Will the Ripple Victory Party Boost XRP Price?
In late August, Ripple announced that it would be hosting a victory party to celebrate its legal win against the SEC. The party is scheduled for September 29th and many wonder if this event will have a positive impact on the price of XRP.
Background on the Ripple Party
In July, Judge Analisa Torres ruled that secondary sales of XRP did not qualify as securities. This marked the end of a three-year legal battle between Ripple and the SEC. Unlike other companies that settled, Ripple chose to fight the regulator in court, resulting in significant legal fees.
The ruling vindicated Ripple and led to widespread celebration within the community. Major exchanges relisted XRP, which caused a surge in its price. In response to this victory, Ripple announced the upcoming celebratory party.
As promised – it’s time for that proper victory party.
The last few years have been quite the journey and I look forward to sharing a celebratory toast on Sept 29 in NYC!— Brad Garlinghouse (@bgarlinghouse) August 28, 2023
As the euphoria from the legal win waned, the upcoming party could reignite excitement among the community. It has the potential to boost morale, increase confidence in XRP, and generate more interest in the coin.
If this happens, we may see an uptick in the XRP price, with a possible recovery above $0.5. Additionally, network activity is likely to increase as well.
Community members have expressed their anticipation for the party, noting that it is a celebration of victory over the SEC rather than a celebration of XRP’s price.
The #Ripple party isn’t to celebrate XRP’s price. In reality people are celebrating the defeat of Gary Gensler and the SEC
— XRPcryptowolf (@XRPcryptowolf) September 24, 2023
Currently, XRP is experiencing a 2.49% loss in the last day, trading at $0.496. However, its daily trading volume has increased by over 90% to above $700 million.
Hot Take: Ripple Victory Party Could Ignite XRP Price Recovery
The upcoming Ripple victory party has the potential to bring back the enthusiasm and optimism surrounding XRP. While the initial excitement from the legal win has faded, this celebratory event might rekindle positive sentiment among the community. A boost in morale and confidence could lead to an increase in demand for XRP, potentially driving its price above $0.5 once again. Moreover, heightened network activity is likely to accompany this price recovery. It’s important to note that participants are celebrating not just the victory over the SEC, but also the defeat of Gary Gensler, further emphasizing the significance of this event for XRP supporters.
By
By
By
By