• Ripple’s Q4 Market Report revealed that it sold just over $220 million in XRP tokens, thanks to its On-Demand Liquidity product.
• The XRP price has increased by 3.5% in the past fortnight and 18% in the last 30 days.
• Ripple CEO Brad Garlinghouse expects the company’s legal battle with the SEC to conclude by the end of 2023 or sooner.
Ripple’s Q4 Market Report
Ripple recently released its fourth quarter Markets Report, which highlighted strong demand for their On-Demand Liquidity (ODL) product, an XRP-based cross-border payments solution available in around 40 markets worldwide. This resulted in just over $220 million worth of XRP tokens being sold during this period, leading to a 3.5% increase in value over two weeks and an 18% rise within the last month.
Ripple’s Legal Battle With The SEC
Ripple is currently embroiled in a long-running legal battle with the US securities regulator, which may soon be coming to an end according to CEO Brad Garlinghouse who believes that it could conclude within either six months or one year from now.
XRP Price Predictions
From looking at XRP’s chart it appears that there could potentially be a rally on the cards as its relative strength index has been rising and its 30-day moving average is nearing its 200-day mark, indicating a possible breakout rally if certain conditions are met.
XRP Demand Remains High
Despite Ripple’s legal woes, demand for their services and their cryptocurrency remains high as shown by their quarterly report net sales figures of $226.31 million for Q4 and $310.68 million for Q3 respectively; thus hinting at potential growth once the case is concluded successfully.
Conclusion
All things considered, although there are still some uncertain conditions when it comes to predicting XRP prices due to market volatility, if Ripple secures a positive outcome with regard to their SEC case then demand for their services could skyrocket leading to an increase in value of XRP tokens as well.