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

2 mins
By Sangho Hwang
Translated David Thomas
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In Brief

  • Cryptocurrency analyst Egrag Crypto predicts that Ripple (XRP) is poised to dominate the crypto world due to its regulatory clarity.
  • Egrag Crypto has emphasized that XRP, backed by well-defined legal definitions, is a crucial investment for those seeking a secondary digital asset.
  • Despite the SEC's ongoing legal battle with Ripple, the XRP community continues to support the potential of the cryptocurrency.
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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.”

Egrag Crypto Bullish XRP Prediction
EGRAG Crypto predicts XRP will dominate crypto | Source: Twitter

“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.”

Find out here where to buy XRP.

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.

XRP price trend
XRP price trend. Source: CoinGecko

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.

Got something to say about the XRP community or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTokFacebook, or X (Twitter).

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David Thomas
David Thomas graduated from the University of Kwa-Zulu Natal in Durban, South Africa, with an Honors degree in electronic engineering. He worked as an engineer for eight years, developing software for industrial processes at South African automation specialist Autotronix (Pty) Ltd., mining control systems for AngloGold Ashanti, and consumer products at Inhep Digital Security, a domestic security company wholly owned by Swedish conglomerate Assa Abloy. He has experience writing software in C,...
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