The bullish momentum around XRP (CRYPTO: XRP) continues to grow after a series of recent legal wins against the Securities and Exchange Commission. The multi-year court case against Ripple (the company behind the XRP token) that started in 2020 looks like it is finally nearing completion, and crypto investors are becoming increasingly optimistic that XRP could skyrocket in price soon.
In fact, some crypto investors are convinced that doubling or even tripling in price seems to be within reach for XRP. After all, this summer XRP briefly doubled in price, from $0.47 to $0.95, after the first of its big legal wins. While XRP later gave back all of those gains, the crypto has undeniably explosive upside potential. So should you be buying XRP now?
To answer that question, it's important to dig into the latest news on the XRP litigation front. In mid-October, the SEC announced that it was dropping charges against Ripple Chief Executive Officer Brad Garlinghouse and Executive Chairman Chris Larsen for selling XRP tokens as unregistered securities. The move, as might be expected, was seen as a huge legal win, and XRP promptly registered its biggest single-day gain in nearly three months.
Source Fool.com