Here Are the Top Reasons Why Whales Are Stacking XRP
The bitcoin market is showing signs of profitability in 2023. For the first time in the past year, the total value of the cryptocurrency market has surpassed $1 trillion. Many people are speculating about the potential implications of the outcome of the legal dispute between Ripple and the SEC for the future of XRP and the broader crypto industry.
The 24-hour trading volume for XRP is currently over $1 billion, which is still quite massive. It was significantly below $1 billion at the beginning of January, occasionally falling as low as $400 million.
According to the data, the price of XRP has increased by a staggering 21% over the past 30 days. The price of other significant cryptocurrencies like Cardano (ADA) and Polygon (MATIC) increased by 50% and 53%, respectively, within the same timeframe, thus the traders were unimpressed by this boom.
Ripple released its Q4 2022 XRP Markets Report this week. It showed that demand for its On-Demand Liquidity (ODL) offering is still strong as the company generated net XRP sales of $226.31 million in just that one quarter. Such developments are particularly outstanding considering that Ripple is still involved in a public legal battle with the SEC.
According to a recent tweet by WhaleStats, among the top 100 BSC whales, Ripple (XRP) is now one of the ten most traded cryptocurrencies. XRP has also made it onto the list of the top 10 tokens bought in the previous 24 hours by the biggest BSC whales. The top 100 BSC whales are currently holding XRP worth $29.23 million, or 2.53% of their entire holdings, according to data.
On the flip side…
XRP is the top loser among the top 10 cryptocurrencies based on its performance over the previous 90 days. The price of XRP fell sharply by 17% throughout the aforementioned time. On the other hand, over the last 90 days, the price of bitcoin has increased by almost 10%.
John Deaton Rejects XRP Buyback Plan – Find Out Why!
A renowned attorney, John E. Deaton, has taken to Twitter to clarify his stance on Jimmy Vallee’s XRP buyback proposal. The proposed terms of the XRP buyback mentioned making a payment to the attorney for his role in the US Securities and Exchange Commission (SEC) case against Ripple; however, Deaton asserts that he has no involvement with the proposal and will not accept any compensation for his efforts.
What Deaton Says
In the Twitter thread, Deaton stated that he has not and will not ask for money for his work on behalf of XRP or LBRY Credits (LBC) holders and will continue declining compensation offers. He admitted that his efforts have come at a cost but asserts that he is covering the costs himself because it is the right thing to do.
Jimmy Vallee of Valhill Capital 2021 put forward the XRP buyback proposal. Vallee believes that XRP has the potential to become the reserve currency of the world as national debts reach unsustainable levels.
He posits that the world will have to move to a new financial system with a liquid and scalable digital asset backing it and that XRP is this asset. Vallee places the fixed buyback rate for XRP between $37,500 and $50,000 per token, based on the global wealth and XRP’s 100 billion token supply.
It is worth noting that this theory remains entirely speculative and discussions surrounding it have picked up again following a recent Vallee interview. According to an XRP influencer, Crypto Eri, Vallee, and a “confidential committee” were working on the proposal, and if they managed to broker the deal, they would receive a share of $100,000,000.
Deaton has made it clear that he is not involved with the XRP buyback proposal and will not accept any compensation for his efforts. The proposal remains speculative, and its validity remains to be seen.
XRP Price Set to Soar: Analyst Reveals When And How XRP Will Break the $1 Barrier
Ripple’s XRP followed the larger crypto market in the red this morning after a positive Friday session. As there were no new developments in the SEC v. Ripple case to offer guidance, XRP was left in the hands of the broader crypto market.
According to expert Egrag Crypto, XRP might soar to a high of $1.4 if it successfully reverses the current downturn in which the asset has been trapped since May 2021. In its current 21-month slump, XRP has developed a falling wedge pattern (This pattern is a bullish reversal pattern).
The analyst outlined two potential outcomes for the asset at its current price: a drop to $0.22 if the downtrend is maintained, and an increase to $1.4 once the trend reversal takes hold. The last time the price of XRP reached $1.4 was in May 2021.
When the price of an asset is heading downward but the price swings start getting smaller and smaller as they go down the slope, producing a wedge shape, a falling wedge pattern develops. This pattern, which implies that the buyers are taking control and the selling pressure is waning, is regarded as positive since it may portend an increase in price.
Egrag predicts that as XRP begins to see a trend reversal, the price of $1.4 would come into play. He did, however, mention that a crucial resistance level for the asset’s price movement would be the Fibonacci point at $0.786. Notably, XRP’s bullish run to $1.4 becomes significantly more possible if it can overcome the resistance at this level.
Since yesterday’s low of $0.4013, the price of XRP has been rising steadily for the past few days, and it is currently trading at $0.4150. The price has been able to climb above the crucial $0.4126 resistance level thanks to the bulls, and a good close above this level is likely to confirm that the current trend is up.
Craig Wright and David Schwartz Have a Public Altercation Over XRP
Craig Wright, the purported creator of Bitcoin, and David “JoelKatz” Schwartz, the CTO of Ripple, engaged in a furious altercation on Twitter. Wright’s tweet claiming XRP to be a fraud set off the argument.
What Happened
On the other hand, David Schwartz responded to the ridiculous assertion in his usual snarky manner. Craig Wright said in a post on Twitter that if someone ever mentions the CTO of Ripple, they should refer to him by his real name, which is “conman Davie.” He called Schwartz the Madoff of shitcoins.
“Dave is a conman. XRP is a complete scam,” says Wright confidently. Schwartz replied, “It’s funny how you feel the need to attack me when, and only when, you are being criticized for your own indefensible actions.”
In a related development, Craig Wright may sue Bitcoin developers in court to force them to hand up cryptocurrency and change the code. Wright has filed a lawsuit against 15 developers in an effort to recover 111,000 bitcoins with a value of $2.5 billion.
Wright apparently lost the keys to his cryptocurrency wallets many years ago after becoming the victim of a cyberattack. Even though this lawsuit was first rejected last year, the U.K. Court of Appeal declared today that developers might have responsibilities to blockchain owners.
If Wright is successful in his lawsuit, the software developers might be compelled to produce new software that will assist Tulip Trading in recouping the entire amount of money it owes.
As for XRP, the token now has a value of $0.42 and is representing an on-chain signal that is mostly neutral. Getting back to it, this is not the first time Schwartz and Wright publicly argued about XRP. Wright has made it a habit to aggressively criticize XRP, the products created from it, and its creators. And Schwartz always claps back at him.
Ripple Close to a Victory Against SEC-Will XRP Price React or Remain Unstirred?
As the climax of the Ripple vs SEC lawsuit is looming around, the XRPArmy is expected to a massive green candle to occur in the daily XRP chart. However, considering the current trade set-up, it appears that the top crypto is preparing to undergo a bearish divergence as an outcome of rejection from the crucial levels during the coming weekend.
