The last 24 hours haven’t been kind to XRP, seeing a 3% dip with the current price resting at $0.60, fluctuating between $0.644 and $0.635. But despite trading volume dropping to 140%, there’s a glimmer of hope for a December surge toward $0.75, a 20% leap, if the bull flag scenario plays out and triggers a significant rebound. With Ripple’s IPO delay XRP’s price is facing a fresh resilience and it needs more positive scenarios to gear up.
Behind the scenes, bullish trends are brewing in XRP’s on-chain data. Accumulation among top addresses, those holding between 100,000 and 10 million tokens, has spiked. These “whales” have invested $6.82 million in XRP over the past week, indicating a belief in an imminent price rise.
Yet, despite this potential, XRP still hasn’t hit a new all-time high, which has raised criticism from XRP Lawyer john e deaton
Deaton’s criticisms stem from their seemingly contradictory stances on crypto. On one hand, Clayton, despite advocating for crypto, was responsible for the lawsuit against Ripple before leaving the SEC. This flip-flopping stance hasn’t gone unnoticed, with Deaton calling out the lack of accountability and fairness in their approach.
Even Ripple
This clash between regulatory authorities and the crypto community underscores the uncertainties faced by XRP, despite its potential for growth. While XRP faces hurdles, its resilience in the market signals a community eager for clearer, fairer regulations and a genuine chance to thrive among its crypto counterparts.
Legal experts say there is a very good chance that Ripple and the SEC will reach a deal before the trial starts again on April 23, 2024. John Deaton says that any deal that is less than $20 million will be a win for Ripple 99.99% of the time.
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