Announcing its first quarter report, Ripple (XRP) had a sale of $361 million, how could this sale affect XRP?
Announcing its first quarter report in the past hours, Ripple (XRP) has left its mark on the crypto industry. XRP, which sold more than previous data, brought many questions with it. With net sales of $360 million, Ripple has resonated especially in the XRP ecosystem. It aroused curiosity about how the effects of this report, XRP, which is one of the most popular and largest volume coins in the industry, will be reflected in the XRP price.
XRP’s First Quarter Report
The data that marked the first quarter report of 2023 was XRP’s sales of $ 361.06 million. When we consider the last quarter data, we can observe that this data, which is 226.31 million dollars, has greatly increased. The remarkable data of XRP was not limited to sales only.
XRP, which is always on the agenda with the SEC tension, created fear with the data on the number of active wallets. XRP, which has 228 thousand active wallets in the last quarter of 2022, has 140 thousand active wallets in the first quarter of 2023. Ripple, which burned a total of 141 thousand XRP in the first quarter, burned 102 thousand XRP in the last quarter of last year.
Almost Twice The Price!
Jumping from $ 0.339 to 2023, XRP reached $ 0.5854 in the first quarter and almost doubled its price. XRP, which showed a strong performance by gaining a value of 93.95 percent, became the leader in many data. One of the main reasons for the rise of XRP was the SEC war. XRP, which has been in tension with the SEC for a long time, reactivated its investors with the positive developments from the case.
The biased Fud news of Bitcoin (BTC) and the decrease in XRP news flow seem to have eroded the momentum of XRP in recent days. In XRP, which showed the highest increase compared to other major coins, the eyes were turned to the litigation process. Ripple-based positive news from the SEC lawsuit may rekindle XRP’s fire.
Are Big Rises Near XRP?
Before we can answer this question, the SEC-Ripple case needs to be followed closely. The case in which Ripple’s future will be drawn will directly be the main criterion for the XRP price. XRP, which showed an increase of close to 94 percent in the first quarter of 2023, generally gathered strength with the developments in the SEC case. The decrease in the developments in the case and the downward trend of BTC almost cut the momentum of XRP.
The news of MtGox and the US’s sale of BTC directly affected XRP, which was advancing with a bullish trend. BTC blocked the upward movement of XRP, which came from the support of $ 0.43 to $ 0.48 within hours. Positive pricing of the market or positive results in the SEC fight may carry XRP to the levels of 0.4710 – 0.5016 and 0.5269 dollars, respectively.
In the case where the scenarios are reversed, the levels of 0.4400, 0.4223, 0.03862 and 0.3385 dollars can be followed as support for XRP. XRP, whose crypto ecosystem has a significant investor base, is tightly followed by most.
XRP, which currently finds buyers at $ 0.47 (1609 Satoshi), has a market value of $ 24.38 billion. Expectations are still high in XRP, which made $3.30 ATH on January 4, 2018. Despite being 85.72 percent behind ATH, it could put the ATH issue back on the table once it wins the SEC case. Will XRP, which has not been worn for years, be able to regain its old days? This question depends almost entirely on the outcome of the SEC case.
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