The lawsuit is speculated to have been approaching its end and the XRP price is currently under the huge influence of the bears. The price has reached the lower support of the curial price zone and may display an inverse action any moment from now. Moreover, the volatility appears to have slowly slashed and hence the price may experience a notable compressed pressure in the coming days.
The XRP price currently is on the verge to face a notable rejection from the crucial price zone and continue its journey within the descending triangle. The rejection may eventually result in the price slashing close to the lower support below $0.35 which may further trigger a notable rebound. In the meantime, the Ripple vs SEC lawsuit judgment which is expected to roll out in the next couple of months may bring back the value to its initial position above $0.4.
On the contrary, if the bulls are able to mitigate the compression that is materializing in the daily chart, then a positive outcome may uplift the price beyond $0.45. As the price is about to test the 20-day SMA which is the middle range of the Bollinger Bands, a rebound could be sparked. However, failing to hold these levels may invite a downswing which appears unlikely considering the present trade setup. Therefore, the upcoming weekend could be extremely crucial that may determine the upcoming trend.
Ripple Vs SEC Update: Latest Hearing Offers Hope, XRP Gains Upper Hand
Eleanor Terrett, a Fox Business correspondent, has stated that if the judge rules that secondary market transactions of LBC by people unaffiliated with or without investment intent in LBRY are legal, it may set a precedent that is favorable to XRP users.
After this update, it appears as if the scales have shifted in favor of Ripple in the Ripple vs XRP lawsuit. There is a new update on this lawsuit and things are not looking good for the SEC.
Does Ripple have an advantage over the SEC?
Attorney John Deaton stated that US SEC lawyers and staff have been discussing the tokens as securities. While Bitcoin (BTC) was previously packaged, marketed, offered, and sold as an investment contract.
This, however, is referred to as Security. It is crucial to remember that just because someone used BTC as a security doesn’t mean that Bitcoin itself has become a security. According to the attorney, the logic remains the same in the XRP lawsuit.
The primary distinction between security and utility tokens is the purpose for which they are issued. If the coins were issued primarily to raise funds for something, they are security tokens. And it makes no difference whether tokens can be used to pay for goods and services on the platform.
Is the Judge likely to Rule in Favor of Ripple?
If the Judge believed that the token itself was a security, the statement would include subsequent sales of the token, according to the attorney. The Judge, however, stated that his decision does not apply to any subsequent sale of LBC tokens.
This turns out to be the most important reason why the Court’s clarification was desperately needed by crypto holders. However, a promoter’s direct sales of a token can still result in a commission. Meanwhile, in an investment contract case, the underlying asset is never the security.
The recent development, according to Amicus Curiae in the XRP lawsuit, gives him confidence that the Judge will deny the SEC’s Summary Judgment motion.
The Final Ruling is Near
For the longest time now, it appears like Ripple has had an upper hand in this lawsuit. The case is now in its concluding stage and its outcome would be very crucial for the entire crypto community. Ripple is working to make sure that, as of a certain date, or at least in the future, none of the XRP sales will be considered securities.
Ripple Escrows 600 Million XRP Tokens Worth $246.6M: WhaleAlert
The US Securities and Exchange Commission is suing Ripple Labs, the company behind the cryptocurrency XRP (SEC). According to the SEC, Ripple Labs raised billions of dollars in an unregistered securities offering, and XRP is a security.
Ripple Labs is fighting the lawsuit in court and has denied the allegations. The outcome of the case could have far-reaching consequences for the crypto community and as a result, it is much anticipated.
Meanwhile, news has cropped up about the Ripple management of the XRP token.
Whale alert on locked-up XRP
Whale Alert is one of the largest and fastest-growing crypto communities. They provide real-time transaction data. In a recent whale alert, it was reported that 500,000,000 XRP worth 200,168,995 USD was locked in escrow at Ripple Escrow wallet.
The term “in escrow” in financial transactions refers to a temporary state of an item, such as money or property, that has been transferred to a third party. This is typically done on behalf of a buyer and seller. “In escrow” refers to a type of legal holding account for items that cannot be released until certain conditions are met. Items are typically held in escrow until the process involving a financial transaction is completed.
1 Billion tokens were unlocked at the beginning of the year
On the first day of the year, exactly 1 billion XRP tokens were unlocked from escrow accounts. Previously, XRP was unlocked directly from Ripple escrows; this time, according to Whale Alert, it occurred in unknown accounts.
Large amounts of XRP tokens were also transferred by cryptocurrency whales before and after Ripple locked XRP in escrow. Ripple, interestingly, was involved in the most recent round of XRP movements. An anonymous whale transferred to Ripple 300 million XRP tokens worth $119.48 million. Notably, the transaction took place an hour before Whale Alert revealed the details of the 600 million XRP tokens held in escrow by Ripple.
Ripple aims to bring predictability to the XRP offering when the token is directly used by the company in its transactions by unlocking XRP from its escrows each month. While such accounts initially held 55% of the 100 billion XRP supply, that figure has now dropped to 42.7%.
To conclude,
With so many XRP movements being reported, it is possible that something significant is in the works for the token.
Ripple Vs SEC: Ripple’s Legal Lawyer Unveils Strong Evidence in Support of XRP
The ongoing legal dispute between Ripple and the Securities and Exchange Commission is being closely watched by the cryptocurrency community. The future of Ripple and its XRP token is still up in the air following the filing of the respective summary briefings by the two parties.
The cryptocurrency community has been observing another nearly related case to predict what would happen to XRP before the summary decision. Possible resolutions in the Ripple case have been provided by the dispute between the SEC and the blockchain-based sharing platform LBRY in particular.
Interestingly, LBC’s value increased as a result of the most recent ruling. Bill Morgan, an attorney, and observer of the cryptocurrency market said that if the SEC loses the case, XRP could follow the same price trajectory.
In a series of tweets, Morgan also noted one finding from his assessment of Ripple’s response to the SEC’s Daubert challenge: the organization’s inconsistencies, or “typical change of position.” He provides examples and said that the first expert opinion on the viability of Ripple’s cross-border remittance product alleged that ODL was not a legitimate use case for XRP and questioned the company’s usage of the technology.
He wrote in one of the tweets, “The SEC argued that because despite other regulatory treatment it was not impossible (like any asset) for XRP to be sold as a security the expert evidence was irrelevant. Ripple’s response included pointing out that even the GAAP.”
Jeremy Hogan, a fellow legal expert, pondered what might happen to XRP at the same time in light of the fact that LBC’s value increased by about 100% in just one week despite the parent company’s lack of a complete victory in the litigation. Legal experts are still guessing on the likely verdict and its effect on the cryptocurrency market because the ruling is yet to be made.
Unlock Exponential Portfolio Growth in 2023 with Chainlink (LINK), Ripple (XRP), and BudBlockz (BLUNT)
The industry is filled with numerous portfolio-boosting opportunities for investors. Analysts have said 2023 will bring amazing goodies for the entire ecosystem. With amazing launches, presales, and incredible price increases, great things can be expected from the crypto industry this year.
