The post What Would XRP Price Hitting $35 Mean for Ripple’s Unregistered $750M Sale? John Deaton Weighs in appeared first on Coinpedia Fintech News
XRP is causing quite a stir as its price surged fueled by a favorable SEC lawsuit ruling. Market experts and influencers are making bold predictions, with some foreseeing the XRP price reaching an astonishing $35. One such forecast comes from Ben “BitBoy” Armstrong, envisioning a potential rally to $15 within 18 months, with the possibility of skyrocketing even further to $35, equating to an extraordinary 4,925% increase in XRP’s value.
What Happens If XRP Price Hits $35?
Amidst these exciting predictions, Attorney John Deaton has offered a thought-provoking perspective on the implications of XRP hitting the $35 mark. He draws attention to the repercussions of such a surge on Ripple’s vast XRP holdings. At present, the company retains 41 billion XRP, which is worth around $28.5 billion at the current rates. However, if XRP were to reach $35 per token, the value of Ripple’s holdings would skyrocket to a monumental $1.43 trillion.
Ripple’s 50 billion XRP X $35 not concerned with $750M in unregistered sales of XRP.Not saying it will happen,Just making an observation if it did. https://t.co/tgNBgoHpOq
— John E Deaton (@JohnEDeaton1) July 22, 2023
The significance of this valuation lies in the past legal battles Ripple faced over unregistered securities sales. Judge Analisa Torres had previously ruled that Ripple’s institutional sales of XRP were unregistered security offerings and subject to penalties, resulting in a hefty $750 million fine. However, Deaton argues that with a hypothetical $35 XRP price, this fine would become trivial in the grander financial landscape.
Deaton emphasizes that he isn’t asserting that XRP will definitely reach $35, but rather highlighting the potential ramifications of such a scenario. The sheer scale of Ripple’s potential valuation at this price level would position the company in a financial standing far beyond the impact of any regulatory fine.
