Ripple Getting Bullish, Positive Trends Point To A Solid Year For XRP

Christian Encila

1 year ago

2 mins read

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Today’s Ripple price analysis is rather cloudy, and analysts are expecting the market to reverse course near the $0.90 level.

After being dragged down from recent highs, the XRP/USD pair may be on the verge of a new bottom.

Ripple’s market value is increasing over the last several days, with the price of Ripple climbing to roughly $0.88 before sliding down to Friday’s $0.83 level.

Compared to Bitcoin, XRP is up 5.62% in the XRP/BTC trading pair for the day. Crypto analysts project that this is only the beginning of a long-term positive trend they expect to continue in the coming days.

In the meantime, the XRP/ETH trading pair is up 6.83%. After a recent surge in value, Ripple has recovered its place as the sixth-largest cryptocurrency globally.

XRP Seen To Regain Solid Grounds

XRP is now overtaking Cardano and Solana in market cap. The price of XRP is seen to return to the $1 mark over the next few weeks, market observers said.

The price of Ripple is seeing an upward trajectory as traders look for bargains in the current trend.

The market capitalization has grown recently and should continue to do so over the next few days.

XRP total market cap is at $38.87 billion in the daily chart | Source: TradingView.com

Optimism On Lawsuit Victory Causes Spike?

XRP is being (allegedly) marketed as an unregistered investment by Ripple, according to the U.S. Securities and Exchange Commission.

They believe that Ripple’s platform is not decentralized based on its involvement in financing the company.

XRP is rallying more than 30% in the last week following an order by a federal court judge in New York to open the documents.

There is a growing anticipation the sealed documents would show the crypto company received legal advice from an outside law firm stating XRP were not securities.

In 2020, the SEC sued Ripple, claiming that XRP is not a currency but a security, subject to stringent securities laws.

According to Reuters, U.S. District Judge Analisa Torres of Manhattan has ordered that the documents be unsealed on February 17.

Once made public, these papers will demonstrate that Ripple received legal advice in 2012 concluding that XRP was not an investment contract, Stuart Alderoty, Ripple General Counsel, disclosed.

In spite of XRP trading in a global market, it has taken the SEC eight years to suggest that they disagreed with that analysis, Alderoty points out.

Despite the lack of concrete results in the SEC vs. Ripple showdown, these events have nonetheless been a boom for XRP hodlers.

Therefore, the recent news is being interpreted as a fundamentally bullish event — and speculators are returning to XRP in droves.

Featured image from Global Crypto News, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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