XRP Prices Drop Over 10%, But Could Rebound on Lawsuit Outcome and Institutional Investment
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XRP is down over 10% in the past week but could rebound if Ripple wins its lawsuit against the SEC, establishing lighter crypto regulation.
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The lawsuit alleges Ripple raised funds through an unregistered securities offering, but a recent ruling went in Ripple's favor, boosting XRP prices.
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If traditional banks and financial firms invest billions into crypto, major coins like XRP could skyrocket, per a Wells Fargo analyst's $500+ price target.
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However, risks remain from potential unfavorable lawsuit outcomes, hacking attacks, or other blockchain payment solutions outpacing Ripple.
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But with XRP prices still depressed, the analyst recommends buying now while cheap, before any potential major gains.