2023 has also brought with it the keys to unlocking exponential portfolio growth. Investors seeking to boost and grow their portfolios will also need to diversify them. The market may not always be favourable, but with the right combination of cryptos in your portfolio, it is possible to make profits even in a plunging market.
Some of the tokens that can help investors’ portfolios attain exponential growth are decentralized, and each possesses unique qualities. These tokens are Chainlink (LINK), Ripple (XRP), and the alluring BudBlockz (BLUNT). Investors that seek to boost their portfolios need these tokens.
Get right into this article to see how these tokens can unlock exponential portfolio growth in 2023.
BudBlockz (BLUNT) Is The Key To Unlock Portfolio Success In 2023
BudBlockz (BLUNT) is a relatively new project with vast potential for success. This token possesses an incredibly alluring utility as it tackles the cannabis industry. Cannabis is an industry that economies tend to shy away from because it is considered unconventional and somewhat controversial. However, BudBlockz is a platform strong enough to support this industry.
The cannabis industry struggles with numerous challenges that stunt its growth. But, thanks to BudBlockz, things are about to start looking up for the industry. BudBlockz is determined to solve all of the industry’s problems as it collaborates with its token, BLUNT, to bring relief to the industry.
BudBlockz’s functional and utility token, known as BLUNT, powers and fuels the network. On the platform, this token enables cannabis trade, token trade, and NFT purchases. This token is backed by so much utility that it could boom. In its presale stage, investors seeking to grow and explode their portfolios in 2023 need to buy this token at a discount now.
Chainlink’s (LINK) Interoperable Blockchain Makes It Essential For Portfolio Growth
Chainlink (LINK) is a token designed to operate on a decentralized network. Chainlink achieves interoperability by connecting data and information from external blockchains to on-chain smart contracts. It readily achieves this by using and developing DeFi.
LINK is the blockchain’s governing token that powers its transactions. Also, this token is a top choice for investments, mainly because its interoperability is highly beneficial to portfolios. Experience exponential growth by investing in Chainlink.
Ripple (XRP) Has A Universal Protocol For Portfolio Boost
Ripple (XRP) is a decentralized blockchain-based digital payment network that improves the crypto experience. The Ripple network operates an open-source, peer-to-peer, decentralized protocol. This protocol allows the seamless transfer of money in any form or currency, excluding crypto.
The utility token for this global payment network is known as XRP. This token offers awesome services to major banks and financial institutions around the globe. Its universal nature makes it a unique token that can quicken portfolio growth.
Investors seeking to grow their portfolios in 2023 need to seize each of these tokens’ opportunities. These three tokens, particularly BudBlockz, stand out with their amazing utilities. BudBlockz can boost investors’ portfolios in no time, as it offers a unique marketplace for fractional ownership.
Relist XRP on Coinbase Trends: What’s The Future of XRP After Being Declared Not a Security
Ripple vs SEC lawsuit has become more fascinating after the latest hearing of the LBRY vs SEC lawsuit on January 30. During the hearing, the Judge made it clear that digital assets traded in the secondary markets are not securities. With the judgment, the sentiments for the Ripple vs SEC case have been coiling up with an expectation of a similar judgment to be produced soon.
A couple of years before, when SEC framed charges against Ripple on charges of illegal sale of XRP, all the US-based exchanges had delisted. Meanwhile, this did not impact the XRP price to rise but the adoption remained restricted. However, the company stood strong fighting all the allegations and bringing the case close to its closure.
Furthermore, now that LBRY and XRP are not considered securities, there is a strong push to relist the XRP token.
It has to be noted that, Coinbase was never forced to delist XRP, but it choose to delist on there own out of fear of the SEC. Now that Coinbase shareholders & investors deserve to trade XRP, it’s time for the platform to make a stand. Moreover, US traders are also deprived of the recent Flare token airdrop.
Coinbase exchange has been one of the most popular crypto exchanges of all time and a positive step towards relisting XRP may not only uplift the token’s price but the entire crypto space.
Ripple Defies SEC With XRP Sales, Reports $226.31 Mn In Q4 2022
Ripple Labs continued with its programmatic XRP monthly sales during the fourth quarter of 2022 despite the ongoing case against the SEC. According to the company’s 2022 Q4 report, they received 3 billion XRPs from the escrow account but returned 2.1 billion units to the escrow contracts.
As such, the company reported the total XRP sales, net of purchases, which were about $226.31 million compared to $310.68 million in the previous quarter.
Notably, the blockchain payment company is facing legal action from the SEC for selling billions of XRP to the secondary market to fund its projects. Perhaps the honorable thing Brad Garlinghouse would do is to return the XRP from the escrow account until the lawsuit is over.
Furthermore, programmatic sales have suppressed XRP prices for years despite the increase in global demand. Nonetheless, the company has made meaningful progress in developing the XRPL including enabling NFTs, and the stablecoin minting procedure.
Ripple (XRP) Market Outlook
During the fourth quarter of 2022, Ripple announced the expansion of the On-Demand Liquidity (ODL) to France, Sweden, and Africa. As such, the company’s crypto-enabled cross-border payments solution is available in nearly 40 payout markets.
At the end of last year, Ripple announced that Peersyst released the first phase of the Ethereum Virtual Machine (EVM) sidechain for the XRP Ledger (XRPL) on Devnet, which allows DeFi applications like Uniswap, Aave, and Compound to easily launch on the XRPL.
Forward, the company anticipates the United States lawmakers to focus on stablecoin regulations following the collapse of Terra Luna’s UST and FTX.
Notably, the company has significantly invested in the CBDC and stablecoins market with several clients at hand including the Royal Monetary Authority (RMA) of Bhutan and the Republic of Palau.
Ripple vs SEC-Final Countdown Begins, Will Exchanges Relist XRP or Will Price Miss Another Bull Run?
XRP appears to be largely unaffected by the ongoing bearish market sentiments as the prices continue to hold the crucial $0.39 levels. The positive market sentiments are slowly coiling up for the crypto as the latest hearing of the LBRY vs SEC lawsuit has planted fresh hopes of victory.
As previously mentioned by Coinpedia, January 30-LBRY’s hearing was extremely crucial for the Ripple vs SEC case. John Deaton, the XRP army representative in court placed a strong argument due to which LBC tokens were declared ‘not security’ by the judge. The repercussions of this case are expected to display in the Ripple vs SEC case which is expected to find its closure soon.
With the positive outcomes of the lawsuit emerging, the XRP price gained significant bullish momentum, The weekly chart of the XRP is painted in green, while the resistance is closer to the support. Once the price strikes the resistance, a bullish trend may begin in form of Wave 3.
A popular analyst anonymously called ‘Dark Defender’ referring to the above chart says that the XRP price with the current rebound has begun its journey in Wave C. Therefore, continuing within the same trend may result in the price slicing through $0.4 levels and marking highs around $0.42. He does, however, include a bearish clause and warns that in the event of a rejection, the price must hold the $0.3762 and $0.3602 levels.
