- 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.
#XRP We have waited 6 years for this moment, stacking up our bags as much as possible. Some could argue that history states one more final shakeout before the the sleeping giant awakes.When we get there, don't let people call you "lucky"XRP rewards brutal patience.First… pic.twitter.com/QPenKtXkmo— Alex Cobb (XRP) (@AlexCobb_) August 6, 2023
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 absolutely believes that XRP itself is a security. And Judge Torres clearly repudiated that belief in her ruling.Here's the transcript from the 2021 hearing. The SEC lawyer argues that XRP remains a security, but that there's an exemption for individuals to sell. https://t.co/cd3KQz6dVn pic.twitter.com/gNR8vOw567— Jeremy Hogan (@attorneyjeremy1) August 6, 2023
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.
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