Will XRP Pump to $1 in June 2023 as the SEC Lawsuit Comes to an End?

XRP Pump to US$1 in June 2023 as the SEC lawsuit comes to an end due to the lawsuits

The XRP price increased when Ripple CEO indicated that the dispute will be resolved "in weeks, not months."  With the lawsuit reaching its conclusion, many traders expect XRP to reach US$1 in the next months, but will it be able to accomplish so if the rest of the market stays stagnant?

Following the statement by the Ripple CEO, the XRP price rose 10%, correcting a local downturn.

In late 2020, the SEC filed a lawsuit against Ripple, alleging that it marketed unregulated securities in the form of XRP coins. The case is continuing and is the longest-running in crypto.

However, the decision appears to be all but settled, with the outcome poised to benefit Ripple. With this in mind, many investors anticipate a surge in the XRP price in June as the decision approaches.

In a YouTube video, Crypto Geek recently disclosed the possible bullishness for XRP, bringing to light another crucial component underlying the XRP story. The video speculated on XRP buybacks from high-profile stakeholders in the XRP ecosystem.

The YouTuber claimed that major entities such as the US Federal Reserve and international governments are interested in XRP and may utilize it as a bridge currency for their central bank digital currencies (CBDCs).

It remains to be seen if governments will accept XRP. However, with the SEC case concluded and the narrative of governments and banks adopting cryptocurrency heating up, the price might be ready to rise in June.

According to the chart below, XRP is now creating an upward wedge.

When an ascending wedge follows a downtrend, it may indicate that the price will continue to fall. However, in this situation, the optimistic news about XRP might indicate that the coin is about to set a new high, with its price rising towards US$1 if it breaks over the US$0.54 obstacle.

While it would make sense for XRP to reject this level, we may witness a departure where it breaches the level, hitting US$1 before returning to the range.

When an ascending wedge follows a downtrend, it may indicate that the price will continue to fall. However, in this situation, the optimistic news about XRP might indicate that the coin is about to set a new high, with its price rising towards US$1 if it breaks over the US$0.54 obstacle.

While it would make sense for XRP to reject this level, we may witness a departure where it breaches the level, hitting US$1 before returning to the range.

The project intends to be the first "Recycle2Earn" cryptocurrency, allowing users to adopt sustainable lifestyle choices while being compensated for them.

Ecoterra has so far worked with several household name companies, including Dr. Pepper and Heineken, to ensure that consumers may recycle their goods in Ecoterra’s "Reverse Vending Machines" (RVMs).

The initiative has already formed alliances with supermarkets, where they will install RVMs and where ecoterra users may recycle their unwanted items. The popular presale initiative, however, does not end there.

The ecoterra platform will also offer recycled goods and carbon credit marketplaces for business-to-business customers. Furthermore, the initiative will provide an effect tracker profile so that businesses can demonstrate that they are operating ethically and with concern for the environment.

Overall, ecoterra uses blockchain's immutability, transparency, and verifiability, as well as the novel "revenue share model," to benefit the whole circular economy.

Given that climate change concerns are getting more widespread by the year, YouTuber Jacob Bury recently examined the coin and concluded that it has a 10X potential following its presale.

Currently, investors may acquire the ecoterra for US$0.0085. The supply, however, is restricted, and the IEO price after the presale is fixed at US$0.01.