“Hi there, XRP started & touched $0.38593 with Wave C. We are tried $0.42 & couldn’t break.
RSI in 4H says we are in the oversold area; however, let’s keep an eye on both $0.3762 & $0.3602.
We’ll welcome Wave 3 in days. Cheers!”
Therefore, the crypto markets, specifically the XRP price appears to have been surrounded by positive market sentiments and hence a significant upswing could be imminent.
SEC To Declare XRP As A Token ?
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The SEC claimed LBC as a token in its latest hearing
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This remarkable win against SEC will impact Ripple vs SEC lawsuit
The Ripple vs Securities and Exchange Commission (SEC) lawsuit is one of the long running cases. The lawsuit against XRP began in December 2020. Now, the crypto community is eagerly awaiting the results as the lawsuit is very close to the conclusion. To add on to this Ripple vs SEC case, John Deaton who is closely following the case had claimed that the hearing in the LBRY case will play an important role for the crypto market.
The lawsuit against LBRY by SEC had its last hearing on January 30, 2022 where the Judge concluded that LBC secondary market transactions are not security. Here, John Deaton, who is also a founder of Crypto Law played an important role during the hearing.
LBRY Case To Influence Ripple vs SEC Case
After referring to an article written by commercial contract lawyer Lewis Cohen, Deaton argued that as per the article there is no mention of LBC as a security. This gave rise to discussion in the court after which the judge stated that he cannot stop LBRY users to trade LBC as it’s not a security. This statement will now act in favor of other crypto-related cases like Ripple vs SEC.
John Deaton gained appreciation for his commendable action where SEC claimed that LBC is a token and not security. One such appreciation came from Hogan & Hogan law firm partner, attorney Jeremy Hogan and Eleanor Terrett, Journalist at Fox Business through a twitter post.
Hence, this win against the SEC is now expected to impact Ripple’s XRP lawsuit on a positive note. Currently, XRP is valued at $0.395 after a fall of 3.97% over the last 24hrs.
The LBRY Decision Stands Crucial for Ripple’s XRP and Cryptocurrency Market
The Securities and Exchange Commission (SEC) and Ripple’s legal fight has gone through numerous stages. The cryptocurrency community is speculating about the case’s result as it approaches its conclusion. The case has been ongoing for more than two years, and the conflict feels never-ending.
According to the latest development, John Deaton, an amicus curiae in the SEC v. XRP lawsuit, claimed that the hearing in the LBRY case will be crucial for the cryptocurrency market and XRP. It is anticipated that the SEC will use the judge’s ruling and apply it to every transaction involving LBRY Credits (LBC). This will include secondary market transactions where a user tips a content provider with LBC tokens, the attorney emphasized.
The decision of the LBRY case also made the blockchain community aware of what they would be able to anticipate in a situation similar to this. The outcome of this case is significant because the SEC can use it as a major argument in favor of winning the Ripple lawsuit.
If the Howey Test is strictly implemented in the manner in which the Supreme Court adopted it in 1946, Deaton explained, then, the majority of cryptos won’t pass the Howey test, he added. Lawyers said there was a conflict of interest in the SEC’s conclusion that Ethereum is not a security. Legal experts have also predicted that Ripple will likely prevail in the dispute over the SEC. Currently, Coinbase is one of 16 firms supporting Ripple in its fight with the SEC.
Recently, Ripple CEO Brad Garlinghouse criticized the SEC’s lawsuit, calling the organization’s actions so far “embarrassing,” while also expressing optimism that a decision on the lawsuit would come soon – maybe in the first half of this year.
After obtaining the highly sought-after records of former SEC employee William Hinman, Ripple CEO claimed that individuals who follow the case will be shocked by the SEC’s “shamefulness.”
XRP Price May Hit $0.54 in Coming Month and End the Q1 2023 Trade above $1!
As the foundations for a significant rebound have emerged, the markets appear to have stuck in some crucial levels. However, Bitcoin prices appear to be hovering close to $23,000, displaying huge possibilities of rising beyond the levels soon. Besides, the XRP price appears to inculcate an independent price action as the trends await the bullish push which may be ignited by the outcome of the Ripple vs SEC case.
A popular analyst, anonymously called Dark Defender lists out the possible outcomes of the Ripple vs SEC lawsuit and its impact on the XRP price.
The analyst here provides the levels, the XRP price may reach in either of the circumstances but also believe the price may rebound quickly in case of a bearish divergence. While it is also assumed the lows at $0.22 may offer a strong base for the token, to begin with, a firm recovery where-in the bulls may load their bags before the bug run ahead.
Besides, in the short term, the analyst believes that the XRP price may defend the support and fairly rise high to reach $0.54 in February and above $1.13 in March.
Collectively, the XRP price appears to be at the edge of a massive explosion and may rise significantly in the coming days, regardless of the Bitcoin price rally.
Binance Coin (BNB) and Ripple (XRP) Can’t Keep Up with BudBlockz’s (BLUNT) Impressive Growth
When investing in cryptocurrencies, properly research the market and protect yourself from unforeseen losses. Most catastrophic failures in investment come from poor financial decisions. Thankfully, there are resources on the internet for you to go through and get the information you need. Due to the volatile nature of the crypto market, both old and new cryptocurrencies need to be adequately studied.
The year has started on a good foot for cryptocurrencies like BudBlockz (BLUNT), as seen from its presale. Despite its novelty in the market, BudBlockz is fast becoming one of the most popular cryptocurrencies, even overtaking older projects like Binance Coin (BNB) and Ripple (XRP).
Let’s look at why it’s become difficult for Binance Coin and Ripple to keep up with BudBlockz’s impressive growth.
BudBlockz’s (BLUNT) Growth Surpasses All Expectations
Finding legal ways to ease the distribution of high-quality cannabis has been a problem facing the marijuana market for a long time. BudBlockz (BLUNT) comes in as a solution to that problem. Through blockchain technology, BudBlockz levels the playing field between the crypto market and the sale of cannabis products.
The main goal of BudBlockz (BLUNT) is to create an inclusive, immersive ecosystem that bridges the gap between crypto investors and cannabis traders. Cannabis enthusiasts now have an avenue to trade and invest in cannabis-related products.
BudBlockz (BLUNT) has introduced a decentralized ecosystem to pave an easier path for individuals to access the cannabis sector. BudBlockz (BLUNT) can establish itself as a significant force in the crypto market through this decentralized ecosystem. The BudBlockz ecosystem offers transparency, privacy protection, and security, all of which have contributed to its exponential growth since the start of its presale.
BudBlockz (BLUNT) is a cryptocurrency devoted to creating crypto solutions for its users; this is evident in its involvement with decentralized finance. The BudBlockz crypto platform has its DeFi platform, BudSwap, which will improve the availability of peer-to-peer exchanges for its users and investors.
