At press time, XRP is up more than 5 percent and is trading at $0.4. According to WhaleStats, XRP was among the top 10 coins purchased by the 100 largest BSC whales in the past 24 hours.
XRP started to rise after hitting a low of $0.362 on Feb. 13 as investors bought in.
XRP/USD chart. Source: TradingView
XRP closed in the green on February 14 and rose above $0.4. The move continued, reaching an intraday high of $0.4047 on February 15.
The RSI of 70 is a positive sign. This could indicate that a large price move may be imminent.
A sustained rally can push XRP price up to $0.428. On the downside, any dip could push XRP price to retest $0.362.
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XRP enthusiast Bill Morgan shared a partial screenshot of Ripple’s Q4 2022 report, showing that Ripple only sells XRP associated with ODL transactions.
The market report released by ripple clearly states that they are net sellers of XRP, and also clearly states that Ripple’s current XRP sales are only for ODL. It also alleges this in its lawsuit. All of this is very transparent and disclosed to the SEC, unlike Satoshi Nakamoto. https://t.co/Bs6tFpU6az pic.twitter.com/djRBrqgSTi
— Bill Morgan (@Belisarius2020) February 15, 2023
Morgan said this has been going on since June 2019, which may explain why the SEC never pursued the current sale.
He has previously questioned CryptoLaw founder John Deaton’s statement that if the current sale is only for ODL purposes and not an investment with an expected return, it is forbidden or disagrees.
Deaton replied that if it was true, there would be no restraining order or refund order, only fines.
Morgan said in another tweet that the SEC’s only hope is to “impose fines on sales prior to 2019,” which echoes Deaton’s view that if Ripple offered XRP as an unregistered security between 2013 and 2017, the SEC would only victory.
- Patience on XRP is dwindling due to lack of news on Ripple vs SEC lawsuit
- XRP regains momentum despite lawsuit between Ripple and SEC remains unresolved
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According to USA Today
