Ripple (XRP) could face a non-judicial trial after Max Keiser “accused” it of being centralized. This bitcoin (BTC) maximalist said he is not a supporter of XRP, a payments-centric digital token. This is a response to a tweet alleging he secretly holds XRP. Max Keizer added that XRP is no different from traditional money. This is the reason why Ripple could not win the SEC lawsuit. The crypto community is then interested in the impact of these assertions on the price and the future of XRP.
XRP vs Bitcoin: Would Ripple be useless?
Debates were heated between the Bitcoin maximalist and XRP devotees on Twitter. The topic of discussion between Keizer and XRP fans did not stop at decentralization. He went even further by pointing out the uselessness of the token for the crypto community. These comments suggest that Keiser was supportive of the SEC’s claims against Ripple. Nevertheless, the company had a chance of winning the lawsuit.
Although the bitcoin maximalist has underestimated the usefulness of XRP, it hasn’t disturbed the loyal Ripple community. Moreover, the token experienced a 92.77% increase in its trading volume over 24 hours to reach $1.47 billion. On the other hand, its course did not experience as significant a movement as its volume.
Can the price of XRP rise?
That being said, XRP could regain its momentum in the short term. In four hours, a descending triangle has formed on the chart. The creation of bullish divergence could then lead to an upside breakout on the charts. Moreover, the RSI indicated good buying momentum on XRP, despite the attack of the “ ambassador bitcoin. Its price could then increase if the token maintains its momentum.
Investors should, however, monitor the state of the Moving Average Convergence and Divergence (MACD). Currently, this oscillator indicates that Ripple buyers have not entirely overcome the pressure from the sellers. The dynamic of XRP then remains in favor of the latter, with Bitcoin which is still bearish. This trend therefore risks neutralizing the potential for a bullish movement in XRP.
Elsewhere, XRP’s on-chain data looks wobbly following the chart’s ups and downs. According to Sentiment, XRP’s thirty-day market value, relative to realized value, has lost growth since October 10. The value of -0.599% indicates that fewer investors have made profits since the decline. Additionally, Ripple has not made any significant upgrades to its network.
This explains the massive decline in its development activity. We can then say that XRP could move sideways depending on the direction of the market.
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