Binance Coin’s (BNB) Influence Grows on the Market
The primary utility token of the Binance exchange is the Binance coin (BNB). It is also the native token on the Binance Smart Chain. The Binance Smart Chain is an EVM blockchain that functions as an Ethereum alternative. It facilitates the activities of smart contracts and dApps. Even though most of the products on the Binance platform are not dependent on it, their growth is still affected by the value and performance of the Binance ecosystem.
The Binance exchange is the most popular crypto exchange worldwide, and the Binance coin (BNB) has done well despite a few challenges. As its influence continues to grow in the crypto market, there is every indication that the Binance coin (BNB) will be around for quite a while.
Ripple (XRP) Provides Solutions to Exchange Currencies
Ripple (XRP) is a crypto solution that facilitates the conversion of cryptocurrencies to fiat currencies and vice versa. The native token of the Ripple platform is XRP, and it is used to carry out transactions within the Ripple ecosystem.
Recent observations have shown that Ripple has a high chance of growing more in the next few months despite its high volatility. However, Ripple (XRP) may still be one of the biggest cryptocurrencies of the year.
Binance Coin (BNB) and Ripple (XRP) have several utilities that make them valuable in the crypto market, but BudBlockz’s uniqueness has established it as a future leader in the market. BudBlockz (BLUNT) also offers its users promotions, contributing to the platform’s popularity.
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Top Analyst Updates Targets For XRP, Bitcoin And Another Altcoin
After registering a bullish momentum for nearly a month, the crypto market is now dwindling between bears and bulls. The first born cryptocurrency Bitcoin which had regained its long lost $23K level, has now been pulled back towards the $22K area. The similar pattern is followed by Ethereum, BNB, XRP, Cardano, Solana and other large cap altcoins.
At the time of publication, Bitcoin is valued at $22,669 with a plunge of 1.30% over the last 24hrs.
XRP To Spike In The Coming Days
While major cryptocurrencies face the heat of negative pull back, a popular crypto analyst and trader is forecasting a bullish target for Bitcoin, XRP and SYN. The analyst who is anonymously known as Cantering Clark informs his 159,200 Twitter followers that Ripple’s XRP is all set to see a massive upward movement.
As per the above chart, the analyst is trying to convey that XRP has surpassed its high volume node range along with maintaining its trade above $0.422. However, at present the altcoin has lost its $0.42 level.
Currently, XRP is changing its hands at $0.407 after a loss of 4% over the last 24hrs.
Bitcoin’s Bull Run To End In FOMO
Next the strategist shifts his focus towards Bitcoin where he claims that the flagship currency is yet to complete its bull run. He then hopes that Bitcoin’s bull run will end with fomo (fear of missing out).
Synapse (SYN) To Surge 115%
Lastly, the analyst concludes his analysis with Synapse (SYN) which is a platform that allows transfer of digital assets between blockchains. According to Clark, Synapse is set to spike nearly 115% once SYN moves beyond $0.70 level.
At the time of writing, Synapse is trading at $0.797 with a pull back of 9.71% in the last 24hrs.
This Is Why XRP Price is Failing to Rise Above $0.42-What’s Next?
For nearly 3 months XRP price is being less impacted by the current market trends. The price recovered quickly from the losses generated by the FTX collapse while major tokens continued to face extreme bearish action for an extended period. Therefore, the XRP price remains consolidated despite the BTC price surging to mark new highs for 2023.
XRP price has been trading under $0.4 after the market collapsed in May 2022, without considering the September jump that resembles a fakeout. While many tokens including Bitcoin are displaying immense bullish momentum and the potential to surge with a double-digit margin, XRP price is struggling to sustain above $0.42 as the bearish actions suppress the price below these levels.
XRP Whale Accumulation Surges
However, some of the metrics indicate the platform is gearing up to hold the prices above the gained levels.
The Daily active address of XRP is making huge variations in the past few days which indicates the increased activity of the market participants. Regardless of whether they are buying or selling, the platform could remain volatile for a longer time frame which may impact the price thereafter.
Whale accumulation is one of the important indicators that may be utilized to analyze the upcoming trend of the token. A rise in the accumulation usually denotes the whales who hold nearly 1% of the total coins in circulation are bullish in the near future.
Therefore, the market sentiments quickly turn bullish that impacting the price to a large extent. Presently, the whales holding tokens above 1 million have been accumulating XRP which indicates a bullish trend to resume any time from now.
Another pivotal indicator that could shed light on the upcoming trend is the development activity. It considers the total commits on the GitHub repository where-in the activity is recorded which is usually public. The XRP development activity is on the rise which indicates the development team is constantly working on the network upgrades and may soon bring new features on board. However, with the active participation of the development team, the traders remain bullish on the token in the long term.
Collectively, XRP price appears to be accumulating strength and gearing up to display a gigantic upswing soon. The price could explode when Bitcoin & other altcoins begin to trade sideways displaying its capability to remain independent of other tokens.
XRP Price Heading For Fake Breakout? XRP May Open Short Positions at This Level
Ripple’s investors are currently in confusion if XRP will ever be able to break its multi-year bearish trend as the altcoin makes noticeable price fluctuations with higher highs and lows. However, Ripple’s CEO, Brad Garlinghouse, is optimistic about Ripple’s win against the SEC in the ongoing lawsuit as all motions are filed in favor of Ripple.
Moreover, Ripple’s show-off in making a win has been displayed in its recent development of the XRPL core ledger, which is a decentralized blockchain currently under development with the process of structuring the network.
Will XRP Hold Its Momentum?
XRP price has witnessed an unexpected surge recently after making a slow uptrend for a few days. The primary catalyst behind this massive pump revolves around Brad Garlinghouse’s positive comments on Ripple winning and XRPL core ledger’s development.
According to Whale Alert crypto tracker, XRP has seen a huge token movement by whale crypto wallets in the last 16 hours. Whale alert tracked four massive transactions, out of which one was a whooping movement of 222 million XRP tokens.
XRP-focused analytic firm Bithomp pointed out that those transactions were mainly between Bittrex and Bitstamp wallets initiated by whale holders with a process to liquidate holdings. Hence, traders should stay aware as transactions in millions may eventually lead to a FUD situation, causing a severe downtrend in the price chart.
XRP has been in the headlines in the crypto market, including Twitter, as it has become a hot discussion regarding its price trend and the anticipation of Ripple’s winning chance. According to on-chain analytic firm Santiment, XRP’s price usually gains when its social dominance spikes.
What Lies Ahead For XRP Price?
Though the ongoing lawsuit costs XRP a lot and bears are continuously trying to put selling pressure on the price chart, the altcoin seems to get no impact as it goes on hitting new milestones every day. Moreover, Ripple Labs still generates billions in revenue and expands its operations around the globe, bringing more confidence among XRP investors.
