- According to the “XRP Researcher”, the XRP price could increase by more than 2000% after the SEC lawsuit
- World famous YouTuber Daniel Keem bought 1 million XRP worth $276,600 to profit from a Ripple-favoring outcome of the SEC lawsuit.
The US Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs has massively hurt XRP investors. After the lawsuit was announced shortly before Christmas, the XRP price crashed by more than half. Even though the price has shown some recovery since then, the ongoing negative headlines about delistings are depressing the market sentiment around XRP.
While other altcoins such as Cardano or Polkadot have been posting triple-digit gains in recent weeks, XRP is currently bobbing around below the $0.30 mark. Polkadot (DOT) has already overtaken XRP by market cap, and Cardano (ADA) is on the verge of doing so. However, two market participants claim that the pendulum will swing once the SEC lawsuit is shelved.
Can XRP rise over 2,000% after the lawsuit?
True to the investment wisdom of “not following the crowd” or trading against the psychology of the crowd, two community members are currently predicting a massive price increase as soon as Ripple settles or wins the lawsuit with the SEC. The YouTuber “XRP Right Now” told his 27,600 followers on Twitter that a price recovery is likely due to previous SEC lawsuits.
The “XRP Researcher” pointed to the excellent performance of the KIN token after Kik survived its battle against the SEC. After the conclusion of the legal battle with the SEC, which won the case and allowed the token to be classified as a security, KIN experienced a roughly 2,000% price increase.
If Ripple is victorious in court, all exchanges that suspended trading of XRP are expected to reverse their decisions. Since XRP was traded on many more exchanges than KIN, the effect could be even greater, according to the YouTuber.
Famous non-Crypto YouTuber bets on XRP
The theory is currently gaining support not only within the XRP community, but also beyond this sphere. Daniel Keem, an American YouTuber with 5.8 million followers who is also known as Keemstar and founder and host of DramaAlert, has bought XRP to profit from a Ripple-favoring outcome of the SEC lawsuit against Ripple.
Yesterday, Keem, who describes himself as a “degenerate gambler,” shared via Twitter that he purchased 1 million XRP worth $276,600. Keem expects that XRP can reach a price of USD 2.00 after the SEC lawsuit is settled and tweeted, “I’m not a financial advisor! I’m a degenerate gambler! May the crypto gods be with me! Let’s win / settle this lawsuit & see $2 XRP!”