Following the development of the lawsuit between Ripple Labs and the Securities and Exchange Commission (SEC), the average opinion is that the issue will reach a decision soon.
At the same time, technical analyst Ali Martinez described XRP as able to provide profit to its investors based on observations of the 30D Market Value to Realized Value (MVRV) index.
According to Martinez, the index has declined to -0.91% recently. For the record, every time the MVRV reaches 0%, it is a sign to add more XRP assets.
XRP whales were also seen collecting the assets. This can be ascertained with Santiment data revealing the addresses of wallets owning over 10 million XRP tokens have increased by around 4.90%, including as many as nearly 15 new whales have joined the network over the past week.
The opposite happened when the SEC announced a lawsuit against Ripple’s founders, wallets that owned 10 million XRPs were depleted along with XRP whales ’addresses, about 18 addresses.
Recently also XRP caught the attention of the crypto community with the trending #RelistXRP on the Twitter page, urging crypto exchanges to re-list XRP. It also shows the expectation of a spike in the price of the token.
Whether exchanges or crypto exchanges will list the crypto or not, it can be said that XRP prices are now in a ‘safe’ phase, almost driven by retail.
Maybe more interesting if XRP active investors are able to bring the price of XRP to a higher level, maybe around $ 1? Same as done with Dogecoin (DOGE).
At the time of writing, XRP is trading at $ 0.53, jumping over 9% in 24 hours.