However, the sudden spike due to social hype may lead to a downward correction as XRP tumbles near the immediate resistance level. A well-known crypto analyst, MtICHI, predicts that XRP is poised to hit the $0.2 mark in the next few days. The analyst noted that XRP had formed a ‘wolf-wave’ pattern which may bring two scenarios for the altcoin.
The first trend can be observed if XRP breaks above $0.45 and faces a rejection at $0.8, which may plunge the asset below $0.2. The second scenario may be a sharp downtrend in which XRP can make a reversal soon, and a drop below $0.2377 may take the token to the bottom level of $0.1772.
Top Analyst Predict Bullish Continuations for XRP, APT & FTM- Is This the Beginning of Altseason or a Bull Trap?
The crypto markets traded sideways throughout the past weekend as the price of the major tokens appears to have been fluctuating within a range. The BTC price is also unable to breach the crucial resistance at $23,000, which was expected to be cleared quickly after clearing the pivotal zones at around $22,800.
However, some of the altcoins are displaying immense potential to rise beyond the resistance and maintain a notable upswing in the coming days. A popular analyst, Micheal van de Poppe, believes these tokens may maintain bullish momentum and clear the barrier soon.
Here’s his outlook on the key altcoins you need to keep a watch on for now.
Ripple (XRP)
Ripple has been showing significant strength which led to a 30% upswing in the past couple of weeks and uplifted the price beyond the crucial levels of $0.42. After the fresh upswing, the XRP price is believed to experience a minor pullback below $0.4 regions which may further trigger a strong recovery.
“That worked out for XRP
Now, I’d like to see $0.395 and hold as support
It not, then I’d be looking at $0.35 next,”
Fantom (FTM)
The Fantom price surpassed the main target by close to $0.25 and surged heavily to reach $0.4. Currently, the asset is facing some bearish action, which is preventing the price from rising above the highs.
However, the bulls are resilient and have been able to hold the price close to $0.4 which elevates the possibility of a bullish breakout in the next few hours.
“ This one should provide continuation in the coming week, but preferably I’d be cautious here too.
Aggro entry zone is around $0.34, which is a must-hold. Did give a bounce already.
Conservative long approach around $0.305,”
Aptos (APT)
Aptos price, after a massive start in November, maintained a descending trend and within a very narrow range. The trading volume also remained extremely low due to which the price maintained involatile. However, the trend flipped heavily since the start of 2023. The bullish volume exploded and the momentum remained elevated.
“ This one has been accelerating quiet fast and I’m getting comments whether it can reach $360 this year.
Time to be conservative on this asset.
Aggro entry approach-$11.25
Defensive entry approach- $8.25 – $9.
Going to be incredibly interesting market,”
David Schwartz’s Unique Insight On XRP Supply and Token Distribution
David Schwartz, the chief technology officer of Ripple and one of the architects of the XRP Ledger, offered some novel perspectives on the XRP supply. The blockchain figure’s comments were sparked by a discussion about cryptocurrency inflation and a recent airdrop of the FLR token from Flare Network.
Let’s see what he has to say about this.
Schwartz Regrets Not Distributing more XRP when prices were low
Schwartz expressed dismay that Ripple did not give more tokens when the price of XRP was low. He believes that things have become significantly more challenging as a result of the massive rush of tokens that have entered the market now that the price of XRP is at $0.4.
Another issue is that Americans receiving the tokens would be subject to regular income tax, which would require them to sell about 50% of the tokens when they receive them. According to Schwartz, this is one of the reasons why all tokens should be released into the market while the price is at its lowest.
Ripple CTO David Schwartz not pleased with the Flare governance
Flare is a blockchain platform that allows developers to create applications that utilise data from other chains and the internet. On January 9, the team completed the FLR airdrop Token Distribution Event, during which approximately 4.279 billion Flare (FLR) tokens were issued to millions of qualified XRP holders with the assistance of multiple crypto exchanges.
The Flare governance proposal (FIP01), if approved, would include a number of changes that would affect the distribution and inflation of the native token of the Flare blockchain.
Ripple CTO David Schwartz doesn’t seem to be too thrilled with this plan. Two reasons are given by him. The first is that it only provides XRP holders with 15% of what they were promised. Second, a significant amount of monetary expansion that doesn’t seem to benefit anyone is built in.
With respect to the airdrop when a user asked whether the XRP community would get the remaining airdrop balance automatically or if they must wrap the FLR, Schwartz replied to this with a tweet of his own stating that there is no remaining balance.
John Deaton Predicts the Fate of Bitcoin (BTC), Ethereum (ETH) & XRP After 5 Years
It appears that cryptocurrencies are recovering from a phase of collapse in the industry, which was caused by FTX and Alameda. On significant spot exchange platforms, Bitcoin (BTC) briefly jumped to $23,330 on January 21, 2023, reaching heights not seen since August 19, 2022 and hitting new five-month highs.
John E Deaton recently tweeted that he believes that Bitcoin (BTC), Ethereum (ETH), and the XRP token will still be standing in five years’ time. Let’s explore the meaning behind this statement.
Future Outlook For BTC, ETH, and XRP
Blockchain enthusiast and founder of CryptoLaw John Deaton predicts that XRP (XRP), Bitcoin (BTC), and Ethereum (ETH) will all still be standing in five years.
Returning to a forecast he made in August of last year, John E Deaton referenced research by the Head of Assets at Zurich-based Sygnum Bank that suggested three digital assets of the future: Bitcoin as a store of value, Ethereum for infrastructure, and XRP for payments. Deaton maintains his projection because, except for the ongoing Ripple litigation, nothing has changed for XRP since 2020, when the prediction was made.
XRP Remains Resilient
The SEC filed a lawsuit against Ripple Labs and two of its officials in December 2020, stating that $1.3 billion in XRP sales constituted unregistered securities. The price of XRP plunged significantly to roughly 20 cents shortly after the lawsuit was filed. Despite this, and the subsequent removal from certain exchanges’ lists, XRP has maintained its position as one of the top 10 cryptocurrencies by market capitalization.
This demonstrates the resilience and the value proposition of XRP, which remains unaffected by external factors. XRP has remained one of the top 10 cryptocurrencies for the past ten years. Since its debut in June 2012, the XRP Ledger platform has been functioning seamlessly.
Between the close of 2017 and the start of 2018, XRP saw a tremendous rise, surging by thousands of percent and briefly overtaking Ethereum as the second-largest cryptocurrency.
Community Reacts
The crypto community paid close attention to this prediction made by Deaton. Many of them agree with the prediction, while others agree only partially. Some have even gone so far as to predict that Ethereum (ETH) won’t last very long. Some have additionally contributed to the list Deaton has stated.
Ripple on the Rise: Will XRP Price Hit $0.43 Next? Experts Weigh In
The XRP price has rallied over 5 percent in the past 24 hours to trade around $0.43 on Monday. Unlike Bitcoin and Ethereum, the XRPL native coin is yet to fully recover from FTX and Alameda’s implosion. As such, a breakout from current levels could lead to a rally toward $0.49. Such a move is supported by the 200W MA that has stabilized around $0.50 since XRP hit bottom in June of last year.
