XRP is Ready to Burst
Ripple, the company behind the popular cryptocurrency named XRP, has been suffering from the lawsuits due to the claim that the token was issued as an " unregistered security " and sold by the team. Thus, the coin cannot join the alt party while all others made at least 2x meanwhile.
The case is not settled yet. Most probably, the victory of XRP will take place because the court decided that the team did not sell unregistered security to the public, however, this happened to some institutional investors. As a result, both parties are found partially right about their claims.
These days the coin is recovering and there is some data that shows an expected huge move, it can be in both ways, in XRP.
The Technical Chart is Strong in XRP
The coin has broken the triangle in the weekly chart. Also, it has been forming higher lows as a good sign of recovery soon.
Though the uncertainties cover the bright future of XRP, it is obvious that the coin is still undervalued, or maybe, it is the most undervalued coin in the market.
XRP has never been a part of the shared " peer to peer; bankless crypto " movement. Rather, it established partnerships with banks, and tried to integrate bank - to - bank transfers using Ripple infrastructure.
This is one of the reasons why many people do not like XRP at all. However, in the case against the SEC, crypto should be united to support XRP in their initial coin offering process.
Compared to the performance against Bitcoin, it is still oversold and the potential is as high as 7x if the case of XRP is settled in favor of XRP.
Most probably, Ripple will accept to pay for the charge that is decided by the court and the coin will pump hard to compensate for the red days' losses in value. March and April will be quite stressful for XRP investors as the company will share a briefing about the final situation.
On-Chain Transaction in XRP
Something big is coming.
The massive volume of XRP transfer indicates that the market will watch the show of XRP soon. However, we may see a terrible bloodbath or 5 days of upside move in XRP as we used to do.
If we get the positive news, then we can confirm that the unique cycle of XRP has begun. Otherwise, it is always better to be cautious. I allocated around 5% of my crypto portfolio to XRP knowing that this wild coin follows its own way to enjoy the bull market.
What do you expect to see in XRP during 2024?
Share your insights below 👇
Hive On ✌️
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I have always preferred XLM to XRP, but I must admit that even CoinMarketCap doesn't agree with me :)
XRP is undervalued and it also did not perform in the last bull run because of the SEC lawsuit. Do you think now its getting ready to explode?
@sagarkothari88 vote
The issue with XRP is due to it being bank centred. Their market always looks so rigid. Anyway, I must say they've tried to put up a fight with SEC for so long. We know what the SEC wants funds for compensations as usual. Can't really say much about XRP because I haven't been following, maybe I will have to put closer eyes on it. As long as you've done your research it's always ok to hold on.