• The XRP price is back in the buy zone, and analysts believe it is a bargain to get in at this time.
• The SEC and Ripple filed their final submissions toward the end of 2022, and the world is waiting anxiously to hear the court’s ruling.
• According to Santiment, large-volume investors, popularly referred to as whales, have since November put all their weight into XRP.
The current crypto market is a hotbed of activity, with Ripple’s XRP as one of the most sought after digital assets. XRP has seen a resurgence of interest as the leading international money transfer token has snapped out of a market-wide relief rally that saw assets like Solana (SOL), Polygon (MATIC) and Litecoin (LTC) post double-git gains in less than a week. Buying XRP at this time could be seen as a bargain, as the price is currently back in the buy zone.
However, there are still a few looming issues that could affect the future of XRP. At the center of it all is the lawsuit filed by the Securities and Exchange Commission (SEC) against Ripple and its top executives, accusing them of selling XRP as an unregistered token, thus breaching the Securities Act. The two sides have submitted their final submissions towards the end of 2022, and now the world awaits the court’s ruling with bated breath. A key factor in the case will be the Hinman documents and emails stating Ethereum was not a security. Legal experts like John Deaton are of the opinion that the case is more likely to go to trial than to be settled.
Whales have also been paying close attention to the XRP. According to Santiment, large-volume investors, popularly referred to as whales, have since November put all their weight into XRP. This could be seen as a bullish sign for the future of the token, as these whales have the financial resources to make major moves in the market.
Overall, the future of XRP still remains uncertain. The current price of XRP is within the buy zone and analysts have been recommending it as a good bargain. Whales have also been scooping up XRP, which could be seen as a bullish sign for the token’s price. However, the SEC lawsuit remains a major hurdle that could impede the future of XRP. We will just have to wait and see what happens when the court delivers its ruling.