However, such a move could be invalidated should the price respect the falling trend line formed in April 2021. As a result, the digital asset could correct towards $0.32, a support level respected since June last year.
According to a popular analyst on Twitter (@PrecisionTrade3), XRP price is moving in correlation with Bitcoin’s price. As such, an imminent Bitcoin correction could push XRP price towards $0.35 in the near term.
With a market capitalization of approximately $21,228,377,262 and a daily trading volume of about $1,175,276,611, the XRP market has a long way to enter the top five digital assets. Moreover, Binance’s BNB – ranked fifth by valuation – has a market capitalization double that of XRP and continues to trade in a close correlation with Bitcoin.
As a top traded digital asset, XRP has recorded to tap liquidation of approximately $2.82 million in the past 24 hours according to data by Coinglass. The high liquidation could lead to a price rally as demand for XRP increases on exchanges and OTC markets.
Meanwhile, the ongoing Ripple vs SEC lawsuit remains a huge stumbling block to the XRP price rally. Furthermore, other tokens, including LBRY, already deemed as securities by the SEC have completely failed.
Crypto Whales Transfer 356 Million XRP Tokens, XRP Price Nears $0.40
While Ripple is looking forward to a win in its ongoing case against the US Securities and Exchange Commission (SEC), its native currency XRP is finding its recovery phase. The altcoin is just a few cents below hitting $0.40.
However, though XRP has experienced a remarkable performance, the currency’s massive spike depends on its win in the Ripple vs SEC case. Since June 14 the XRP price has been trading within its symmetrical triangle.
At the time of publication, XRP is selling at $0.39 with a surge of 1.72% in the last 24hrs.
Crypto Whale Transfers Huge XRP Tokens
Meanwhile, Crypto whales have been transferring millions of XRP tokens amidst the recovery phase. The WhaleAlert data claims that the Crypto whales have moved beyond 350 million XRP tokens in the last 24hrs. Among these, an unknown wallet has received 261 million XRP which is worth nearly $102.4 million and this happens to be done in one single transaction.
Furthermore, on the last day, the whales also bought 65.8 million XRP which amounts to nearly $26 million in multiple transactions. Among these accumulations, one single transaction has recorded a purchase of $13.6 million XRP. On the contrary, as per the reports, a few whale addresses have discarded around 62 million XRP from unknown wallets to different crypto exchanges.
On the other hand, another report has mentioned that XRP is now one of the highest-value token locks. This report comes from an escrow account which is a legal financial agreement where an asset or liability is held by a third party.
XRP Is All Set To Make A 180 Flip! Will Ripple SEC Lawsuit Initiate A Fresh Uptrend For XRP?
XRP price has kept traders and investors on the verge of volatility as the trend creates confusion in the crypto space with concerns regarding the controversial central banks. Market experts believe that a sudden change in the monetary policy from the Bank of Japan and responses from European Central Bank (ECB) official Villeroy may develop a shockwave as the XRP token is not immune to it.
However, the lawsuit against the SEC may favor Ripple as US attorney John Deaton has criticized predictions on SEC’s victory.
XRP Price To Experience A Gradual Rise In Recovery Trend
Ripple’s high-profile war against the SEC has gained support from leading market influencers, including Coinbase and the crypto lobbyist group Blockchain Association. However, the native token XRP is trying to spark a downward retracement as the choppy price action seems to bring multiple hurdles in the price chart.
A prominent crypto analyst, Trading Surfers, predicts an exponential upward rally for the XRP token if it validates specific price points. According to the analyst, XRP has been waiting for one year for a bounce off the critical level of $0.34.
The analyst noted that XRP might initiate a slow increase on its Elliott path to $1.5 if it breaks above the $0.38 price zone. However, at a lower degree, XRP may again bring bearish woes with a downward journey to $0.18 if it crosses below the price range of $0.34-$0.38.
Will XRP’s Bulls Give Up Amid FUD Situation?
While the crypto market is still enjoying a bull run, XRP’s price brings fear among altcoin traders as the token struggles to hold its price near the 200-day simple moving average. However, the trend of XRP has not been much volatile compared to other altcoins in the market, but it hints at a 25% sideways movement.
According to CoinMarketCap, XRP currently trades at $0.3897, with a surge of over 2% in the last 24 hours. The Stochastic RSI has pulled itself down to a stable region near 72 as the RSI-14 drops to 61, signifying a continuous bullish trading session. Looking at the daily price chart, XRP has again built support at $0.37 after a rejection below the EMA-200 trendline.
XRP has room to spike if the current bearish sentiments regarding central banks fade away. If XRP continues to climb to its 23.6% Fib retracement and makes a breakout trade above $0.41, it can lure bulls to increase buying pressure and push itself to its Bollinger band’s upper limit of $0.45.
However, the above bullish analysis may get rejected if the support at 200-day SMA does not hold. A trade below the EMA-20 trend line may slump the XRP token to the bottom levels of the descending weekly RSI at $0.31.
Crypto Market Analysis Today: Is it Over for Cardano (ADA) & Ripple (XRP) Price?
Cardano (ADA) Price Analysis
Cardano displayed a notable recovery in the past few days as the price underwent a parabolic recovery to gain the levels it traded before the market collapsed in November. However, after rising beyond $0.35, it was assumed the price may spike beyond $0.4 but the Genesis debacle could prevent a giant move towards the north.
The ADA price accomplished the parabolic recovery and despite undergoing a minor correction to form a cup & handle pattern, it surged high to reach the interim resistance. Therefore, a rejection then appeared to be imminent that occurred in the past few days. Presently, the price is trading within crucial resistance-turned-to-support levels. If these levels are not held, then a significant plunge may drag the price close to $0.3 in the next few days.
Ripple (XRP) Price Analysis
The Ripple price in the short term is displaying a sense of strength as the price levels hover within the same resistance and support levels. The recent rally did not amplify the price levels to a large extent as it did with the other altcoins. Therefore, the possibility of a rebound emerges as the bulls appear to hold notable strength to ignite a rebound.
The XRP price is testing the crucial price levels at 200-day MA, clearing which may induce strong bullish momentum within the asset. However, the market sentiments have turned slightly beamish which may compel the price to drop below these levels. Therefore, if the Genesis fiasco impacts the crypto space to a large extent, then a plunge slightly below $0.34 can be expected, else the price may remain consolidated until the next move uplifts the price beyond the reach of the bears.
XRP Price To Spike Massively In The Next 15 Days
Just like many other cryptocurrencies that have spiked in 2023, there is one altcoin, XRP which has limited its price action. While the major cryptocurrencies like Bitcoin, were recovering, XRP rebounded from $0.33 support and hit the $0.4 area before dropping.
At the time of publication, XRP is selling at $0.386 after a loss of 1.27% over the last 24hrs.
