Expert Challenges XRP Supporters: Asks to Prove XRP Price Rise Without Using Charts, Hype, or Influencer Opinions

Popular XRP community figure David “XRP Lion” challenges market watchers and analysts to provide a reasonable and sound analysis to support a potential price rise for XRP.

According to David, the analysis must exclude commonly used methods like bull run terms, technical analysis charts, and potential influence from XRP’s correlation with Bitcoin (BTC).

Additionally, he emphasized that the analysis must not reference opinions from popular XRP influencers like Ben Armstrong (BitBoy). Interestingly, David claimed that only one person has met these criteria so far. He noted that the person’s identity will be revealed in an upcoming XRP pricing video.

Why Past Performance Doesn’t Support Future Price Action

Furthermore, the XRP community member asserted that an asset’s past performance does not determine its future price action. He buttressed this assertion using XRP’s price movements during significant updates from the SEC v. Ripple lawsuit.

David stated that nothing happened to XRP’s price after July 13, 2023. Although this day was marked as the official date when Judge Analisa Torres issued the summary judgment decision in the Ripple case, David claimed it was the period when the “SEC released Brad Garlinghouse and Chris Larsen” (Ripple executives).

He also suggested that the relisting of XRP on United States-based exchanges following Judge Torres’ summary judgment ruling did not lead to any price changes for the asset. Lastly, the user said nothing also happened when Judge Torres drastically reduced the SEC’s proposed fine in the case from nearly $2 billion to $125 million.

It is worth noting that David’s commentary reinforces the need for robust evidence to support a potential increase in XRP’s price.

XRP Performance After Judge Torres Final Verdict

Meanwhile, XRP witnessed substantial gains whenever there were positive updates from the SEC v. Ripple lawsuit. For instance, the price of XRP spiked by over 70% after Judge Torres released the summary judgment decision. The asset’s price also increased by over 30% shortly after the final judgment was released.

Nonetheless, these gains have not been sustainable. At press time, XRP has plummeted 11.98% from the monthly high of $0.6416 registered on August 7, the same day Judge Torres released the final judgment. Currently, XRP is trading at $0.5647, marking a daily decrease of 1.61% and a weekly decline of 6.02%.

XRP 1D Chart

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