• The recent Congressional hearing involving the SEC Chair Gary Gensler has sparked hopes of regulatory clarity in the United States, particularly for XRP.
• The European Union also recently passed the Markets in Crypto-Assets Act (MiCA) legislative standards that put the region ahead of other global markets.
• According to a cryptocurrency analyst, XRP is poised for a major upside after the final ruling on its ongoing lawsuit filed by the SEC.
XRP Price: Prepare for a Huge Upside In the Coming Days – Predicts Analyst
Congressional Hearing and EU MiCA Regulations Boost Hopes for Regulatory Clarity
The recent Congressional hearing that involved the US Securities and Exchange Commission (SEC) Chair Gary Gensler has rejuvenated hopes of regulatory clarity in the United States, especially for the sixth largest digital asset, XRP. Furthermore, the European Union parliament almost unanimously passed the Markets in Crypto-Assets Act (MiCA) legislative standards that put the region ahead of other global markets. Notably, Ripple Labs has made a tremendous entry into Europe’s market, having collaborated with local financial regulators on Central Bank Digital Currency (CBDC) development.
Thinning XRP Liquidity in US Promotes Expansion to Cross-Border Markets
With a thinning XRP liquidity in America, Ripple has not shied from expanding its services to other cross-border markets including Africa, Asia, South America, and Europe.
Cheeky Crypto Analyst Predicts Major Upside Ahead
XRP price action is under close watch by many crypto traders due to its ongoing lawsuit against SEC. According to Cheeky Crypto – a famous pseudonymous cryptocurrency analyst – XRP market is expected to have huge upside when outcome of this case is announced soon. As an example he referred to another similar case between Kik Interactive Inc Vs SEC which concluded with Kin token being charged as unregistered security and company paying $5 million penalty fee later on followed by significant rally in Kin token’s price action within 7 days time frame.
It remains unclear if XRP will return back to its all time high prices achieved during 2017/2018 crypto bull run or not; however according to Cheecky Crypto’s analysis it seems like we will witness huge upside once outcome of this case is revealed soon so investors must keep their eyes open for any new developments about it!