere speculation that investors do not want to miss this highly exaggerated opportunity if Ripple wins the case. It's more likely to be a fair judgement and according to Ripple lawyer John Deaton, US Securities and Exchange Commission barely has a 3% chance to win this case outright.
Moreover, Ripple is launching an IPO is another positive news driving the prices right now.
As its legal battle with the Securities and Exchange Commission (SEC) nears its conclusion, Ripple (XRP) is allegedly exploring an initial public offering (IPO).
Linda P. Jones, a seasoned Wall Street veteran with 25 years of expertise, hinted at this possibility in a May 31 interview with Digital Perspectives by providing her professional judgement on the potential ramifications of a Ripple Initial Public Offering (IPO).
Jones conducted an initial review to estimate Ripple's potential stock value. Using the most recent data from private investing firm Linqto, she calculated Ripple's current share price to be $35, corresponding to a $5.7 billion valuation.
Jones emphasised Ripple's enormous XRP reserves, stating that the 42 billion XRP tokens kept in escrow are currently valued at $21 billion, assuming a market rate of $0.50 per token. This estimate alone, in her opinion, exceeds Ripple's current market value by four times, indicating a huge undervaluation and implying that Ripple's genuine worth could be significantly higher.
This could easily trigger another uptrend in XRP price as the market experts are suggesting that if Ripple wins the case, there are chances of XRP soaring to $3 per token.
At the press time, XRP (XRP) price is $0.531147, with a 24-hour trading volume of $1,566,977,583. This is a 1.01% increase in the previous 24 hours and a 10.43% increase in the last 7 days. With a circulating quantity of 52 billion XRP, XRP has a market capitalization of $27,619,751,815.
On the daily chart, XRP could be seen making a highly bullish uptrend and reaching the previous resistance of $0.53 in recent days. The uptick is due to the inverse head and shoulders pattern which could be observed on the chart.
The bullish pattern is drawn totally at the $0.46 price and a breakout from there took the prices to the next resistance level and soared 15%. Additionally, the 100-day MA and 200 Day MA are below the trading price and hence confirm the bullish push.
The RSI is at level 70 which is considered as a highly overbought zone and prices could see a correction at this level. If XRP consolidates between $0.53 and $0.50, it's more likely to stabilize the XRP price and the RSI will come down without much price deflection.
In conclusion, investors are waiting for the Ripple vs SEC outcome while putting as much as they can into the token due to the optimistic proceedings of Ripple into the case. The technical indicators are pointing towards a slight bearish effect due to price correction. Overall, the XRP price prediction is positive.