On Monday morning, the price of Ripple (XRP) surpassed the $0.68 mark, so resulting in a significant increase in its gains for the month of November, reaching a double-digit percentage. The field of on-chain analysis investigates the primary factors contributing to the current upward trend in prices.
During the preceding fortnight, a group of prominent individuals with substantial holdings of cryptocurrency, sometimes referred to as "crypto whales," have been observed engaging in vigorous purchasing activities of XRP. With the approach of the 2023 edition of the Ripple Swell event, one could contemplate whether this presents an opportune moment to acquire XRP.
According to recent reports, a substantial influx of capital up to $850 million has been invested by prominent investors in Ripple, a digital currency, within a span of two weeks.
The price of XRP has experienced a significant surge in the beginning of November 2023, resulting in a notable increase of 13% for the initial week. The utilization of on-chain data has provided insights into the significant role played by optimistic trading activity among large-scale cryptocurrency investors in driving this market rise.
Based on the data provided by Santiment, it has been seen that significant investors, possessing a range of 100,000 to 1 billion XRP coins, have engaged in assertive purchasing activities throughout the preceding week. The provided data illustrates the surge in XRP price that started on October 24, coinciding with the initiation of significant purchases by influential market participants known as whales.

During the period spanning from October 24 to November 6, a substantial amount of 1.26 billion XRP was procured by the whales, resulting in a notable increase in their cumulative balances, reaching a new peak for the year 2023.
At the prevailing market price of $0.68, the recently obtained 1.26 billion XRP holds an approximate value of $850 million. The recent purchase of a significant magnitude within a fortnight has resulted in an increase in demand for XRP, causing the price to surpass the crucial resistance level of $0.65. $XRP
With the whales' balances reaching their highest point in 2023, it is possible that more strategic retail investors may be persuaded to assume long positions during this week. This has the potential to drive the price of XRP towards the $0.70 threshold.

The Ripple Swell event has the potential to amplify the positive market sentiment.
Ripple has been designated as the host for the next "Swell" conference, a significant event in the realm of digital assets, which is due to take place in Dubai in the following week. The exclusive event, spanning two days, will include keynote addresses and discussions with prominent figures from the global industry, regulatory bodies, and pioneers in the field of blockchain technology and decentralized banking.
In anticipation of the upcoming Ripple "Swell" event, there has been a notable surge in media attention around XRP. Based on the analysis conducted by Santiment, it has been seen that the XRP Social Dominance metric has exhibited a notable surge, rising from 1.3% to 4% over a span of just three days.
The Social Dominance statistic quantifies the relative market share of a cryptocurrency by comparing its percentage representation among the 50 most discussed projects across various crypto media platforms. The occurrence of heightened Social Dominance during a rise is indicative of market exuberance, which frequently precedes significant price reversal.
Nevertheless, given the impending Ripple Swell event scheduled for November 8-9, it is probable that investors will exercise caution and refrain from engaging in significant selling activities. Strategic investors frequently possess foresight regarding significant product announcements or alliances preceding large conferences, a factor that may incite price fluctuations.
It is anticipated that the increasing demand for whales and optimistic projections regarding XRP may perhaps result in a price surge towards $0.70 in the foreseeable future.
Price Forecast for XRP : Potential Upside if $0.70 Level is Regained
After surpassing the $0.65 mark, the XRP price is presently encountering little obstacles as it progresses towards the $0.70 threshold. Despite the substantial increase in value observed over the previous week, the Parabolic SAR (Stop and Reverse) data indicates the potential for a sustained bullish trend.
The Parabolic Stop and Reverse (SAR) indicator is utilized to detect possible inflection points within a continuous price trajectory. As of November 6th, the Parabolic SAR indicator dots for XRP indicate a value of $0.59, which is notably lower than the prevailing price of $0.68. The observed alignment serves as a conspicuous indicator that the bullish trend continues to exhibit growth.

However, in the event that the bears take advantage of XRP 's overbought condition, they may endeavor to induce a downward movement below the price level of $0.55. Nevertheless, it is anticipated that the resistance posed by the buy wall in the vicinity of $0.59 would be formidable.
#BullRun #RippleXRP #XRPPriceTargets

