Assessing whether you should be worried about XRP’s long-term price


the endless Ripple-SEC Lawsuit could have a potential deadline. in a presentation related To its pending class action lawsuit, dated February 23, 2022, Ripple allegedly agreed to a new date of November 18, 2022. Rather, the date, as written in the report, was August 26, 2022. Unfortunately, that’s not all.

In addition to that news, there are reports that both XRP bulls and SEC pundits expect Ripple to emerge victorious. Such speculation was further fueled after the SEC reportedly remote the case/demand of your website.

Who needs XRP?

Despite Ripple gaining significant traction of late, for many, XRP has not reciprocated this momentum.

XRP and Ripple share a degree of interdependence. In fact, some believe that Ripple’s valuation is intrinsically tied to the market price of XRP. Still, a recent tweet storm expanded on why altcoin price action is the way it is.

A pseudonymous Twitter user, WrathofKahneman, highlighted the reasons behind XRP’s slow price action in a series of tweets. The analyst opined that the demand for XRP is not strong enough (yet). Ripple, on the other hand, could obtain the liquidity cheaply and integrate it.

Ripple On-Demand Liquidity (ODL) allows customers to instantly move money around the world at any time, including weekends and holidays. In fact, ODL transactions in the third quarter of 2021 accounted for for 25% of the total volume in dollars through the network. However,

“ODL doesn’t drive the price up much, as each buy side has a sell side. (ignoring LOC). But it’s powerful in the long run to get XRP moving in higher volume and corridors, increasing utility and appeal.”

The growth of XRP, the analyst added, has been considered adequate in the long term. It captures as much global value as possible, as it remains an integrated part of the global financial system. Ergo, the price of XRP, despite consolidating just below the $1 mark, is not a concern, he stated.

According to him, in the long term, XRP would rise as global transactions continue to accelerate.

Needless to say, there are not many incentives for retail XRP traders at the moment. Also, understandably, there are many prejudices against it. However, in the short term, the following may be good signs to watch out for:

This is what traders should really be looking at

XRP registered a significant increase in ‘Institutional Capital Flows’ ($0.9M) thanks to recent geopolitical tensions. In fact, this was the first time it had seen a positive monthly return since October.

XRP price grew 20.2% in February to $0.75, reaching a fully diluted market cap of $64.1 billion by the end of the month. Monthly volumes in USD pink by 32.6% to $2.43 billion, while 30-day volatility nearly doubled from 65.2% to 119%. On-chain activity dipped slightly as monthly transactions fell 1.28% to $50.9 million.

Furthermore, in February, XRP remained the blockchain with the higher volume of transactions, according to the CryptoCompare report. It recorded around $50.9 million of transactions during the month.

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Source: CryptoCompare

The timing of these findings is interesting. Especially since XRP whales moved large amounts of crypto between private wallets. This ascended to around 78 million XRP, worth over $55 million.