Woes of insider trading, some technical warnings for XRP’s price, amid a number of other interesting developments for Ripple – news that you can’t miss.
Was there XRP insider trading prior to CEO announement of SEC victory?
According to a recent research by Santiment, large XRP wallets inccreased their holdings by around 6.5% in the two months leading up to the announcement that the SEC had dropped its appeal against the company.
In addition to that, this period also saw a sixfold increase in unique wallet activity on the Ripple network, which contrasts wit user outflows on other blockchains.
However, it’s a stretch to say that there was insider trading, because the news was widely anticipated as some experts even said that it was priced in ever since Donald Trump won the elections in November last year.
Time to short XRP?
Some are of the opinion that the XRP token might as well be overvalued, given that a lot of the catalysts for a positive price move have already happened, begging the question if it’s time to short it.
Ripple essentially “won” the lawsuit against the US Securities and Exchange Commission, although they still have to pay a hefty fine and they’ve stated that they will be contesting that. However, the Commission won’t carry the motion further, which is good enough.
At the same time, hightened social media activity around XRP has prompted some analysts to believe that it might be a good opportunity for contrarian investors to consider shorting the cryptocurrency.
XRP price to drop by 50%?
Ali Martinez, a well-known crypto analyst with hundreds of thousnads of followers on X, recently posted a controversial take on the XRP price, predicting a substantial crash.
According to him, the recent pump and dump in XRP has essentially created a very popular technical pattern known as head-and-shoulders. If it plays out, this could result in a 50% dump in the asset’s price, driving it down toward $1.25.
