As of this week, almost all altcoins have potentially realized that they are in trouble with the SEC. XRP has been experiencing this for years, being excluded from US-based exchanges and having to endure the negative effects of the lawsuit. However, things are changing with the recent uptrend.
XRP Coin on June 13
The time has come. The XRP Coin case is nearing its end, and according to the Ripple CEO, we will witness the final stages of the lawsuit in the coming weeks. June 13 is a crucial date in many aspects, so what developments will potentially affect the price of XRP Coin?
Inflation data will be announced.
The Fed's interest rate decision will be announced. (June 14)
Hinman Documents will be released.
The Hinman Documents could convince the XRP Coin community to regain momentum. The inflation data is expected to come in low, and it is anticipated that the Fed will hold off on interest rate hikes this month. When these three factors align, it could create a favorable environment for the price of XRP Coin to rise.
XRP Coin Price Prediction
The notable decision by the SEC to delist Ripple's XRP from the list of tokens defined as "securities" went unnoticed by the markets. XRP holders have been increasingly optimistic about a positive outcome in Ripple's long-standing SEC case in the coming weeks, leading to a surge in its price.
It is observed that prominent institutional investors are at the forefront of the ongoing XRP price rally. As an indicator, as the total XRP network transaction volume has increased, whale activity has also increased concurrently. Whale transactions increased by 8,000% this week, from 7 major transactions on June 3 to 557 on June 8.
XRP made several unsuccessful attempts to surpass $0.55, but this time, it seems that bullish whales will propel the ongoing XRP price rally to a new 2023 high above $0.60. According to Santiment's Market Value to Realized Value (MVRV) data, most crypto investors who bought XRP in the past month are currently looking at unrealized profits of around 7%. Historical trading patterns indicate that they could achieve an additional 6% gain before selling around $0.57.