Ripple Price Prediction and Analysis: XRP to be listed on DX.Exchange. Lawsuits and struggle with securities. Saturday, June 9
Important Ripple News
XRP to be listed on DX.Exchange
Recently, in order to increase its liquidity, XRP has been listed on Revolut, SBI Virtual and ZebPay. Now, with the upcoming launch of DX.Exchange, powered by NASDAQ, it has been announced that thanks to the voting on an online poll, Ripple will be available when the exchange launches. It's main features are that DX.Exchange will ride on the respected NASDAQ matching technology. It will utilize the FX platform tools that will make it easy to monitor and report on XRP real time performance and trends.
Ripple ongoing battle with lawsuits
For many months now the Ripple company tried to separate from XRP token and were trying to prove that it's not a security. Investor Vladi Zakinov has filed recently a lawsuit against Ripple Labs, XRP II, CEO and 25 anonymous people. He says: "XRP, despite its name as a 'token,' is actually a security under California law. In particular: (i) Ripple uses the funds it raised from the sale of XRP to fund its business ventures; (ii) the Company indiscriminately offers XRP for sale to the public at large; (iii) plaintiff and the Class (as defined herein) are effectively powerless to control the success of Ripple and XRP; and (iv) plaintiff and the Class members' investment is substantially at risk and is without nay security."
The main problem is that in his belief, Ripple should have registered XRP during the offering and selling phase. Moreover, he states that the company "made a series of improper statements which drove up the price of XRP", therefore leading to Ripple getting increased profits, while he as an investor after all lost money. Company's spokesperson said: "This is just another example of an extortionist bringing forth an opportunistic suit that lacks merit. We feel confident that the claims regarding XRP are completely unfounded both in law and fact."
XRP Price Analysis
XRP Price this week has remained rather stable and without any significant price drops, as it managed to stay above $0.6 mark. We can see a slight upwards trend, as on June 2nd, XRP was worth $0.62, while on June 9th it's worth almost $0.68. The most notable spike took place on June 4th, when the token got from $0.65 to $0.7 in a matter of hours. It then corrected back to the $0.65 region and continued its way up.
XRP/USD Price Chart, Saturday June 9th:
At the beginning of May XRP was worth around $0.85 range and this can be a confident target in next weeks, depending on the project development as well as Bitcoin's movement and cryptocurrency market volume. The All Time Highs of XRP token almost reached $4, therefore it's also a price safe to anticipate. There are experts that believe in the ranges above $10, while long term predictions even suggest $300. However, Ripple token doesn't seem to be designed for such high prices and it most likely won't exceed $100, or at least at the current stage and plans and use cases for this coin.
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