๐ฑ๐๐Why is XRP rising? The long silence was broken
#XRP , which remained silent for a long time and dropped to 0.38 days last week, draws attention with its rise. Cryptocurrency, which has gained 17 percent in value in the last 24 years, is also experiencing the biggest weekly rise of the last year. There is an increase of over 50 percent in transaction volume. Why is $XRP rising?
In the last few days, there have been some developments that can be considered both technical and fundamental reasons for the rise in XRP. As chart analyst Matt Hughes noted, XRP is currently experiencing one of the Bollinger Band relaxations among all cryptocurrencies on the market. Technically, such loosenings mean that a major price move may be imminent.
XRP has one of the tightest monthly Bollinger Band squeezes in its history and currently of all cryptocurrencies. Last time it was squeezed like this it was up 60,000%
โ Big Mattsby (@matthughes13) July 11, 2024
The price movement in XRP coincided with an important anniversary and was meaningful in this respect. Today marked Ripple's first year-long legal victory against the US Securities and Exchange Commission (SEC). On July 13, 2023, the court ruled that sales of XRP on exchanges, as well as sales made by its executives and offers made by developers, charities and employees, also contained material value.
After a year has passed since the XRP decision, it is now thought that an agreement between the conflicts or the full outcome of the court is very close. A claim based entirely on this issue was also effective in the rise of XRP.
It has been claimed that there is a high potential to discuss the Ripple agreement at the closed meeting to be held at the SEC building in Washington next Thursday. Posts about this are floating around social feeds. The SEC reduced the $2 billion investment penalty from Ripple to 102 million due to the growing moon. Ripple offers to pay $10 million to the SEC.
