XRP Looks Ready for Big Move, Here Might Be Potential Catalysts
Former congressional candidate and founder of Gokhshtein Media, David Gokhshtein, has once again expressed optimism about Ripple winning the SEC lawsuit.
He bases his belief in Ripple’s victory over the SEC on two factors: first, the clarity it brings to the crypto industry; and second, the XRP community that fought hard and stood its ground is rewarded.
In the past week, the XRP price rose nearly 12% amid speculation of a settlement in the Ripple SEC lawsuit.
In previous tweets, the crypto influencer stated that Ripple needed to win the case against the SEC because, in this scenario, not only will the XRP price go parabolic and Ripple receive a significant boost, but every legitimate platform will also take off.
The expectations of the Gokhshtein Media founder were echoed similarly by members of the XRP community. A user, @coffeeocalypse, believes the XRP price is primed for a major move irrespective of what happens in the lawsuit.
He cites technical factors as a potential catalyst for this: “Charts look really good. Higher lows breaking out of several structures, retesting, retaking, or breaking out of moving averages.”
Good analysis. Too many people think XRP price it is just about the lawsuit and I think you mean the court excluding secondary market sales. The SEC hasn’t given up on saying all sales are securities.. https://t.co/YrcbeFQCpV
— bill morgan (@Belisarius2020) November 25, 2022
Bill Morgan, a crypto enthusiast and lawyer, also believes that the XRP price action is not confined to what happens in the lawsuit.
As both parties prepare to submit their reply briefs in response to summary judgment motions in the lawsuit, everything seems quiet.
Amid the relative quietness as regards the lawsuit, XRP was a top gainer among the top 10 cryptocurrencies early on Friday.
Irrespective of how events unfold, the XRP value proposition has stayed constant. XRP has weathered the storms and remained a top-ten cryptocurrency over the last 10 years, according to CryptoLaw founder John Deaton — a feat several cryptocurrencies have been unable to sustain.
At the time of publication, XRP was trading at $0.40 and ranked as the seventh largest cryptocurrency.
