XRP Spikes to 4-Month ATH in Crypto Bear Market by idiosyncratic1

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hive-167922 · @idiosyncratic1 · Sep 22 '22

$6.73

XRP Spikes to 4-Month ATH in Crypto Bear Market

Being the sixth cryptocurrency with the highest market cap, XRP by Ripple is designed to initiate **B2B transactions** (Bank to Bank) rather than the common P2P (Peer-to-peer) system of the majority of cryptocurrencies.

![reasons why xrp pump.png](https://images.hive.blog/DQmb1XGuhSjKY1gcwaAHMRpNr5kaBWBZFS8u6wJb8iFN93Y/reasons%20why%20xrp%20pump.png)

XRP has always been the **different** guy in the crypto ecosystem. The cryptocurrency is fully centralized, and controlled by Ripple; the cryptocurrency is created for Bank to bank interactions which are against the vision of crypto and it diverges from the market quite often in terms of price actions.

While crypto ecosystem suffers, XRP gained 46% in 7 days. Let's see the reasons behind it.

### SEC Lawsuit is about to end
There has been a lawsuit between SEC and Ripple over the classification of XRP as a security or not! According to [the latest news by procoinnews](https://procoinnews.com/xrp-lawsuit-ripple-case-heads-closer-to-conclusion-as-summary-judgement-is-filed/?utm_source=), the Congress owns enough proof to have a final decision on it.


What's being put forward by Ripple is that: 
> there were **no contractual obligations** between the company and the owners of XRP tokens.
Because of this, **the SEC has no reason to make its claim that XRP is security** and that the SEC’s claim is basically like an open-ended assertion of jurisdiction without any real evidence.

**The market is buying the rumor** as far as I see. Ripple, after a long journey, is closer to succeeding against the SEC. When it takes place, XRP is likely to gain more value as a result of the lawsuit.

### Whales Detected!
[Coingape](https://coingape.com/these-can-be-reason-behind-spike-xrp-token-prices/) stated that there is an interest in the crypto market by whales for some reasons. It seems like whales are collecting cheap XRP tokens from the bottom 😉

> more than 451 million XRP tokens have been moved to multiple unknown wallets in the past 24 hours. The total purchase is worth around $173 million.

In crypto ecosystem, XRP and XLM always had a different cycle for themselves when the bull-run comes. If we compare the situation with today's crypto market, I can clearly see that some people are buying an important even in the side of XRP! 

According to [business2community](https://www.business2community.com/crypto-news/3-reasons-xrp-price-has-been-pumping-this-week-and-could-explode-02551540), the latest partnership with Remit may also be an affective factor in the upwards moves of XRP price.

> Ripple’s “on-demand liquidity” (ODL) will be used to improve I-Remit’s internal treasury management to enhance cross-border flows.

So basically, there seem to be 2 narratives for XRP to diverge from the negative atmosphere in crypto and spike in terms of value. I do not have any XRP in my crypto bag but I may also add some XRP to my **bull-run portfolio**. 

Considering the bottom levels of cryptocurrencies compared to Bitcoin's local low areas, I believe XRP is still undervalued. Hope to see good days for all cryptocurrencies ✌🏼

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@idiosyncratic1/xrp-spikes-to-4-month-ath-in-crypto-bear-market)

👍 newhope, hodlcommunity, niallon11, liotes.voter, ph1102, achim03, vlemon, howzat, damla, drax, jskitty, muratkbesiroglu, crabank, tomiscurious, anadolu, dcityrewards, cryptothesis, edkarnie, solairitas, mistakili, anomadsoul, jmsansan.leo, omonomo, seckorama, curx, doitvoluntarily, exyle, pixelfan, gadrian, dcrops, improv, investing-dude, russellstockley, reazuliqbal, filotasriza3, felander, steem.services, moretea, imfarhad, eliel, iansart, solairibot, dlike, forexbrokr, steem-holder, cranium, pixiepost, defi.campus, codingdefined, privex, techken, forykw, rcaine, untzuntzuntz, l337m45732, dknkyz, mypathtofire2, apokruphos, fatman, aotearoa, gerber, mikitaly, nfter, crypto-guides, and 127 others

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@forexbrokr · Sep 24 '22

$0.03

RE: XRP Spikes to 4-Month ATH in Crypto Bear Market

I'm just happy that [Ripple vs the SEC](https://leofinance.io/@forexbrokr/ripple-vs-the-sec-will-ripple-xrp-win-their-lawsuit) is finally coming to an end.

No matter the outcome, Ripple is going to survive so just get on with it.

The SEC should be embarrassed.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@forexbrokr/re-idiosyncratic1-6pruvw)

👍 idiosyncratic1

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@idiosyncratic1 · Sep 24 '22

It seems like Ripple is about to win. Positive for crypto IMHO ^^

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@iniobong3emm · Sep 23 '22 (edited)

$0.03

RE: RE: XRP Spikes to 4-Month ATH in Crypto Bear Market

Sure, I won't doubt your opinion because I just made an analysis of xrp and Leo though they seem to have a weak correlation and somewhat value with little difference even when using an estimated model. That's on my blog

https://leofinance.io/@iniobong3emm/using-ripple-price-xrp-to-predict-for-leo-wleo-price
Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@iniobong3emm/re-idiosyncratic1-4pxwgx)

👍 idiosyncratic1

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@idiosyncratic1 · Sep 23 '22

Thanks for informing mate, so interesting that a correlation is possible among two different types of projects :)

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@muratkbesiroglu · Sep 23 '22

$0.03

RE: XRP Spikes to 4-Month ATH in Crypto Bear Market

XRP is a marketing miracle. The owners became billionaires thanks to the dream of corporate adaptation, which will take place in an uncertain future.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@muratkbesiroglu/re-idiosyncratic1-4bfwpf)

👍 idiosyncratic1

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@idiosyncratic1 · Sep 23 '22

Interestingly XRP has a devoted community though it moves like a stablecoin for the majority of the time 😅 Btw, Akbank has an option to use Ripple infrastructure, as well. This project is really mind-blowing, can't place it to a suitable position in my mind ^^

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@ph1102 · Sep 23 '22

From the moment that the XRP was created, I couldn't understand why it is listed on CMC at all. :) It's not a cryptocurrency per-se, it's not a blockchain, and it's not decentralized at all... On the other side, it's interesting to see the drama with the SEC lawsuit, which could help other cryptocurrencies in the future... 


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@poshtoken · Sep 22 '22

$0.02

https://twitter.com/idiosyncratic1_/status/1573076239262547968
<sub> The rewards earned on this comment will go directly to the people( @idiosyncratic1 ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.</sub>

👍 acidyo

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acidyo	0 B		73,164,777,937	1%

@yeckingo1 · Sep 23 '22

Who knows, maybe with XRP by Ripple the comeback of the market will come. It's what everyone is wanting. Whales are smart they buy when the market is bearish.

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