David Schwartz: Does Ripple CTO Cryptic Tweet Suggest XRP Could Reach $5 After SEC Case? 

  Key Takeaways

• Ripple CTO David Schwartz’s cryptic tweet prompted speculation about XRP’s potential to reach $5 post-SEC case.
• Ripple-SEC legal battle extends, with uncertainty looming until at least May 2024.
• XRP price predictions vary, with $1 being the next significant milestone.

David Schwartz, the Chief Technology Officer of Ripple and XRP Ledger co-creator, recently took to X to post a cryptic message. His tweet, containing what seems to be a mathematical equation resulting in five, prompted speculation regarding the future valuation of XRP. Is the XRP price ready for an uptrend after the protracted legal battle with the United States Securities and Exchange Commission (SEC)?

XRP Price After Ripple-SEC Lawsuit

The message shared by Ripple CTO appears to be a mathematical equation. Some users suggest that “5!” refers to the mathematical notation for the factorial of five while others speculated its context to Ripple’s price.

A definitive conclusion about the intended meaning behind the post is hard to decipher with the CTO’s explanation. CCN has reached out to him on X for clarification and will update the story based on the response. 

Meanwhile, the ongoing legal battle between Ripple Labs and the SEC has reached a new chapter with the submission of a joint sealing proposal. The dates state that the lawsuit will prolong the litigation until at least May 2024.

And investors are interested to know the trajectory of XRP’s value in the second half of this year.

XRP Price Predictions

The XRP price has experienced fluctuations, with the crypto attaining an all-time high of $3.40 in January 2018. However, it dipped below $0.50 following reports of a security breach affecting co-founder Chris Larsen’s XRP wallet this year.  

Meanwhile, the forecast of $5 for XRP appears to be quite an ambitious one at the time of writing. The next potential milestone for the crypto is $1.

According to crypto analyst Dark Defender, XRP could potentially hit $1 by April. The analyst adjusted targets based on XRP’s recent high of $0.75, identifying Fibonacci levels and suggesting potential price ranges in the short term. Dark Defender also mentions a successful support level at $0.58. They, meanwhile, characterize XRP’s current position as a “SPRingBoard,” signaling potential upward movement.

In the derivatives market, the long/short ratio over the past 24 hours stands at 0.9384 , indicating a slightly higher preference for long positions among traders.

Meanwhile, a favorable regulatory outcome can further change things for the positive. For instance, Federal Judge Analisa Torres’ last ruling which noted that XRP sales on secondary markets did not constitute securities sales, resulted in a surge in XRP’s price.

XRP Awaits Next Favorable Ruling

David Schwartz’s cryptic tweet has ignited discussions regarding the potential trajectory of XRP’s price. Against the backdrop of Ripple’s ongoing legal battle with the SEC, the community is quite bullish after Judge Torres’ last favorable ruling in 2023.

But XRP is navigating through uncertainties and the next best price milestone to watch out for is $1.

About the Author

Shraddha Sharma

Shraddha has around five years of experience as a financial journalist, focusing largely on the Asian markets. Starting her career in Mumbai, India, as a news trainee and producer, she quickly found her niche in crypto. She is keen on learning how emerging technologies affect the broader markets and enjoys explaining complex financial ideas in a way that's easy to understand.

See more

[email protected]