Now, as we enter the second half of January, the upcoming months are very crucial for the cryptocurrencies to mark the bull run. After experts, it looks like Artificial Intelligence will take over the prediction category. This machine-learning algorithm has predicted XRP price prediction for Feb 1, 2023.
XRP Price On A Massive Bull Run
As per AI’s prediction, Ripple’s XRP will experience a massive price hike the next two weeks. Furthermore, the machine-learning forecast claims that by Feb 1, 2023 XRP will hit a target of $0.40. Next, the currency is expected to increase by 2.8% in the next 14 days.
Adding to this prediction, the Trading View flashes buy at 11 and even the moving average points towards buy at 10. Additionally, the oscillators are showing neutral at 9.
Hence, it all depends on market sentiment which has to maintain the current positive trend so that XRP holds on to its bull run.
Will The Ripple Vs SEC Lawsuit Push XRP Price To $1 in 2023?
After the Consumer Price Index data indicated that inflation had dropped to 6.5% from 7.1%, the cryptocurrency markets almost immediately went bullish. XRP has been exhibiting persistent bullish movement as of late, which has sparked excitement among both enthusiasts and investors.
At the time of this writing, one token is worth $0.4, reflecting an increase of 1.6% over the course of the last 24 hours and 12% over the course of the past seven days.
XRP Aiming for the $1 Mark?
Because of the previously indicated constancy in XRP’s positive momentum, we are compelled to evaluate the probability that the coin may make an attempt to reach the $1 threshold.
Ripple, the company that issued XRP, is now in a high-profile legal battle with the United States Securities and Exchange Commission (SEC), and investors are hopeful that a verdict in favor of Ripple would have an immediate, massive bullish effect on the price of XRP.
In addition, whales are demonstrating a phenomenal interest in the token at the present time, as seen by the fact that they are continually purchasing hundreds of millions of it. The majority of TradingView’s technical analysis (TA) indicators on 1-day gauges point to a bullish outcome from a purely technical vantage point.
On the current market, XRP has a total market capitalization of $19.8 billion, which is an increase of approximately $2.7 billion over its market cap on January 1, which was $17.1 billion at the beginning of the year. And talking about market cap, the token is now the sixth biggest cryptocurrency.
Will Ripple Win Against SEC in Lawsuit?
If John E. Deaton, a defense attorney and prominent commenter on the issue, is correct in his prediction that the SEC will lose the case, then Ripple and XRP may have a good chance of winning.
The lawyer said that the SEC’s argument, which asserts that the XRP token has always been a security, is proof that applying the Howey test to Ripple Labs and XRP is tricky and complex.
According to Deaton’s research, all of this demonstrates that the SEC is wrong in its determination that XRP satisfies the second and third prongs of Howey, and hence that the SEC has very little chance of victory in this case. We don’t know whether Ripple will be able to pull off a victory over the SEC, but only time will tell.
Fox’s Charles Gasparino Sparks Controversy, Claims XRP Community “Hates” ETH
There appears to be a subtle ongoing competition between XRP and ETH, according to Gasparino’s recent tweet, in which he stated that he finds it absurd that the XRP community despises everything related to Ethereum.
Charles Gasparino is a journalist, author, and commentator who has covered Wall Street and financial markets for over two decades. He is currently a senior correspondent for Fox Business Network and a frequent commentator on financial news programs. His recent comment has sparked controversy in the crypto space. Let’s see why.
Gasparino’s Comment Garners Attention
According to Charles Gasparino, the XRP community hates anything connected to Ethereum. The journalist who tweeted about this yesterday called the notion of hostility absurd because everyone he knows who is connected to Ethereum wants Ripple to win the case against the US Securities and Exchange Commission.
This is the second time in recent months that the journalist has defended Ethereum by seeming to attack XRP. Less than two weeks ago, the FOX Business correspondent debunked allegations that Bill Hinman, a former director of the Securities and Exchange Commission, had a conflict of interest prior to making the contentious statement that Ethereum is not a security in his 2018 address. He claimed that by continuing to promote this narrative, the XRP community is behaving like conspiracy theorists and little children.
XRP Community reacts
The XRP community has responded in a frenzy to Gasparino’s remarks. Gasparino’s assertion that the whole XRP community despises everything associated with Ethereum was disputed by Crypto Eri, a well-known XRP influencer, who pointed out that some XRP community members also possess ETH. Instead, the influencer claimed that people in the community are angry because of the SEC and some Ethereum founders’ conduct. She also claimed that Gasparino appears to be under influence.
Mr. Huber questioned the journalist’s research skills, presenting texts and clips from many times when Ethereum founders defended the SEC case against Ripple.
Some have thrown jabs in response to Gasparino, at the Ethereum network’s shortcomings. Specifically pointing out the gas it takes to run it.
The XRP price is $0.39, with a total market capitalization of $38,531,265,865.03 and Ethereum price today is $1,544.69 USD with a market capitalization of $189,029,128,931 USD.
Crypto Market Analysis: With the Biggest Bitcoin Rally in 9 Months, Here’s What to Expect with XRP Price!
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Bitcoin underwent a massive upswing, rising the entire crypto space beyond their respective multi-month resistance levels
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The bullish momentum prevailing within the space uplifted the XRP price close to the pivotal resistance at $0.4 and a clear breach beyond these levels may ignite a minor bull run soon
The crypto bulls are back with a bang as the global crypto market cap is an inch close to regaining levels beyond $1T. XRP price which was manifesting a sense of strength despite the bearish trap drag it to meet the lows below $0.3. However, the recent bullish divergence caused the price to rise significantly and mark the highs above $0.4 in a short while.
While the bears are attempting to restrict the progress of the rally, the bulls appear to be poised to keep up the momentum until the price reaches $0.5.
XRP Price Analysis – Short-Term (1D)
- XRP price has been bullish since the beginning of 2023 which was fueled by the rising market sentiments during the past weekend
- After a magnificent surge of more than 20% in the past week, the XRP bulls appear to have exhausted to some extent at the moment
- The bears are attempting very hard to strengthen the bearish influence but the mounted bullish pressure may not allow doing so
- However, the XRP bulls are required to rise the price levels above the price zone marked in blue to avoid any rejections in the near future
- A daily candle beyond $0.42 may certify the upcoming bullish trend, else a deep dive to $0.3 also appears prominent
XRP Price Analysis-Long Term (1W)
- The XRP price in the longer time frame has risen above the bearish pattern and tested one of the crucial resistance levels at $0.405
- Clearing the resistance of the descending triangle flashes extreme bullish signals that may elevate the price close to $0.5
- However, a minor bearish action may be expected at these levels but a significant bullish reversal could also knock-in later
- However, the monthly close of the XRP price is required to be beyond $0.6 may invalidate the bearish thesis
- On the contrary, a drop toward $0.32 may discard the bullish trajectory in case of a rejection which appears quite unlikely at the moment