David Gokhshtein, the founder of Gokhshtein Media, has regretted his decision to buy some memetokens rather than adding more XRP tokens.
Interest in XRP seems to be on the rise as Ripple guns for victory in the ongoing court battle with the United States Securities and Exchange Commission (SEC).
A report by Santiment also showed that XRP is among the top five crypto tokens with a high rate of social activity and discussion.
David Gokhshtein Says He Have Accumulated More XRP
Among those accumulating XRP and hoping for a price rally is David Gokhshtein, a former US Congressional candidate who is also a member of the Republican Party and the founder of the popular crypto news outlet, Gokhshtein Media.
As previously reported by Timestabloid, David Gokhshtein earlier disclosed his intention to fill his portfolio of different digital currencies with more XRP tokens. “I’m personally itching to maybe get a few more bags of XRP,” he said.
But in a recent turn of events, the renowned crypto proponent and XRP holder laments not buying more of Ripple’s digital token following the recent surge in the price of XRP.
According to the Thursday tweet by the Gokhshtein media founder, his investment in some undisclosed meme tokens has not yielded significant returns.
I should have got more $XRP rather than these f’ing meme tokens.
— David Gokhshtein (@davidgokhshtein) September 22, 2022
XRP in the Market
XRP, which is currently the 6th largest cryptocurrency by market capitalization, has grown in price value by over 53% in the past 7 days. Also, in the last 24 hours, XRP has rallied over 18% and is the most trending token after Bitcoin (BTC) on Coinmarketcap.
According to Santiment, a market intelligence platform, “The price ratio of $XRP/ $BTC has hit a one-year high of 0.000025 on the continued optimism of a potential settlement of Ripple with the SEC. Active shark and whale addresses holding 1m to 10m $XRP have been in an accumulation pattern since late 2020.”
🐳📈 The price ratio of $XRP/ $BTC has hit a one-year high of 0.000025 on the continued optimism of a potential settlement of #Ripple with the #SEC. Active shark & whale addresses holding 1m to 10m $XRP have been in an accumulation pattern since late 2020. https://t.co/z0E12cpn4G pic.twitter.com/dnmQZVxfvO
— Santiment (@santimentfeed) September 22, 2022
This recent growth of XRP in the market can be attributed to the positive developments surrounding the XRP lawsuit filed against Ripple Labs Inc., by the SEC.
The securities watchdog contends that XRP is a security but has not been able to prove this beyond a reasonable doubt. Meanwhile, comments from some former SEC officers portray XRP to be similar to Bitcoin (BTC), and Ethereum (ETH), which are not regarded as securities by the SEC.
It is worth noting that both parties filed a motion for Summary Judgment to be issued by Judge Analisa Torres. However, the SEC is intending to request “additional time” in the proceedings of the litigation in response to the position taken by the Chamber of Digital Chambers. Ripple and other Ripple defendants have objected to this SEC’s suggestion calling it “delay tactics.” On the whole, the crypto community hopes that the case ends in favor of Ripple.