The cryptocurrency community is abuzz with anticipation surrounding the potential trajectory of XRP, fueled by predictions from tech founder Vincent Van Code regarding a significant price surge in August.
The predictions assume the Securities and Exchange Commission (SEC) might dismiss its appeal against Ripple Labs. Moreover, growing speculation regarding the imminent dismissal of this appeal in the coming month has further intensified market interest.
Vincent Van Code Predicts XRP Rally in Mid-August
In a recent X post, Van Code predicted that XRP will likely climb substantially in mid-August if the SEC dismisses its appeal.
“XRP price will no doubt go up mid mid-August if SEC formally files appeal dismissal. Then, potentially we see 100s of existing 1,700 NDA companies coming out,” he said.
He argued that such a move would unlock a plethora of partnerships currently veiled under approximately 1,700 non-disclosure agreements (NDAs). Additionally, the implication is that numerous entities are waiting on the sidelines, hesitant to associate with XRP until the regulatory cloud dissipates publicly.
Notably, in June, Ripple and the SEC together asked the court to pause the appeals until August 15th. Many in the XRP group see this date as a possible end date for the long legal fight. But a former SEC lawyer, Marc Fagel, gave a more careful opinion. He said August 15th is not a set date to finish a settlement. It is just the day both sides have to tell the court how the appeal is going.
Furthermore, Van Code also noted that initiatives such as getting ETFs approved and big fund companies joining the XRP system could help push the price up even more. Ripple’s new deal with BNY Mellon to hold RLUSD money shows this. It proves that when more big companies use XRP, it can help it grow.
Community Reaction
In response to Van Code’s post, an X user suggested that the prolonged legal proceedings were a calculated maneuver to suppress the XRP price, ostensibly in anticipation of the White House crypto report, while simultaneously holding Ripple accountable for a substantial fine.
However, Van Code countered this assertion, explaining that Ripple had already deposited the penalty amount into an escrow account. They will release it when both parties mutually withdraw their appeals.
Right now, XRP’s price is moving sideways after recently reaching an all-time high. But charts show that if the SEC stops its appeal in August and approves the planned XRP ETFs, the token will experience rapid growth.
Adding to the cautious sentiment, Australian lawyer Bill Morgan, a keen observer of the case, emphasized that the SEC is not legally mandated to withdraw its appeal by August 15th.
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