XRP Price Hinge on Builders and Devs, ODL Transactions Stay Neutral

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Delve into the intricacies of On-Demand Liquidity (ODL) transactions and Ripple's promotional efforts to decipher their influence on XRP's market performance.

On-Demand Liquidity (ODL) transactions play a crucial role in the cryptocurrency market. ODL facilitates instant cross-border payments by using XRP as a bridge currency. These transactions are demand-neutral, meaning they involve the simultaneous purchase and sale of the exact amount of XRP, thus not directly impacting its price.

Ripple, a leading blockchain company, actively promotes its products, including ODL, as part of its business strategy. However, recent data analysis suggests that XRP purchasers do not rely solely on Ripple’s efforts for their investment decisions.

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Ripple Vs SEC: XRP price rises 4% with heavy buying in derivatives market ahead of Ripple's reply to the SEC's opposition to striking expert witness.Ripple vs.
SEC: XRP price on Thursday witnessed a 4% upside move defying the broader crypto market selloff.
The price increase is a surprise but welcome move by the XRP community. Ripple to file its reply is a key development for the lawsuit now after the SEC opposed Ripple’s motion to strike the declaration of Andrea Fox (Fox Declaration).
The SEC claims the Fox Declaration is a summary report on XRP institutional sales, not an expert report.
Also, the SEC argues it is permissible summary evidence under the law, similar to the Ferrante Declaration filed earlier.
However, Ripple will likely contest the inclusion of pecuniary harm from the declaration.

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XRP Perpetual Futures Open Interest (PFOI) has shot up significantly since March 24 to around $610 million at its peak.

Open interest refers to the number of open futures contracts traders hold at the end of a trading day. It is commonly used to gauge market sentiment and the strength underlying price moves.

Whereas perpetual futures are a form of derivative contract, with no expiration date, that is cash settled – as opposed to settled in the underlying asset.

XRP perps skyrocket

Analysis from the data platform Kaiko showed a spike in XRP PFOI.

Since the start of March, XRP PFOI had been holding relatively steady, at around $300 million. However, on March 22, a significant jump in PFOI occurred – spiking as high as $500 million.

Through to March 26, a downtrend followed. But as we entered this week, futures traders began piling in to lift XRP PFOI much higher – peaking at $610 million on Wednesday.

Further analysis from Kaiko showed spot XRP daily trading volume rising and falling in tandem with PFOI – with a monthly peak at around $2.5 billion on two occasions.

The chart below shows spot volumes being primarily driven by the Korean market.

SEC lawsuit drawing to a close?

In December 2020, the SEC filed charges against Ripple over allegations it had raised over $1.3 billion through the unregistered XRP token.

“the defendants failed to register their offers and sales of XRP or satisfy any exemption from registration, in violation of the registration provisions of the federal securities laws.”

Since then, both sides have stated their case, with many observers noting the fragility of the regulator’s arguments.

While many XRP advocates expect a favorable decision, Judge Torres has yet to give her final verdict.

Some in the XRP community expect the outcome to be delivered before March 31. However, there has been no official confirmation of this deadline.

It should be noted that this date was a predictive estimate from James Filan – a lawyer who has been monitoring this case.

The daily chart below shows anticipation of the case conclusion filtering into the spot price around March 22. Since then, XRP recorded 57% gains at its peak – to post a 46-week high.

#XRP #RIPPLE #Binance #crypto2023 #crypto

In 2024, the cryptocurrency market has been feeling pretty optimistic, with the total value of all cryptocurrencies together passing $2.5 trillion. XRP, in particular, has been picking up speed after a bit of a slow start earlier in the year.
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It’s gone up by more than 20% in the last month alone. Now, experts are sharing their thoughts on where they think XRP’s price might be by the end of 2024.

Expert Predictions for XRP Price in 2024
Finder Panel: A group of industry specialists at Finder hasn’t given a specific prediction for XRP’s price by December 2024. However, they’ve projected that XRP could reach $1.73 by December 2025. Their previous forecasts for the end of 2023 suggested a price of around $1.24 for XRP by the end of 2024.
Dark Defender: Dark Defender, a well-known crypto analyst, has forecasted a price of $2 for XRP by the end of 2024. This prediction is based on their analysis of the Relative Strength Index (RSI) for the Bitcoin-XRP trading pair on the weekly chart, aligning with levels observed before the 2017 and 2021 bull runs.

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EGRAG CRYPTO: Another popular crypto analyst, EGRAG CRYPTO, offers a more bullish outlook. According to their analysis, XRP could hit $2 in 2024. They’ve set targets of $3.3, $4.7, $7.5, $11, $15, and $27 before potentially reaching $107.3. They believe that opportunities to buy XRP below $1 will soon become rare.
XRP Price Movement and Expert Insights
At the moment, XRP is trading at $0.6247, showing a 4.34% increase in the last 24 hours. Recently, the digital asset experienced a drop, slipping below $0.6 as Bitcoin pulled back from its new all-time high. However, XRP has since recovered and is trending upwards.

