{"id":29164,"date":"2023-09-05T11:53:22","date_gmt":"2023-09-05T15:53:22","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29164"},"modified":"2023-09-05T11:53:22","modified_gmt":"2023-09-05T15:53:22","slug":"can-ripple-control-the-xrp-price-crypto-analysts-weigh-in","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/05\/can-ripple-control-the-xrp-price-crypto-analysts-weigh-in\/","title":{"rendered":"Can Ripple Control The XRP Price? Crypto Analysts Weigh In"},"content":{"rendered":"

The XRP token<\/a> has attracted much attention, especially because of Ripple\u2019s ongoing legal battle<\/a> with the US Securities and Exchange Commission<\/a> (SEC). This has led to speculations on whether Ripple is able to control the XRP price or not. So crypto analysts have chimed in to share their opinions.<\/p>\n

No Ripple Effect On XRP?<\/h2>\n

Pro-XRP influencer Crypto Eri stated in a tweet<\/a> that she doesn\u2019t rely on the \u201cefforts of Ripple\u201d to increase XRP\u2019s value. She suggested that the crypto company hasn\u2019t done much to grow the token as it accounts for a \u201csingle digit impact on volume.\u201d\u00a0<\/p>\n

Unlike DAI, I don\u2019t rely on the efforts of Ripple to build up the price of XRP. Never have, never will. Especially with accounting for single digit impact on volume. It\u2019s surprising after surviving the SEC attack, anyone would subscribe to this reliance. https:\/\/t.co\/XG2bA6qsva<\/a><\/p>\n

\u2014 Crypto Eri Carpe Diem (@sentosumosaba) September 4, 2023<\/a><\/p>\n

There is a common belief that token issuers should be able to control and drive up the price of their tokens, whether through their marketing efforts, a deflationary mechanism, or simply increasing the use cases of their tokens to send a bullish signal to the crypto community.<\/p>\n

In Ripple\u2019s case, Eri believes holders shouldn\u2019t rely on the company, especially after \u201csurviving\u201d the SEC attack. While her stance is unclear, many may argue that Ripple\u2019s effort in its case against the SEC shows its commitment to building the ecosystem and promoting mass adoption of its token.<\/p>\n

Eri\u2019s tweet came in reply to another pro-XRP influencer, Digital Asset Investor, who tweeted<\/a> about why he was bullish on XRP. In contrast to Eri\u2019s view, this influencer believes that Ripple\u2019s efforts will greatly affect XRP\u2019s value as Ripple promises to disrupt the global financial system, so he is bullish on the token.<\/p>\n

\u00a0<\/p>\n

Some would think these were things said by influencers to hype XRP. They were actually said by Ripple. This is why I\u2019m here. I believe them.In It To Win It!
\n-XRP Could Help In A Systemic Risk Situation In another financial crisis
\n-XRP will be like a supranational\u2026<\/p>\n

\u2014 Digital Asset Investor.XRP (@digitalassetbuy) September 2, 2023<\/a><\/p>\n

Has Ripple Had Any Effect On XRP?<\/h2>\n

It is worth mentioning that the XRP price experienced significant gains on the back of Judge Analisa Torres\u2019 ruling<\/a> in favor of Ripple. The token surged over 23% within hours of the decision and rose to as high as $0.9 due to the ruling.\u00a0<\/p>\n

Furthermore, XRP became the fourth-largest token by market cap following the decision (although it has dropped to 5th since then). However, there is no denying the potential for Ripple to go head-to-head with the foremost cryptocurrencies such as Bitcoin and Ethereum.<\/p>\n

Interestingly, there was a significant increase in daily transactions conducted on the XRP ledger<\/a>, with more transactions conducted on the blockchain at the beginning of last month than leading blockchains Ethereum and Bitcoin.\u00a0<\/p>\n

Ripple has also not rested on its efforts to develop the XRP ecosystem despite the SEC\u2019s lawsuit against it. The crypto company is looking to expand into the tokenized assets industry<\/a> by enabling trading of these asset classes on the XRP Ledger.\u00a0<\/p>\n

