XRP Price Suppression Over: Zach Rector, a prominent figure within the XRP community, recently declared that XRP’s price suppression has ended, paving the way for a potential price surge. Rector shared his bold assertion on the social media platform X after observing XRP’s price stability following the U.S. Securities and Exchange Commission’s (SEC) latest legal actions. He emphasized that XRP’s relatively steady performance signals that the token is no longer being held back and could be poised for significant growth.
Price Stability Amid Legal Developments
On Friday, XRP held its ground at around $0.54, even after the SEC formally filed an appeal with the court. This stability is notable compared to previous SEC-related news, which often caused sharp price drops. XRP’s price showed no substantial reaction to the SEC’s appeal, marking a significant shift from historical patterns.
- Key Observation: Despite intense discussion within the XRP community and the ongoing legal battle, XRP maintained a steady price point. As of press time, XRP continues to hover around $0.54 with no significant fluctuations.
Historical Performance: XRP’s Reaction to SEC Actions
XRP has a history of reacting dramatically to SEC actions. On October 2, XRP reached a peak of $0.6058 before plummeting to $0.5101 by October 3 following news of the SEC’s appeal. However, by October 4, XRP began to recover, despite the SEC taking further steps to escalate its case against Ripple to the Second Circuit Court.
The most significant crash occurred in December 2020, when the SEC first filed its lawsuit against Ripple. During this period:
- December 20, 2020: XRP was trading at $0.5678.
- December 23, 2020: XRP plummeted by 61% to $0.2214.
- As exchanges delisted XRP, its price fell further to $0.1748 by the end of December, representing a total drop of 70%.
The end of XRP’s price suppression?
According to Zach Rector, XRP’s resilience during the latest legal developments marks the end of its price suppression. Unlike previous instances where SEC news triggered sharp price drops, XRP’s stability suggests that the token may be ready to participate in the broader cryptocurrency market’s potential bull run.
- Legal Clarity: One critical factor bolstering Rector’s claim is the legal clarity surrounding XRP’s status. The SEC is not appealing the court’s ruling that XRP is not a security, which was a major point of contention in previous cases. This clarity removes one of the primary obstacles that had previously hindered XRP’s growth.
Rector confidently stated, “No more excuses; it is time for XRP to shine.”
Expert Opinions and Market Insights
Several market analysts share Rector’s optimism, noting that XRP is well-positioned to capitalize on the next bullish cycle. The combination of regulatory clarity and renewed market confidence could see XRP gain momentum in the coming months.
However, as with any investment, potential investors should remain cautious. The cryptocurrency market is notoriously volatile, and unforeseen developments could still impact XRP’s price trajectory.
Conclusion:
Zach Rector’s assertion that XRP’s price suppression is over could signal a turning point for the cryptocurrency. With legal clarity and a strong market position, XRP may be poised for a substantial upward movement. However, investors should stay informed and consider the risks before making any financial decisions.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.