In 2023, XRP was helped out by Ripple's historic partial victory over the US Securities and Exchange Commission.
In 2024, the cryptocurrency might see gains due to Ripple's possible initial public offering (IPO), Bitcoin's halving, and increasing institutional usage of XRP.
In 2024, the price of XRP might rise in tandem with Bitcoin, breaking beyond the $1 psychological barrier.
An ongoing drama for the cryptocurrency market from 2020, the verdict of the US Securities and Exchange Commission (SEC) case against Ripple was the primary factor influencing the price behavior of XRP in 2023. Judge Analisa Torres's ruling in July that Ripple's token was not a security when sold to the public on an exchange was a watershed event for XRP, sending the altcoin's value soaring to a high of $0.94.
Even if the price surge was temporary, the verdict (which isn't final and may be appealed) provided support to other crypto-related enterprises who are suing the US markets regulator, dealing a blow to the SEC's attempt to control crypto markets.
For XRP in 2024, the SEC vs. Ripple lawsuit's additional developments will be crucial. Additionally noteworthy is the wider crypto agenda, which includes factors such as the anticipated approval of a Bitcoin Spot Exchange-Traded Fund (ETF) and the increasing cash flowing into crypto funds. Some experts have speculated that, in a best-case scenario, the XRP token price may rise over the $1 psychological barrier, and a possible Initial Public Offering (IPO) from Ripple would further stimulate a price recovery.
If you liked this, you may also like: XRP price stays above $0.60 as SEC cannot avoid securities laws thanks to Ripple plan.
How the XRP price does in the year 2023
Since January 1st, when it was $0.3347, the price of XRP has risen by more than 85%, reaching $0.6203 on December 17th. The trajectory of Bitcoin's price, changes in US crypto regulation, and the SEC vs. Ripple case all play significant roles in determining the altcoin's value. Data from Macroaxis shows that there is a strong correlation between the prices of XRP and Bitcoin, with a value of up to 0.88.
For most of the first half of 2018, the price of XRP was affected by the ongoing legal dispute with the SEC. With its removal from security status in secondary market sales—transactions on cryptocurrency exchanges—XRP was a huge relief to altcoin investors according to the verdict on July 13.
In the aftermath of the judgment, Ripple and XRP had a string of successes, with Judge Torres denying the regulator's appeal and the SEC dropping its case against Ripple executives. The XRP price soared beyond the $0.60 mark, thanks to the little victories.
Crucial elements of the SEC vs. Ripple case
In 2013, the cross-border financial remittance startup Ripple generated approximately $1.3 billion through the unregistered sale of XRP securities, according to the US Securities and Exchange Commission (SEC). After Ripple fought back against the SEC's claims, Judge Analisa Torres ruled that XRP, when offered to traders on exchange systems, was not a security. Nonetheless, the asset may have been marketed to institutional investors as a security, as disclosed by the verdict on July 13.
The decision sent shockwaves across the XRP community, and the altcoin's value surged the next day. After the judgment, the cryptocurrency reached its 2023 top at $0.94.
By 2024, two major points in the SEC vs. Ripple case will have established a standard:
The decision of Judge Torres to reject the SEC's appeal
The motion for an interlocutory appeal was refused by the presiding court in the SEC vs. Ripple action. Since the SEC had intended to contest Judge Torres' ruling on the secondary sales of XRP, which the judge rejected, this is a watershed moment in the ongoing legal dispute between Ripple and the SEC.
So, until the ultimate verdict in the SEC vs. Ripple litigation is announced—which may yet take years—XRP is considered a "non-security" in secondary market dealings.
the rejection of the SEC's case against the executives of Ripple
The two defendants, Brad Garlinghouse and Chris Larsen, were both dropped from the regulator's action. The remedies for allegations related to XRP's institutional sales remain unclear, but the regulator's voluntary withdrawal of the action bodes well for a speedy summary judgment.
The Ripple case will proceed according to the timeline set by Judge Torres: February 12, 2024, for the conclusion of discovery pertaining to remedies (information exchange, pretrial).
March 13, 2024 is the deadline for remedy briefs.
April 12, 2024 is the deadline for defendants (Ripple) to submit their counterclaims.
May 29, 2024, as the deadline for the SEC's (the plaintiff) response
Attorney Fred Rispoli, who is well-respected in the crypto community for his opinions, has stated that the Second Circuit will not grant an appeal until the middle of 2026. With this decision, Judge Torres has provided regulatory clarity on XRP coins, solidifying her order from July 13. The decision of Judge Torres "will be ironclad for a very long time," according to Attorney Rispoli.
There are three primary drivers of XRP price increases in 2024.
Along with developments in the SEC vs. Ripple legal dispute, there are three key factors that might drive up the price of XRP: Ripple's possible IPO, Bitcoin's fourth halving event, and institutional capital flowing into XRP funds.
The X crypto community is of the opinion that Ripple would not publicly approve an IPO, but that one might be revealed in early 2024. We anticipate a positive influence on XRP price rises in response to any declaration surrounding this topic.
There is a 0.88 connection between XRP and Bitcoin. Since XRP has a strong relationship with Bitcoin, the biggest cryptocurrency by market cap, its price is expected to track Bitcoin's. Following Bitcoin's fourth halving event in April, which is generally anticipated by analysts, XRP's price may rise as well.

