The well-established cryptocurrency Ripple (XRP) made a rapid entry into the last month of the year. The entry of Bitcoin (BTC) and Ethereum (ETH) into the week with green charts created the expectation of a new altcoin rally in the market. Some cryptocurrency analysts claim that the new rally will start this year, while others believe that the new rally will start in the first quarter of 2022.
Ripple, which could not adequately accompany the bull seasons affecting the market in 2021, has important factors for the next rally. The company, which will launch the Liquidity Hub project next year, also hopes that the US Securities and Exchange Commission (SEC) case will be settled in its favor.
What is the next Ripple price target in 2022?
In order to start a new XRP price rally in 2022, Ripple has recently announced plans to launch a Liquidity Hub next year.
#ICYMI: We announced plans to launch our Liquidity Hub in 2022 to help financial services firms offer their customers the ability to buy and sell #cryptocurrencies. @CNBC shares the details here: https://t.co/nnhknAcJNB— Ripple (@Ripple) November 29, 2021
In the project, according to the announcement, all companies will be able to receive payments with some cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash (BCH) using the XRP Ledger infrastructure.
If the project becomes widespread, companies that plan to accept cryptocurrencies will have an alternative to exit the blockchain industry alongside MasterCard and Visa. The Ripple company said that the project will also serve financial institutions that want to buy and sell cryptocurrencies.
Working with many official companies around the world, Ripple also provides infrastructure for some payment blocks of MasterCard and Visa.
Especially in the USA, many financial companies are waiting for the regulations to be completed. Almost all ETF companies have already filed with the SEC for Bitcoin and Ethereum ETFs. Institutional companies are waiting for the market to get approval from governments and move away from the risk zone to make a mass entry into the cryptocurrency market.
When will the SEC vs. Ripple litigation end?
Another second factor that will boost the XRP price rally in 2022 is to win the SEC lawsuit. The lawsuit, which started in December 2020, has not been settled even though a year has passed. However, it can be said that much progress has been made in the case so far.
Although the court heard both parties and their witnesses, requests from SEC lawyers are prolonging the case. Lawyer John E. Deaton, who specializes in blockchain, thinks the SEC will lose this case. Deaton claims that XRP investors have no idea about the Ripple company and its promises and that it is not possible for XRP to be considered a security.
Ripple CEO Brad Garlinghouse made statements about the SEC case, stating that he expects the case to be completed in 2022. Referring to the comments of SEC Chairman Gary Gensler about Ethereum, the CEO thinks that XRP is not a security:
“Over the past few years, Ripple (XRP) has been the second most valuable digital asset. However, they have always put obstacles in front of XRP. Considering that the SEC has given access to ETH, ETH has clearly exploded. The market should determine the winners and losers, not the regulators. There are questions that Jay Clayton didn't answer about XRP 2 years ago. Recently, Gensler was asked if Ethereum is a security, but he did not answer. It is clear that the rules are still not clear and unambiguous.”
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