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While the forecasts from experts provide valuable perspectives, it’s important to recognize that the cryptocurrency market is subject to unexpected shifts. Various factors beyond these predictions could influence XRP’s price in the upcoming months.
Also Read:   Shiba Inu Surges 700% Amid Increased Whale Activity
One significant factor is the ongoing legal dispute between Ripple and the United States Securities and Exchange Commission (SEC). A favorable resolution for Ripple in this lawsuit could boost investor confidence and potentially lead to a price surge for XRP.
Market sentiment also holds substantial sway, with broader market trends and the performance of major cryptocurrencies like Bitcoin exerting considerable influence on XRP’s price. Investors should remain vigilant of these external factors when evaluating XRP’s future trajectory.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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Crypto pundit Nietzbux recently explored the XRP price underperformance from two hypothetical scenarios relating to Ripple business operation.
In a detailed post on X, Nietzbux commented on the prevailing negative sentiment about XRP amid its underperformance in a bull market. He agreed that XRP’s current trajectory in this bullish cycle is disappointing. However, he highlighted potential positive and negative scenarios to provide insights into the state of the market.
Notably, Nietzbux speculated from the angle of Ripple’s business activities related to XRP. He argued that Ripple’s routine XRP sales constitute most of its business revenue. Additionally, he claimed that the utility Ripple has established for XRP plays a role in maintaining its price range between $0.50 and $0.60 during this bullish cycle.
Some thoughts on the low sentiment in XRP.I understand the low sentiment. I am personally less than thrilled with where we are at. But logically, there are a couple of options to consider. One is the negative route and the other the positive.What do we know? We know that…— nietzbux (@nietzbux) March 28, 2024
Negative Scenario: Ripple Exists Only to Dump XRP
Taking these assertions into account, Nietzbux proposed a theoretical scenario in which Ripple’s sole purpose is to sell the XRP tokens from its escrow. In this scenario, he argued that XRP would have no substantial utility, no significant impact on the financial landscape, and no bank adoption.
Meanwhile, the commentator reflected on the potential entities to whom Ripple sells XRP. He highlighted possibilities such as institutions, venture capitalists, financial service firms, and potentially banks.
He envisioned that these buyers merely secure juicy deals on XRP from Ripple and promptly sell it off for quick profits. In this portrayal, Nietzbux characterized Ripple as essentially a mechanism for selling XRP.
However, the commentator posed a critical question: “But does this make sense?” Nietzbux suggested it could only make sense for crypto critics who see the entire industry as corrupt. Explaining further, he attempted to compare Ripple with the collapsed FTX empire.
Likening Ripple to FTX
Nietzbux highlighted that FTX was run by a cohort of 10 young individuals, noting its fraudulent business could have been easily detected with minimal effort. Contrasting this, he emphasized that Ripple stands apart due to its extensive global presence, boasting 15 offices and a larger workforce compared to FTX.
Furthermore, Nietzbux highlighted Ripple’s ongoing recruitment efforts and the establishment of new positions and divisions within the company. Moreover, he stressed that Ripple survived a nearly three-year investigation without facing criminal charges beyond failing to register some sales with the SEC.
In contrast, FTX crumbled under the weight of initial rumors regarding its fraudulent activities, which ultimately proved true.
Essentially, Nietzbux sought to establish through this negative scenario that Ripple would make no efforts to expand and hire new employees, knowing it would not succeed at XRP adoption and utility.
For those who believe these actions could be a ploy to continue attracting investors to buy into a “dead coin,” Nietzbux acknowledges the plausibility. However, he countered this by highlighting that Ripple’s XRP buyers are institutions capable of conducting thorough due diligence with access to non-public documents.
He stressed that these institutions would not deal with Ripple if it were merely an XRP-selling machine. Nietzbux left readers to contemplate the question: “If your goal is to empty the escrow and walk away, is that really the best way to do it?”
The Positive Scenario: Ripple Has Something to Hide
In exploring the positive scenario, Nietzbux considered Ripple’s actions beyond simply selling XRP. He emphasized Ripple’s extensive presence within major international organizations such as the IMF.
Nietzbux speculated that the company’s partners would play integral roles in any new financial system, whether SWIFT or other large next-generation platforms for settlement and foreign exchange. He emphasized that Ripple’s software would likely be incorporated into these systems in some capacity.
In this optimistic scenario, Nietzbux envisioned a situation where XRP’s utility would stem from integration with these forthcoming platforms. As a result, he suggested that selling XRP emerged as a viable strategy among the options Ripple could pursue to fund expansion and facilitate growth.
According to him, the rationale behind this expansion would be Ripple’s anticipation of continued growth.
What It All Means
In essence, Nietzbux underscored the challenge of interpreting the actions of a company like Ripple. He highlighted the disillusionment experienced by many long-term XRP holders who have lost faith in both XRP and Ripple for justifiable reasons.
Nietzbux pointed out the anomaly of XRP’s performance compared to other cryptocurrencies that have achieved significant growth without positioning themselves as banking solutions.
Emphatically, Nietzbux observed that the retail market appears to have lost interest in XRP, and widespread adoption has yet to materialize for crypto. He concluded that the key lies in what Ripple knows but chooses not to disclose to the public.
Nietzbux submitted:
“Do they know they are going to fail at their adoption goals and are simply keeping up appearances while dumping on retail? Or do they know adoption is coming and simply can’t say, hence, their continued hiring and expansion? Time will tell.”
$XRP #XRP #RIPPLE

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Pro-XRP lawyer Bill Morgan recently slammed Elizabeth Warren in a post shared on X, spotlighting Coinbase CLO's SEC takedown.

