Introduction
It has been one thousand eight-hundred and fifty five days since the last XRP all time high. Saying that XRP investors and speculators are long over-due for the next all time high would be an understatement. Mysteriously enough, in the recent cryptocurrency bull run many of top blue chip digital assets were able to beat their previous all time highs’ by at least 300% for example, Bitcoin and Ethereum, which share a similar lifetime duration as XRP. Prior to the Ethereum ICO XRP was the 2nd largest cryptocurrency in the world. By fair means or foul, some force(s) in the market restrained XRP from breaking the $3.30 level. Is this manipulation, or rather a repeat of XRP’s origin cycle? Was never making a new all time high in 2020 simply just meant to be? Let’s take a deep dive into why we have every indicator we need to assume price discovery for XRP in 2023.
Fundamental Analysis “In The Moment”
Let’s begin with what the cryptocurrency world is focused on the most regarding XRP. Simply put, the Ripple v. SEC lawsuit. This is the most considerable pending catalyst for XRP price that has speculators keeping their eyes peeled for the latest news from the lawsuit. A loss for Ripple would likely send XRP price back down to macro demand ranges of $0.15-$0.20. A win for Ripple would more than likely (IG Bank in London agrees with this) cause a dramatic rise in the price of XRP. Another possibility is that the district judge sends the case to trial, which would therefore delay our catalyst that we need for XRP. Multiple lawyers have confirmed that everything in the Ripple v. SEC lawsuit is briefed and filed and we are simply waiting for a decision from the district judge.
The pending litigation between Ripple and the Securities and Exchange Commission is not only detrimental to the future of Ripple in the United States, but also the entire cryptocurrency space. Coinbase, who has historically not been very fond of Ripple and XRP in the past, filed an amicus brief in support of Ripple in the lawsuit since it became quite obvious that the Ripple v SEC lawsuit would set an example for future cryptocurrency regulation in the United States. Keep in mind Coinbase was the first cryptocurrency exchange to de-list XRP after the SEC initiated their lawsuit, even when the SEC never told Coinbase to de-list XRP. Prior to suing Ripple, the SEC has not necessarily gone after any “blue chip” cryptocurrencies, they primarily focused on smaller ICO projects that they could easily intimidate into multi-million dollar settlements in exchange for “non-security status”. Ripple is the SEC’s first attempt at suing a billion dollar cryptocurrency company that came prepared with a team 21+ lawyers, including a former SEC Chairwoman. This is why even investors that do not hold XRP, are favoring a victory in the lawsuit rather than a defeat. A loss for Ripple would be a loss for all of crypto.
Just before the SEC came after Ripple in December 2020 they had completed a private investor funding round known as Series C. Typically speaking, companies that complete the Series C funding round are ripe and ready to go for an Initial Public Offering (IPO).
What is Series C funding round?
“Companies that make it to the Series C funding stage are doing very well and are ready to expand to new markets, acquire other businesses, or develop new products. Commonly, Series C Funding round companies are looking to take their product out of their home country and reach an international market. They may also be looking to increase their valuation before going for an Initial public offering or acquisition”
Prior to the SEC litigation, Ripple was ready to pull the trigger, increase their stock valuation and take the company public and grow their corporation into new markets. The plans for IPO were verbalized publicly by Ripple and one of their biggest investors, SBI, long before the lawsuit came to fruition. Since the SEC decided to put that on hold, Ripple must reach a final decision in the lawsuit before moving forward with the IPO. Even during the lawsuit Ripple CEO Brad Garlinghouse stated publicly that when the SEC lawsuit is over they will be moving forward for the IPO in a CNBC interview.
“DAVOS, Switzerland — Ripple will explore the possibility of an initial public offering once its lawsuit with the U.S. Securities and Exchange Commission has ended, CEO Brad Garlinghouse told CNBC.”
These are the two biggest catalysts that could support the XRP price and help propel it forward when it decides to break the technicals if the timing is correct, moreover these two catalysts directly relate to each other in succession. However, as we know, these are not the only strong fundamentals for Ripple and XRP, this is just what people are focusing on currently.
General Fundamentals
During the course of lawsuit, Ripple has not put a pause on Ripple and XRP network growth. Here is a rapid fire of information that Ripple has released in the last year alone before we get into the macro analysis on the XRP charts.
–Ripple has recently stated that more than half of ‘ALL’ volume on RippleNet is done so through XRP.
-“Q2 2022 was a record quarter for On-Demand Liquidity as volume grew considerably with over 9x YoY growth” –Ripple Quarterly Markets Report.
-Ripple announced that they were helping build CBDC’s for central banks on an XRP private ledger.
–Montenegro central bank gets added to the dozens of central banks already working with Ripple to build CBDC’s and/or leverage XRP.
-Ripple co-founder Jed Mcaleb is no longer open market selling XRP everyday, he does not have any XRP left to sell.
-Ripple goes on marketing mayhem on New York metro, London Metro, and mainstream financial magazines “Crypto Means Business”.
–Ripple expands into Africa through MFS Africa.
-Ripple names Monica Long as the new president of Ripple.
-Ripple verbalizes that 90% of central banks around the world pursuing CBDC projects, they are aware of this metric because they are working with many of them and have managers, vice presidents, and teams specifically for engaging with central banks.
-Former 43rd Treasurer of The United States, Rosie Rios, joins the Ripple board of directors (Her name is literally signed on our money).
-Ripple joins the Digital Pound Foundation
XRP Technical Analysis
Every few years XRP consistently becomes explosive and erupts, we are long overdue for what XRP investors has been waiting for…
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