XRP Down 18% in a Week: Can Community Defend Price?

The Securities and Exchange Commission (SEC) battle with Ripple (XRP) has been reignited as it filed an interim appeal with the court on Monday. Cryptocurrency analyst Egrag Crypto has argued that XRP is poised for crypto supremacy. He cited XRP’s regulatory clarity and adherence to statutory definitions.

Crypto analyst and Ripple (XRP) investor Egrag Crypto has taken to X (formerly Twitter) to claim that “XRP is inherently different from other coins” and that “XRP will dominate the crypto world in the future.”

“Personally, I have a firm belief that XRP is destined for supremacy (in crypto),” Egrag Crypto told his followers on Feb. 22, asking: “If you’re satisfied with XRP being third or fifth in the overall market, why keep investing?”

He added: “XRP is the only digital asset that is backed by regulatory clarity and well-defined legal definitions,” said Eggregg Crypto. “The combination of technology and regulatory clarity makes XRP the most important investment.” “For investors looking for a secondary digital asset, XRP can be an altcoin.”

He emphasized to his followers that if they weren’t convinced that XRP had the potential for a price surge similar to the 2017 boom, he didn’t know how else to explain it.

What Will XRP Community Choose This Time?

Egrag Crypto analyzed that Ripple has performed well over the past two years because of strong community support. Even while Ripple was in the middle of a lawsuit with the SEC, the community continued to believe in the potential of XRP. 

However, on Sept. 9, the SEC filed an interim appeal with the US District Court for the Southern District of New York.  On April 22, XRP advocate Bill Morgan said he could not predict the outcome of the appeal. A day earlier, another XRP proponent, attorney John Deaton, accused SEC lawyers of having learned nothing from the Ripple case.

On Aug. 22, the price of XRP was down 0.9% from 24 hours earlier to $0.51. It is down 18% from a week ago.

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