XRP has been under the spotlight during this bear market, but its price remains a concern. After a strong start in August, XRP’s momentum stalled and hopes that XRP Ledger and RLUSD would give it a lift have fallen flat. Bill Morgan has closely observed these developments, offering his insights on why these factors haven’t pushed XRP higher.
Let’s take a look at what he has to say!
In his recent X post, Bill Morgan expressed surprise that two significant developments—the introduction of smart contract capabilities to the XRP Ledger (XRPL) and the impending launch of Ripple’s RLUSD stablecoin—haven’t sparked any noticeable price movement for XRP. Despite these major updates, the token’s price remains largely stagnant, raising concerns about the market’s response to Ripple’s progress.
Is It Rational to Expect Gains?
Morgan also questioned whether investors holding XRP could realistically expect profits from Ripple’s efforts. Referring to the Howey Test, which assesses whether an asset should be considered a security, he cast doubt on whether an XRP investor could reasonably anticipate profits directly linked to Ripple’s actions after the token’s performance in recent years.
Additionally, Morgan raised a more pointed question: is it even rational for XRP investors to hold on to such expectations? Given the lack of price movement in response to Ripple’s innovations, he implied that perhaps the market is no longer relying on Ripple’s efforts to boost XRP’s value.
Community Reaction
An X User known as RippleMeThis, responded to Morgan’s observations, expressing frustration over the stagnant price of XRP despite being invested in the asset for over two decades. He noted the lack of “organic price movement” in XRP compared to other assets, hinting that the token’s performance defies traditional market expectations.
However, both Morgan and RippleMeThis seem to agree that while XRP remains a unique asset with its market behavior, its future price growth might depend less on Ripple’s immediate innovations and more on broader, long-term factors. Investors, particularly those holding XRP for years, may need to adjust their expectations and understand that Ripple’s efforts alone may not be the catalyst for sudden price increases.
XRP Current Market Scenario
In the ongoing legal battle between Ripple vs SEC over XRP, XRP has seen a 2.6% price increase, now trading around $0.563, with trading volume up by 35%, showing greater market interest. Expert analysis highlights XRP at a key support level, facing strong resistance from the 200 EMA on a four-hour chart. If XRP closes above $0.577, it could potentially rise to $0.64 in the coming days.
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