XRP, Ripple’s native utility token, has been stuck under $0.25 for a number of months now, as traders wait for bullish news to arrive. But what would happen to XRP price if the US court recognized the asset as a commodity and put an end to the ongoing lawsuit?
Wild Predictions Call XRP to Break Above $500
XRP has fought for acceptance and is viewed as a wildcard in the world of crypto, possibly bouncing off its current lows. But one of the problems is the status of the actual asset. Now, the discussion on whether the asset is a commodity or not, is returning.
The status of XRP is still open to discussion, but the potential to pronounce it a commodity arrives after the Commodities Futures Trading Commission appointed the status to Ethereum (ETH). Some proponents of Ripple’s case see XRP explode to an extraordinary price of $589 if it’s assigned commodity status, although no supporting evidence has been provided to back up the crazy prediction.
If #XRP will be classified as a commodity then the price will hit $589+ in minutes!…