There are also plans to release an upgrade for the XRP Ledger<\/a>, with a notable amendment being the introduction of a novel automated market maker (AMM). This update could see XRPL become a major player in the DeFi space and increase XRP\u2019s utility, which could trigger an increase in its value.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

The XRP token<\/a> has attracted much attention, especially because of Ripple\u2019s ongoing legal battle<\/a> with the US Securities and Exchange Commission<\/a> (SEC). This has led to speculations on whether Ripple is able to control the XRP price or not. So crypto analysts have chimed in to share their opinions.<\/p>\n

No Ripple Effect On XRP?<\/h2>\n

Pro-XRP influencer Crypto Eri stated in a tweet<\/a> that she doesn\u2019t rely on the \u201cefforts of Ripple\u201d to increase XRP\u2019s value. She suggested that the crypto company hasn\u2019t done much to grow the token as it accounts for a \u201csingle digit impact on volume.\u201d\u00a0<\/p>\n

Unlike DAI, I don\u2019t rely on the efforts of Ripple to build up the price of XRP. Never have, never will. Especially with accounting for single digit impact on volume. It\u2019s surprising after surviving the SEC attack, anyone would subscribe to this reliance. https:\/\/t.co\/XG2bA6qsva<\/a><\/p>\n

\u2014 Crypto Eri Carpe Diem (@sentosumosaba) September 4, 2023<\/a><\/p>\n

There is a common belief that token issuers should be able to control and drive up the price of their tokens, whether through their marketing efforts, a deflationary mechanism, or simply increasing the use cases of their tokens to send a bullish signal to the crypto community.<\/p>\n

In Ripple\u2019s case, Eri believes holders shouldn\u2019t rely on the company, especially after \u201csurviving\u201d the SEC attack. While her stance is unclear, many may argue that Ripple\u2019s effort in its case against the SEC shows its commitment to building the ecosystem and promoting mass adoption of its token.<\/p>\n

Eri\u2019s tweet came in reply to another pro-XRP influencer, Digital Asset Investor, who tweeted<\/a> about why he was bullish on XRP. In contrast to Eri\u2019s view, this influencer believes that Ripple\u2019s efforts will greatly affect XRP\u2019s value as Ripple promises to disrupt the global financial system, so he is bullish on the token.<\/p>\n

\u00a0<\/p>\n

Some would think these were things said by influencers to hype XRP. They were actually said by Ripple. This is why I\u2019m here. I believe them.In It To Win It!
\n-XRP Could Help In A Systemic Risk Situation In another financial crisis
\n-XRP will be like a supranational\u2026<\/p>\n

\u2014 Digital Asset Investor.XRP (@digitalassetbuy) September 2, 2023<\/a><\/p>\n

Has Ripple Had Any Effect On XRP?<\/h2>\n

It is worth mentioning that the XRP price experienced significant gains on the back of Judge Analisa Torres\u2019 ruling<\/a> in favor of Ripple. The token surged over 23% within hours of the decision and rose to as high as $0.9 due to the ruling.\u00a0<\/p>\n

Furthermore, XRP became the fourth-largest token by market cap following the decision (although it has dropped to 5th since then). However, there is no denying the potential for Ripple to go head-to-head with the foremost cryptocurrencies such as Bitcoin and Ethereum.<\/p>\n

Interestingly, there was a significant increase in daily transactions conducted on the XRP ledger<\/a>, with more transactions conducted on the blockchain at the beginning of last month than leading blockchains Ethereum and Bitcoin.\u00a0<\/p>\n

Ripple has also not rested on its efforts to develop the XRP ecosystem despite the SEC\u2019s lawsuit against it. The crypto company is looking to expand into the tokenized assets industry<\/a> by enabling trading of these asset classes on the XRP Ledger.\u00a0<\/p>\n

There are also plans to release an upgrade for the XRP Ledger<\/a>, with a notable amendment being the introduction of a novel automated market maker (AMM). This update could see XRPL become a major player in the DeFi space and increase XRP\u2019s utility, which could trigger an increase in its value.\u00a0<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-29164","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=29164"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29164\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29164"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}