Ripple’s most recent quarterly report reveals significant information about its XRP holdings and market activities, providing a comprehensive look at its current position and strategies.
Let’s analyze the company’s report for Q2 2024.
Current XRP Holdings
Potential Scenarios
XRP’s Standalone Performance
Moving on, XRP’s Q2 fluctuation is also highlighted in the report. Realized volatility remained above 90% for most of the period before falling to 45%. This shows that the XRP market is wild and highly unpredictable.
On-chain activity on the XRP Ledger was lower compared to the last quarter, indicating a potential shift in network usage. Despite this, Ripple continues to pursue its initiatives, including revealing the name of its stablecoin. Concurrently, the company remains engaged in its prolonged legal battle with the SEC, a critical issue for its future operations.
Giving Back To SEC!
The report also addressed some misconceptions about the court ruling. First, it clarified that the decision was not a split decision but rather a resounding win for Ripple and the crypto industry. Second, it clarified that XRP itself is never a security; however, when combined with specific promises or arrangements, it might be considered an investment contract. The court ruled that XRP, as a standalone digital token, is not a security.
Though Ripple’s Q2 reveals the company’s strong financial holdings, there are still some doubts about the XRP breakout after the resolution! Also, XRP’s supply is limited, and a wider adoption may worsen the situation. What do you think?
