Crypto podcaster Abdullah Nassif lately commented on the potential worth of XRP, assuming the SEC lawsuit towards Ripple by no means occurred.
Notably, 4 years in the past, in December 2020, the U.S. SEC took Ripple to court docket for allegedly promoting unregistered securities in XRP tokens.
Per week earlier than the lawsuit, XRP traded at $0.6539. Nevertheless, following the announcement of the go well with on December 22, 2020, XRP’s worth took successful. Particularly, it crashed by over 50%, dropping to $0.2214 by the subsequent day.
The worth stoop worsened over the next days, bottoming at $0.1748. This was the bottom worth XRP ever reached following the SEC lawsuit submitting, in response to CoinMarketCap knowledge. From this level, the asset recovered, although the value remained inside a confined vary between $0.3 and $0.5.
Notably, from XRP’s pre-lawsuit excessive of $0.6539 in December 2020 to its lowest level of $0.1748 on December 29, 2020, the authorized improvement precipitated a 73% drop in XRP’s worth. For context, an investor who had $100K in XRP noticed their portfolio drop to $26,756.
Quick ahead to right this moment, after XRP received the SEC lawsuit, the token is buying and selling at $3.15. This marks a large restoration of 1,338% from the lawsuit-induced lows of $0.1748.
What if the SEC Lawsuit By no means Occurred to XRP?
In the meantime, XRP fanatics at the moment are pondering what the present worth of XRP could be if the SEC had by no means sued Ripple.
Broadly adopted market commentators, like Abdullah Nassif, have argued that XRP may very well be value $12.80 per token. He derived this determine by drawing inspiration from Bitcoin’s efficiency after the 2020 halving.
XRP Potential Value Based mostly on Mathematical Estimations
On the day the Bitcoin mining reward halved on Could 11, 2020, XRP traded at a low of $0.1885. Three months later, it briefly rose to the $0.30 vary. By November, XRP had surged by 307%, climbing from its low on Bitcoin halving day to a every day excessive of $0.768.
In the meantime, on December 22, 2020, when the go well with was revealed, XRP traded at an intraday excessive of $0.5216. If the go well with had by no means occurred, XRP’s trajectory might have continued from this worth slightly than the dip to $0.1748.
Since XRP soared by 1,560% from this low, the same development from $0.5217 would put XRP’s worth at $8.65.
In the meantime, XRP’s ascent through the 2020/2021 bull season was largely hindered, as many U.S. exchanges had already delisted the token, limiting market entry. Primarily, XRP may very well be buying and selling a lot increased than $8 if the lawsuit had by no means occurred.
