XRP (XRP) has been hit with lots of negativity in the last few months, with regards to its connection to ripple the company. This has seen it drop below $0.50. However, it seems to have stabilized around $0.44 – $0.45. At this point, XRP seems to have become unresponsive to the SEC possibly declaring it a security.
Looking at online sentiment (a measure of what people are thinking of a given crypto), XRP has a much higher positive sentiment than bitcoin (BTC), despite bitcoin having the CBOE ETF news coming up. This can only mean one thing, XRP (XRP) has most likely bottomed-out. The price has reached a point where many investors now view it as an opportunity to buy, irrespective of the news that might be coming up.
There are a number of factors have contributed to this stability. The first one is the strategic moves that ripple has made to reduce the possibility of XRP being declared a security. Recently, XRP was rebranded from ripple (XRP) to XRP (XRP). Ripple has also been very active on social media, explaining the difference between ripple labs and XRP (XRP).
On top of that, Ripple has recently added new non-ripple validators, which pretty much eliminates their power to control the direction of XRP (XRP). With these moves, XRP (XRP) is now as decentralized as any other decentralized cryptocurrency out there. The price stability at around $0.45 is an indicator that investors are taking note of these moves, and are getting more confident that XRP will not be declared a security.
The increased adoption of XRP (XRP) in Asia is also most likely giving investors’ confidence in XRP (XRP) as an investment. Even with all the uncertainty surrounding XRP (XRP), Asia and parts of Europe seem to be going all big on it. One example of XRP (XRP) growing influence in Asia is Japan. The country has pretty much adopted XRP through SBI, which is huge, in the Japanese banking industry.
India is another country where XRP (XRP) seems to be gaining traction. India aims to fully transition into a digital economy, as a way of killing off the black economy. And at this point, a good percentage of the population use digital means for everyday payments. With ripple already in partnership with India’s biggest banks and telecom companies, investors are increasingly confident that XRP (XRP) will take over this market.
If indeed Ripple’s XRP (XRP) has stabilized at $0.44 – $0.45, then chances are that big investors could be accumulating on it at this price, as they await the SEC decision. The day the announcement is made could easily see XRP (XRP) break above $1 in under a day. That’s because there are lots of investors who believe that XRP (XRP) has good potential in the market, but are afraid of the SEC decision. The moment they FOMO in, the growth of XRP will be exponential. A smart investor would be watching XRP (XRP) closely at the $0.40 – $0.50 price range.