Another factor that might impact altcoins and XRP is the strong likelihood of the SEC approving the Spot Bitcoin ETF.
A report from CoinShares dated December 18 states that XRP funds have received $17 million in investments since the start of 2023. In 2023, XRP funds had a greater influx of capital than other altcoins, and the cryptocurrency has been receiving mainstream attention from institutions since the verdict on July 13.
Technical predictions for 2024: Will XRP have a breakout year in 2024?
The XRP dispute between Ripple and the SEC is expected to be resolved in 2024, making that year likely to be the XRP's heyday. If the SEC vs. Ripple lawsuit ends in a win for Ripple, the cryptocurrency holders' bullish prediction will come true, and the altcoin value will soar to new heights.
The cryptocurrency is expected to achieve even greater gains in 2024, after reaching a high of $0.94 in 2023. The price of XRP exhibited a symmetrical triangular pattern from March 2022 through December 2023, as seen in the following weekly chart. At present, the alternative currency is trying to break through the triangle's top edge. Based on this, a positive breakout towards $1.2413 seems probable.
The 50% Fibonacci retracement level of the price decrease of XRP from its April 2021 peak at $1.9659 to June 2021 low of $0.5167 is congruent with this bullish breakout goal from the symmetrical triangle.
Nevertheless, the bullish argument for XRP will likely be disproven if the weekly candlestick closes below $0.5167, the bottom threshold of the symmetrical triangle. The price of XRP, a cryptocurrency, may then fall even lower before finding support at its $0.2912 low in June 2022.

Summary
By the year 2024, the SEC vs. Ripple case will still be front and center in the minds of XRP holders. The asset's value will be affected by the outcome of the legal dispute, as well as other factors such as the US SEC's decision on a spot Bitcoin ETF early in the year and the upcoming Bitcoin halving in April 2024.
Stuart Alderoty, chief legal officer of Ripple, is putting a lot of money on 2024. Noting that the dispute impeded Ripple's expansion in the cryptocurrency ecosystem, Alderoty anticipates a victory in the litigation. If the case is successful, Ripple CLO believes it can help get crypto regulated more favorably in the US.
Many market participants are optimistic about the future of XRP funds, driven by the demand from institutional investors. With this backdrop, the XRP price is poised to break above the $1 psychological barrier and maintain its upward trajectory.
#BTC #XRPUpdate #RippleXRP

Attorney Rispoli said #Bitcoin and #XRP are the only large-cap tokens with legal clarity in the US, as the court ruled that #Ethereum (ETH) has no protection as non-security.

Read more on: https://thecryptobasic.com/2023/08/03/top-lawyer-says-xrp-only-altcoin-with-legal-clarity-in-us/

#RippleXRP #XRPArmy

After a hiatus from crypto futures perpetual trading, I'm excited to share my first trade back in the arena: long $XRP with 10x leverage.
Choosing XRP wasn't a random decision. Since May 2022, I've been closely observing a consistent pattern of higher lows forming on the XRP chart. This, coupled with occasional breakouts, suggests potential for upward momentum.
Entering the trade at 0.5415, the only thing left to do is wait. While leverage offers the potential for amplified gains, it also magnifies losses. Therefore, I've meticulously chosen my entry point and implemented strict risk management strategies. This includes setting clear stop-loss orders to mitigate potential downside risks.
Here's why I'm bullish on XRP:
Upward trend: The aforementioned pattern of higher lows since May 2022 indicates a potential bullish bias.
Breakout potential: Occasional breakouts suggest the price could surpass resistance levels, offering further upside potential.
Positive developments: Recent news and partnerships surrounding the Ripple ecosystem could fuel positive sentiment for XRP, like:
Growing Adoption: Ripple continues to forge partnerships with financial institutions worldwide, expanding the utility and reach of its RippleNet payment network. This increasing adoption could drive demand for XRP, as it fuels transactions on the network.Cross-Border Payments Focus: Regulatory bodies and financial institutions are increasingly focusing on streamlining cross-border payments. RippleNet's efficiency and cost-effectiveness in this area position XRP favorably to benefit from this growing demand.Central Bank Digital Currencies (CBDCs): The exploration of CBDCs by various governments presents an opportunity for Ripple. Its expertise in cross-border payments and digital asset infrastructure could position XRP as a potential bridge between traditional and digital currencies.Increased Utility: Beyond RippleNet, XRP is being explored for various other use cases, such as tokenization of assets and decentralized finance (DeFi). This broader utility could further increase its demand and value.

Important Disclaimers:
This is not financial advice. Please conduct your research before making any investment decisions.
Crypto trading is inherently risky, and leverage amplifies these risks. Only invest what you can afford to lose.
Implement proper risk management strategies, including stop-loss orders.
I'm eager to see how this trade unfolds and share my progress with the Binance Square community. Feel free to share your thoughts and insights on XRP or your own trading experiences in the comments below!

#Write2Earn‬
#RippleXRP
#TrendigTopic
#XRP🚀
#RippleNet