XRP’s lack of momentum over the past few years has frustrated investors, with some calling for a catalyst to break the current trend. Stephanie Starr (@StephanieStarrC), a prominent crypto pundit and trader, recently expressed her concerns on social media regarding XRP’s price stability.
Highlighting the token’s inability to surpass the key resistance level of $0.5 and its failure to capitalize on broader market rallies, Starr called for someone to kick it into action.
Read Also: Legal Expert States Sole Cause of XRP 5 Years Price Stagnation
XRP’s Price Struggles
XRP has been trading within a relatively narrow range for a considerable time. This stability coincides with the token hovering around $0.5, a multi-year resistance level that has historically proven difficult to overcome.
Further dampening investor sentiment is XRP’s inability to keep pace with surges experienced by other cryptocurrencies. In March, for instance, while other tokens like Shiba Inu saw astronomical gains exceeding 400%, XRP only managed a modest increase before retreating. Even Bitcoin established a new all-time high during this period, highlighting XRP’s lackluster performance.
Starr’s post on X specifically addressed XRP’s price inaction over the past 90 days. She pointed out that the token has not reached the $0.75 mark since a brief surge in March.
This stagnation, coupled with XRP’s failure to capitalize on broader market movements, has led Starr to question if any developments are on the horizon that could inject some much-needed life into the token’s price.
Possible Reasons for XRP’s Stagnation
Several factors could be contributing to XRP’s current price woes. The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) continues to be a major hurdle for XRP.
Recent developments suggest that XRP’s security status might soon be overturned in California, potentially limiting its use within the state and causing further problems.
Another factor potentially hindering XRP’s growth is the lack of widespread adoption. While Ripple has made strides in forging partnerships with financial institutions, XRP has yet to achieve mainstream acceptance as a medium of exchange or a viable store of value.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Attorney John Deaton Addresses XRP Doubters, Says “FOMO Won’t Likely Kick in Until $2”
Future Outlook for XRP
The future trajectory of XRP’s price remains uncertain. The resolution of the SEC lawsuit and any developments regarding XRP adoption will likely play a significant role in determining the token’s long-term value.
Starr’s comments are reminiscent of another prominent crypto that called on Ripple and its executives to do something about XRP. Only time will tell how well XRP performed as the legal battle develops and Ripple expands its reach and partnerships.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News
