XRP is one of the only cryptocurrencies, after Bitcoin and Ethereum, to receive legal clarity in a lawsuit ruling. Despite attaining the status of a n
The legal clarity on the status of these digital assets has fueled bullish sentiment among the crypto community of holders and acted as a bullish catalyst for asset prices. However, in the case of XRP, the price gains were wiped out soon enough with developments in the lawsuit and other macroeconomic developments in the economy.
This chart from on-chain intelligence tracker Santiment shows the state of whale holdings over the past two months.Lockridge Okoth, a technical analyst at, analyzed the XRP price chart and noted that the altcoin needs to break its tether to the 200-day EMA at $0.5251 to make the next move. Since August 18, XRP price has been in a state of consolidation, and there is a probability of dipping into the demand zone between $0.5040 and $0.4600.
While the judge ruled that programmatic sales aren’t considered securities, sales of XRP tokens to institutional investors are indeed investment contracts. In this last case, Ripple did breach the US securities law and will need to keep litigating over the around $729 million it received under written contracts.The ruling offers a partial win for both Ripple and the SEC, depending on what one looks at.
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