- XRP price movements are now in-line with prominent coins in the crypto industry.
- The U.S SEC withholds the registration of two digital tokens.
Crypto traders and investors cannot look away from XRP, as the coin still holds vital utility backing the protocol. The digital asset has given out appreciable returns, despite the legal tussle clamping its limits. While daily volumes look bland, zoomed-out perspective gives a clear picture of how tall the asset has risen.
Consecutively, the protocol is witnessing appreciable growth and adoption around the globe. Moreover, initiatives are helping to bank the people who are unbanked. On the other hand, enthusiasts question the SEC for not filing the injunction, while it opines undeterred with its claims.
Ripple Breaks Through The Clutches Of The SEC!
The Crypto market seems to be generous for several cryptos in the industry, and XRP is no different. As the digital asset experiences steady price movements alongside fellow top coins. This is a moment of applause for XRP hodlers, as the crypto performs independently of its shortcomings. Which refutes the baseless claims by the SEC that Ripple controls the XRP price.
Netizens to which, question the SEC’s inability the file an injunction to withhold the trade of XRP. The SEC fails to file an injunction, as it requires evidence that the firm will win at trial. And also that the plaintiff could suffer irreparable damage if the injunction is not granted. The SEC fails to file the injunction, as it holds no evidence. The SEC has withheld the registration of two digital tokens as securities.
On the other hand, Ripple announces that they’re launching a Ripple Liquidity Hub. Which allows their enterprise customers to just seamlessly access crypto assets. In addition, Pypyl in alliance with Ripple is helping bank those are unbanked. And their customers can remit money home in a significantly lesser time.
XRP Price Analysis
The digital asset at press time is trading at $1.22 with the market cap at about $58,117,233,860. The trading volume for 24-hours is about $7,505,989,440. The digital asset has been trading along with the range of $1.18 and $1.34.
XRP enthusiasts are optimistic about the digital asset surging 10X from the current price. The analyst expects the coin to hit $20, however, pens his short-term targets at $1.536, $1.777, and $2.20. While support levels at $1.22 and 1.13.
Collectively, the digital asset has its robust underlying protocol backing, which might take it well above the set targets. Moreover, Ripple holds an upper hand over the SEC in its legal battle. We can expect the case to subside in near future, as the SEC’s stand is weakening with each passing day.
XRP Whale Withdraws 150 Million Coins from Binance
Another XRP whale moves his or her funds from the exchange, now storing $150 million in a private wallet
The transaction made only a few hours ago was one of the largest non-exchange transactions made on the XRP blockchain in the last few months, according to Whale Alert.
The $150 million transaction
According to the transaction page, an anonymous whale has moved 150 million XRP coins worth approximately $150 million from Binance exchange to an unknown wallet that is currently holding 150 million coins.
Previously, the same wallet has been making small, insignificant transactions to various exchanges worth approximately $20-$30. The first large transaction has been made.
After receiving significant funds, the wallet spent approximately 100,000 coins by transferring them to UpBit exchange. The purpose behind such unusual funds redistribution remains undisclosed.
Ripple’s price action
Ripple’s price does not seem to consider major funds moving in a market with the price continuously moving in the same trend. The asset has broken the four-day uptrend by dropping below $0.98.
XRP was one of many victims of the global cryptocurrency market correction that took place on the market due to a rise of risk-off tendencies after the aggravation of the pandemic all over the world.
Previously, U.Today reported that numerous whales have made large transactions from various centralized exchanges back to their wallets. Such a trend is tied to overall outflows tendencies on the cryptocurrency market.
At press time, XRP is trading at $0.97 while losing 1.2% of its value. The price of the asset gained 6.2% in the previous local uptrend.
XRP and Other Top Cryptocurrencies Now Accepted by Croatia’s Largest Supermarket Chain
Crypto is becoming mainstream in Croatia because of Konzum
Konzum, the largest supermarket chain in Croatia, which was founded all the way back in 1957, has begun accepting cryptocurrencies in its online store, according to a Dec. 1 report by Zagreb-based newspaper 24sata.
The lineup of supported digital currencies includes Ether (ETH), Bitcoin (BTC), XRP, Stellar Lumen (XLM) and Bitcoin Cash (BCH), as well two stablecoins (Tether [USDT] and DAI).
Shoppers are now able to buy groceries, hygiene items, household supplies and other items with the aforementioned cryptocurrencies.
Konzum partnered with Croatian fintech company Electrocoin to use its PayCek system to facilitate crypto payments.
They spent several weeks testing the service before the official rollout in the run-up to Christmas.
Crypto is coming to Konzum’s physical stores
Crypto payments will also gradually become available in Konzum’s physical stores throughout the country.
The company will begin with 60 locations that have self-checkouts. After that, new payment options will be introduced in 630 stores of all sizes throughout Croatia.
XRP Seeks Fresh Rally as Investors Look to Key Events in 2022
Ripple announced plans to launch Liquidity Hub in 2022 to assist financial services entities in providing customers with the capacity to buy and sell securities
Ripple has announced a financial liquidity hub planned for 2022. XRP seeks a fresh rally past the $1 mark at December’s start amid investors’ hopes for upcoming events in 2022 that might impact the price.
The goal of Ripple’s Liquidity Hub, which will launch in 2022, is to assist financial services entities in offering their clients the opportunity to buy and sell cryptocurrencies. The functionality will provide enterprise clients access to digital assets from a variety of sources, including market makers, exchanges and over-the-counter trading desks, according to the San Francisco-based company.
Second, according to Ripple CEO Brad Garlinghouse, the ongoing Ripple-SEC lawsuit will be resolved in 2022. ”Ripple is seeing pretty good progress despite a slow-moving judicial process,” according to the CEO. The SEC accused Ripple and its officials of selling $1.3 billion worth of tokens in an unregistered securities offering in December 2020.
XRP/USDT Daily Chart, Courtesy: TradinView.com
XRP has improved in price since the Friday sell-off, where it marked lows at $0.87. The cross-border token currently trades at $1. If the buyers of the remittance token push above $1.00, pending buy orders will be filled and market makers will provide more liquidity.