Despite staying low-profile, Ripple is aiming higher than ever
Discussions around the situation of Ripple Labs and the blockchains native currency, XRP, have slowed down as of late. Ripple hasnt made the headlines as much as its counterparts, Bitcoin and Ethereum, nor has it encountered the exposure of controversial meme coins or cryptocurrencies surrounded by controversy. Now, Ripple has been stealing the spotlight with the ongoing events in its sphere, like the Initial Public Offering (IPO) that the company keeps pushing through for or the fact that whales are amassing staggering amounts of XRP. A long-held dispute between the company and the United States Securities and Exchange Commission has marked the last months and is unlikely to be a non-event for the whole crypto industry.
Despite tumultuous times, Ripple Labs is optimistic about the IPO, the verdict with the SEC, the Ripple price prediction, and the blockchains expansion. A few developments are worthy of our attention as theyll dictate the future of Ripple and generate consequences for the whole sector, so lets break them down!
More optimism concerning the dispute with the SEC
The conflict between the SEC and Ripple Labs is as old as the hills, but so was the confrontation with Ethereum. Its not long since Ethereum seized a triumph against the SEC, which, as events have unfolded, has argued that the asset is a security instead of a commodity and should be treated as such.
After endless back-and-forth arguments, the SEC has concluded that Ethereum is to be taxed like a commodity, similar to oil, gas, gold, silver, and other commodities. The victory brings a glimpse of home against the backdrop of instability regarding Ripple XRPs status and use cases. The debate has been going on for years, but its these days that representatives from Ripple indicate confidence in a favorable outcome.
The blockchain-built digital payment provider goes through the trial phase of the case. In light of the ever-rising suspense, Cyber Unit Chief David Hirsh resigns to follow a new career path following a penalty cut from the SEC of almost $1.9BN. Other lawsuits see Ripple involved and thus add to the legal woes numbered. However, Brad Garlinghouse, the CEO of Ripple Labs, keeps looking on the bright side after calling the resolution of the statements iterated in 2017 a victory. The business tycoon sees the whole part of the glass as the XRP lawsuit relocates to the magistrate judge for settlement, and a favorable ruling is expected.
Whale hoarding detected
The same high spirits displayed by the CEO of Ripple encourage believers to keep tabs on XRP and investors to pour money into it. Recent news disclosed that a whooping 130M XRP Coins have been transferred into whales accounts during the last weeks amid the latest price flux and the chairmans optimism about a potentially favorable outcome after the cases closure. Three whales jointly amassed 129.77MN XRP in a single day, according to X posts from Whale Alert.
The inflows registered by XRP unfolded simultaneously with the lawsuits development and suggested renewed hope. Despite the en-masse acquisitions and the improved expectations regarding the lawsuit, Ripples native token price has consolidated for now. Whats interesting, whatsoever, is the mindful amassing of XRP. The assets price drops seemed to have pushed addresses to hoard XRP, bagging coins even when they fell to $0.4.
These strategic undertakings can be signs of buy-the-dip strategies unfolding on a large scale. With all the optimistic news online and handy investment means, adding XRP to the portfolio is easy. This is where its essential to remember that your best ally is your common sense, so dont treat these investments lightly. Conduct your own research and never invest more in a cryptocurrency than you can afford to see going down the drain.
Strengthened confidence in Ripples IPO success
Ripple set up an IPO, short for Initial Public Offering, in an effort to raise money to make the private company go public and sell its assets. Numerous initiatives have flourished this way, including that of the largest online cryptocurrency exchange, Binance and Binance Coin.
Despite the recent turbulences, the company keeps its chin up and is firm in its commitment to breaking into the public sector. Commentators indicate the offering may emerge after the SEC lawsuit is finally finalized after four dire years of ongoing dispute.
At the same time, the U.S.s regulatory landscape is anything but straightforward. In an unexpected move, Garlinghouse revealed that going public abroad remains a valid option. Going public under the current rules would make less sense. Still, market pioneers look forward to the settlement and keep hoping that the IPO in the U.S. could come to fruition.
A reputable media influencer stated back in February that Ripples large XRP holding could cause the company to exhibit the most significant IPOs to date, should the company succeed. This outcome would significantly affect the coins price. Noteworthy, it wouldnt be a shocker to see XRP attain a new ATH. Ripples share price now revolves around the $41K level, enjoying a valuation of $5.7BN higher compared to the same figures registered a year ago.
Other factors impacting XRPs price
XRP is known for riding out storms while remaining relatively stable during periods of market instability, and the current trading volume changes attest to this. Within a single day, Ripples trading volume rose by 100%, meaning that its resilience has a lot to say about how the assets price fluctuates.
The continuous case between the SEC and Ripple Labs is a critical element that could suppress the assets volatility and price. Nevertheless, the outcome will impact the company in question, owners invested in Ripple, and the whole crypto industry to a certain level. The lawsuit is in the trial stage, but as Ethereum has demonstrated, an asset, once mistaken for security, can prove its commodity attributes.
The debate shows no signs of concluding soon, but this doesnt mean the odds arent in Rippes favor.
Crypto market watchers keep tabs on XRPs price and Ripple Labs developments, staying vigilant for any favorable market shifts. Hopes are that the recent (and abovementioned) developments can drive an upward trend.
Read more: https://www.tronweekly.com/despite-staying-low-profile-ripple-is-aiming-higher-than-ever/
Text source: TronWeekly
