- Ripple supporter, Alex Cobb, encouraged traders to stock up on XRP in one of his latest tweets.
- Cobb also expects one more “shakeout” before the price of Ripple will explode.
- At press time, XRP was worth $0.6093 after its price decreased by more than 3%.
Dedicated Ripple (XRP) supporter Alex Cobb shared in a Twitter post yesterday that traders should think about “stacking up their bags” as much as possible. According to the post, Cobb believes XRP will likely face one more “shakeout” before the sleeping giant awakes.
Cobb’s tweet also stated that investors’ brutal patience will be rewarded. Although XRP might be the last coin to pump, the Ripple stan pointed out that XRP was the first coin to defeat the SEC, the first altcoin with legal clarity in the U.S, and the first project to become partners with mega-banks.
However, lawyer Jeremy Hogan pointed out in his own Twitter post shared yesterday that the SEC still firmly believes that XRP itself is a security.
The SEC lawyer argued that XRP remains a security, but that there’s an exemption for individuals to sell. The SEC hints at appealing XRP’s win in the latest lawsuit between the the SEC and Terra Luna, and this is likely the “shakeout” referred to by Alex Cobb before the price of XRP will soar.
Meanwhile, XRP was one of the many cryptocurrencies that saw its price fall over the past day of trading, according to CoinMarketCap. The remittance token was worth about $0.6093 after its price decreased by more than 3% throughout the past 24 hours.
This slip in XRP’s price caused it to weaken against the market leader, Bitcoin (BTC) by about 3.23%. Additionally, the altcoin’s 24-hour trading volume stood at $950,329,727, at press time, which was a 4+% drop from the previous day.
XRP’s weekly performance was not looking much better as the cryptocurrency was down by 13.49% over the past seven days. XRP was ranked as the 5th largest token with its market capitalization of $32,187,722,374.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
