Ripple's XRP is showing bullish signals despite the ongoing lawsuit uncertainty. On-chain data appears to suggest that, although social media perception surrounding the asset is negative, a prime buying opportunity is present. Unconfirmed reports have revealed a 300% increase in XRP investment over the past few weeks. This is supported by Market Value to Realized Value data which points towards a possible 6% growth before holders start taking profit en masse. If successful, XRP could reach the 38% profit level of $0.63 before investors begin selling. There is also the possibility that bears could take control over the asset, potentially driving XRP to the 4% loss region of $0.44, however this appears unlikely at this time. Investors should remain keely aware of the underlying lawsuit situation, however, given the current on-chain data, XRP looks set to make further gains in the upcoming weeks.
Jayden Bennet
- 2023-03-31
XRP Showing Bullish Signs Despite Lawsuit Uncertainty
On-chain data suggests that XRP could reach the 38% profit level of $0.63 before investors begin taking profit. Unconfirmed reports have revealed a 3-fold increase in XRP investment over the past few weeks, however investors should remain aware of the lawsuit situation as the asset could also dip to 4% loss.