STORY HIGHLIGHTS
Pro-XRP lawyer Bill Morgan Spotlights Coinbase CLO's post.Coinbase CLO rebukes the U.S. SEC concerning its lawsuit with Kraken.Morgan draws attention to Warren's anti-crypto stance, falling in line with that of the SEC's.
In a social media post shared on X today, March 1, pro-XRP lawyer Bill Morgan hammered Elizabeth Warren, a member of the Democratic Party, concerning her positive stance on the U.S. SEC’s overreach in crypto assets. While the SEC faces backlash globally, Morgan’s post specifically cracked down on Coinbase CLO Paul Grewal’s SEC rebuke regarding Kraken’s enforcement case.
We get it. The whole world is against the SEC’s overreach in crypto except a few people such as @ewarren with agendas and motives that are anything but a concern with consumer protection. https://t.co/vlYdQtezfi— bill morgan (@Belisarius2020) March 1, 2024

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Notably, the U.S. SEC sued Kraken, a renowned cryptocurrency exchange, on grounds of operating illegally, as of November 2023. In recent developments orbiting this legal chronicle, the state of Montana filed a rather remarkable amicus brief, contending that the regulatory body transgressed its authority, stepping into a jurisdiction that rightfully belonged to the states.
Coinbase CLO’s Remarks Mirrors Global SEC Critique Sentiment
According to Grewal’s post shared on X, the SEC’s so-called ‘ecosystem’ theory is unlawful and threatens the nation’s citizens. “States have a strong interest in preventing the potential preemption of consumer protection and other state laws by the SEC’s attempt to regulate crypto assets as securities,” Grewal stated, further criticizing the regulatory body’s ‘much-eyed ecosystem.’ Seven other states have joined Montana’s call for an amicus brief in the Kraken lawsuit, weighing in on the SEC’s overreach, while also opposing it.
In support of neither party, Montana just filed a rather remarkable amicus brief in the SEC’s enforcement case against Kraken. 7 other states support it. Here’s why those states all think the SEC’s “ecosystem” theory is unlawful and in fact a danger to their citizens: 1/5— paulgrewal.eth (@iampaulgrewal) March 1, 2024

Meanwhile, numerous other factors, such as the regulatory entity’s abrupt exercise of this undelegated authority, puts consumers at risk nationwide. This falls in line with the global takedown witnessed by the SEC, as the regulatory body forged ahead with multiple lawsuits with some of the most renowned crypto services firms across the world.

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Morgan Pulls In Warren Amid SEC’s Takedown
As mentioned above, while the whole world criticizes the American regulatory body, Elizabeth Warren appears to be siding with its anti-crypto stance. Warren’s previous chronicles, such as criticizing the successful commencement of Bitcoin ETFs and her close ties to Gary Gensler, Chair of the Securities and Exchange Commission, further support the anti-crypto sentiment mentioned above.
Concerning this, Morgan stated, “Warren is someone with agendas and motives that are anything but a concern with consumer protection,” nabbing global attention.

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#RIPPLE To Hit $2 By April. About Ripple Ripple, the company behind xRapid, xCurrent and XRP solutions continues to invest heavily in developing its ecosystem. Its main objective has always been to increase the intrinsic value of its currency and trading technologies, as well as taking the adoption of cryptocurrencies to a new level. The company recently partnered with MoneyGram, an international money transfer service. The initial idea of ​​the partnership was for MoneyGram to test xRapid and xCurrent as transaction tools.XRapid and xCurrent can be used to settle international transactions faster and much cheaper than using traditional methods. Fortunately the test seems to have been a success as MoneyGram has announced that it will adopt XRP and Ripple's solutions in full. According to ZyCrypto, xRapid was considered an efficient form of transaction, reducing the time and cost of transfer settlements. Interestingly, the recent partnership was born of a rivalry. Ripple, which is trying to bring a revolution for transfer solutions, had MoneyGram as its direct competitor, since both were in the same industry.Now, with the partnership, MoneyGram starts to use the speed offered by Ripple products and Ripple takes advantage of the adoption possibility by Money Gram users. This is where both sides win and the cryptocurrency ecosystem benefits. The news is excellent for the XRP, but there is no price movement yet. XRP remains the third largest in the industry at $ 0.316480 and up 1.5%, moving similarly to the rest of the cryptocurrency. It is possible that when the partnership gains strength, the currency will appreciate more, but this is far from certain. In addition, altcoins have been at a low point for a few weeks.#Write2Earn #Ada #TrendingTopic