What this shows is that until the case with the SEC is concluded, XRP will continue to struggle in the market. Furthermore, if the final judgment were to be against Ripple, then investors should expect a rapid decline in the price of the asset.<\/p>\n
The only thing that can categorically determine if there is a bull rally coming for the altcoin would be for the outcome of the case to be in favor of Ripple. Until then, the price of the digital asset is expected to trade sideways, as well as lag behind the general crypto market.<\/p>\n
Featured image from Outlook India, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
XRP price is having a shaky start to the year 2023 after a sharp drop on Monday during Asia hours. The digital asset eventually recovered but it remains shaky even now a new report from Santiment shows that there could be a bull case for the cryptocurrency. This bull case is tied to large XRP holders who have been accumulating coins over the past six months. A Bull Case For XRP The report from Santiment starts out with the revelation that large investors holding between 1 million and 10 million XRP tokens have been increasing their bags aggressively. Apparently, over the last six years, these investors raised their collective balances by 25%. This now meant that they were holding more than 4 billion XRP. Related Reading: SOL Jumps 15% In 24 Hours As Solana Receives Support From Ethereum Founder Santiment notes that such accumulation trends were important given that they are often observed during bear market bottoms. Basically, when these whales go on a buying spree such as this, it is when the price has already reached its lowest point in the bear market. So if history is anything to go by and this was to have the same effects as previously seen, then it could mean that there is a bull rally in scope for the digital asset. Additionally, it explains that the MVRV 30 for the altcoin shows that short-term holders were seeing losses of 7% on average. So this points to a hesitancy to sell among these holders because they do not want to take a loss. This refusal to dump tokens and whales adding to their balances adds up to less supply hitting the market while demand is on the rise. Basic laws of economics will easily put this as a recipe for a jump in the price of assets, hence the bull case for XRP. XRP price continues to struggle at $0.34 | Source: XRPUSD on TradingView.com But What If This Isn\u2019t The Case? One thing that XRP holders have to take into account is the Securities and Exchange Commission\u2019s lawsuit against Ripple. This case is yet to be concluded and it continues to put a damper on the price of XRP. To know just how much of an effect it had, while most cryptocurrencies in the market were hitting new all-time highs, XRP\u2019s price had declined, unable to even reclaim its own all-time high price from 2018. Related Reading: Valkyrie Investments Wants To Take Over Grayscale Bitcoin Trust, Reveals Plans What this shows is that until the case with the SEC is concluded, XRP will continue to struggle in the market. Furthermore, if the final judgment were to be against Ripple, then investors should expect a rapid decline in the price of the asset. The only thing that can categorically determine if there is a bull rally coming for the altcoin would be for the outcome of the case to be in favor of Ripple. Until then, the price of the digital asset is expected to trade sideways, as well as lag behind the general crypto market. Featured image from Outlook India, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":514526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[57231,4531,87387,13172,10972],"class_list":["post-514525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-santiment","tag-xrp","tag-xrp-performance","tag-xrp-price","tag-xrpusd"],"acf":[],"yoast_head":"\n
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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Santiment Paints Bullish Picture For XRP, But This May Not Be The Case","url":"http:\/\/wncen.com\/news\/ripple\/santiment-paints-bullish-picture-for-xrp\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/santiment-paints-bullish-picture-for-xrp\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/XRP.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/XRP.jpeg?fit=1200%2C675"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["santiment","xrp","xrp performance","xrp price","xrpusd"],"dateCreated":"2023-01-03T23:00:05Z","datePublished":"2023-01-03T23:00:05Z","dateModified":"2024-06-11T07:58:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Santiment Paints Bullish Picture For XRP, But This May Not Be The Case\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/santiment-paints-bullish-picture-for-xrp\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/santiment-paints-bullish-picture-for-xrp\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/XRP.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/XRP.jpeg?fit=1200%2C675\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"santiment\",\"xrp\",\"xrp performance\",\"xrp price\",\"xrpusd\"],\"dateCreated\":\"2023-01-03T23:00:05Z\",\"datePublished\":\"2023-01-03T23:00:05Z\",\"dateModified\":\"2024-06-11T07:58:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/XRP.jpeg?fit=1200%2C675","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/514525"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=514525"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/514525\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/514526"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=514525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=514525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=514525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}