XRP is among the most popular altcoins in the world. Ripple vs SEC lawsuit has kept the token under the headlines since December 2020. Though it stands to lose a lot if the case goes in favor of the SEC, the XRP price is expected to embark on a new journey north in the forthcoming month.
Top 5 reasons why Ripple might explode in February 2023
Whales Effect
In a stunning display of crypto-currency power, XRP crypto whales have purchased up to 70 million worth of XRP tokens in multiple transactions over the past 24 hours. According to WhaleAlert, $29.1 million worth of XRP tokens were transferred from an unknown wallet to Bitstamp. And soon after, 30,200,000 of the token, valued at $12,867,050, were moved from Bitso to another unknown wallet.
Strong Partnerships
Strategic partnerships are an essential element of a business’s growth strategy. And it’s no different for XRP. Ripple has partnered with more than 100 financial institutions including Santander (USA) Canadian Imperial Bank of Commerce (Canada) Kotak Mahindra Bank (India).
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Social Dominance
XRP has one of the biggest social dominance, which can easily lead to price surges ahead. At the time of writing, XRP is hovering around $0.4058 and has an $877,832,945 24-hour trading volume. The coin has increased by 4.41% during the past seven days and there are subtle cues to suggest that more gains will be had in the very near future.
Ripple’s Post-SEC Future
One of the latest news about the SEC vs Ripple lawsuit is that the US District Court Judge Analisa Torres overruled the SEC’s objections to providing emails sent by William Hinman (former Finance Division Director). Looking at the recent price surge, XRP does have a chance to reach the $0.5 mark by the end of February 2023. However, if the SEC trial goes in Ripple’s favor, the price may even surge higher than $1.
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Ripple XRP expansion in Asia
Every individual is very well aware that Asia is one of the largest markets for financial technologies and cryptocurrencies. XRP has been successful in Finding favors in the market, especially in South Asian countries like Japan, where financial institutions have been settling transactions in XRP.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/5-reasons-why-ripple-xrp-might-explode-in-february-2023-10023/