Former Ripple Manager Upset: These are Dreams for XRP Coin for Now!

Ripple’s token, XRP Coin, has had a very adventurous period recently. Following the massive crash in the overall market, XRP also took a hit, particularly as Bitcoin’s value dropped below $66,000. However, it showed some resistance and managed to reach around $0.48. Meanwhile, Former Ripple Executive Sean McBride sheds light on the reasons behind XRP’s lackluster performance. Could ongoing SEC litigation be the key factor hindering XRP’s potential rise?

McBride’s take: Why is XRP Coin struggling?

Sean McBride says the ongoing SEC and Ripple lawsuit is the primary factor preventing XRP’s price from rising. He states that Judge Analisa Torres’ latest decision is very valuable for a significant price movement. McBride argues that it is unrealistic to expect significant changes in the value of XRP until the case is concluded. In this context, McBride made the following ironic post:

I think I’ve mentioned this before. There will be nothing of value in the price of XRP until Judge Torres makes his decision. Therefore, those who expect something different are dreaming. The next big module of this is open legislation in the US. Hopefully with recent developments in Congress and Trump’s commitment to Crypto (assuming he becomes President) he is on that path. (…)

“I’m a big fan of Ripple “and XRP, but…”

However, a decision in favor of Ripple would potentially enable US institutions to cooperate with Ripple. Therefore, this will increase the price of XRP Coin. McBride believes that US institutions are waiting for a clear regulatory outcome before fully engaging with Ripple and XRP. However, he also makes some self-criticisms:

Ripple is great, they never make mistakes! Their manager farts rainbows! Everything they do turns to gold. Wake up, people. If you think Ripple works in this form, you are sadly mistaken. They are openly self-critical, employees have a backbone; They disagree. (…) Do not get me wrong. I’m a big fan of Ripple and XRP. This doesn’t mean that I’m a sheep who can’t see the truth about what’s going on behind the scenes.

XRP’s place in chaos

XRP’s quiet performance has been a hot topic within the crypto community. While other cryptocurrencies are experiencing upward trends, XRP Coin is mostly unaffected. Even during market corrections, XRP remains untouched. Meanwhile, Ripple has obtained more than 30 Money Transmitter Licenses (MTL) in the US. However, despite some positive news like this, the price of XRP continues to struggle.

XRP’s relative strength index (RSI) recently dropped to 32. This shows that the cryptocurrency is approaching the oversell zone. If the RSI falls below 30, it could indicate a potential price reversal. Following the collapse of Bitcoin, the downward trend prevailing in the market dropped the price of XRP to $0.47. According to analysts, if this trend continues, the price may drop to $0.36, although there is a significant support around $0.42. On the other hand, if the bulls gain momentum, it is possible that XRP will face resistance at $0.55. If it exceeds this level, its next target will probably be $0.75.