Ripple’s Rise and the Return of Litto: Can Investors Trust Again?

Ripple (XRP) Surges, Sparking Hope for Future Growth

Seoul, South Korea – By Jiyoung Lee, NewSis Reporter

Have you heard of Litto? It’s a term coined to mock domestic investors who fell for Ripple’s previous hype at the end of 2017. Litto stands for ‘Are you tricked by Ripple again?’ and portrays Ripple as a popular coin in the domestic market.

Remarkably, Litto is once again making headlines, six years after its inception. On the 14th, Ripple (XRP) skyrocketed by 100% in a single day, breaking out of the coin stocks category (coins priced under 1,000 won). It took 454 days for Ripple to regain its foothold above the 1,000 won mark. Notably, domestic traders, who consider Ripple a popular domestic coin, have mixed reactions, with some expressing skepticism by saying ‘It’s not in Litto’ and others believing that ‘It’s different this time’.

Currently, the latter viewpoint seems to be gaining more traction due to solid arguments. The recent surge is believed to be rooted in resolved securities risks that have previously hindered Ripple’s progress. In fact, Ripple’s rally coincided with the US court ruling that stated, “Ripple is not a security.”

Anticipation for further growth is also mounting. Although Ripple briefly experienced a setback, dropping to 900 won after the sudden surge, it quickly rebounded to 1,000 won. This quick recovery offers a glimmer of hope for a new all-time high.

Ben Armstrong, operator of the popular YouTube channel, BitBoy Crypto, tweeted on the 20th, stating that “a reasonable price of $15 (19,260 won) for Ripple could be achieved within 18 months.” Based on Ripple’s current price ($0.83), this represents a potential increase of 1,700%, and $35 would signify a staggering 4,100% surge.

Even the US Republican presidential candidate, Patrick Riley, expressed his optimism for “Ripple Greats.” He tweeted, “If Ripple trades at $11 (equivalent to a 14,129% gain), it will surpass Bitcoin’s market cap.”

Another factor fueling positive sentiment is the mitigation of remaining legal risks. The recent settlement of the lawsuit between the Securities and Exchange Commission (SEC) and Ripple has diminished the possibility of an SEC appeal, frequently mentioned as a setback to Ripple’s record-breaking performance.

However, some analysts predict a potential correction in the Ripple market, backed by the resistance flow visible on the weekly price chart and an overbought relative strength index (RSI). Cointelegraph, a media outlet specializing in virtual assets, highlighted this risk on the 21st.

Despite these concerns, Ripple has managed to maintain its newfound stability, holding onto the gains made above 1,000 won for a week since the resolution of securities risks.

As coin investors, it is essential to acquire in-depth knowledge about the market. By uncovering hidden information alongside the latest updates, you can safeguard your coin wallet. Coin World, a section dedicated to providing unofficial news and insider stories, aims to equip readers with the necessary knowledge to succeed in the cryptocurrency world.

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Good articles to look at:

• Gensler driven into ‘open water’… Storm after Ripple verdict – Dohyeong Kwon also claims innocence
• “The US SEC seems to have decided to appeal the Ripple ruling” – The Block

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[서울=뉴시스 이지영 기자] Do you know Litto? It is an abbreviation of ‘Are you tricked by Ripple again’. It is an expression created to mock domestic investors who were bitten by Ripple, which was always in place after soaring at the end of 2017. It also implies that Ripple is a popular coin in the domestic market.

We are talking about it again 6 years after the birth of Ritto Sok. This is because on the 14th, Ripple (XRP) rose 100% in one day and broke out of coin stocks (an item with a price of less than 1,000 won). It took 454 days to recapture the 1,000 range gained. In particular, since Ripple, which is considered a popular domestic coin, has been upset in a few years, domestic coiners have mixed reactions such as ‘It’s not in Litto’ and ‘It’s different this time’.

So far, the latter is gaining strength. This is because of the solid material. It is evaluated that the basis for the increase is sound in the sense that the ‘securities risk’ that has been holding Ripple back until now has been resolved and increased. In fact, the point Ripple started running was right after the US court said, “Ripple is not a security.”

Expectations for further growth are also growing. Because of the elasticity it was pushed back to 900 won by an adjustment immediately after the surge and quickly recovered to 1,000 won. Unlike the days of Ritto Sok, there is even hope of a new high as he quickly turned up.

Ben Armstrong, the operator of the YouTube channel of the famous virtual asset BitBoy Crypto, said on his Twitter on the 20th, “Ripple’s price of $ 15 (19,260 won) is a reasonable price that can be reached over 18 months.” Based on Ripple’s current price ($0.83), $15 is a 1700% increase and $35 is a 4100% increase.

The US Republican presidential candidate also expressed his expectations for the ‘Ripple Greats’. US Republican presidential candidate Patrick Riley also said on his Twitter that day, “If Ripple trades at $11 (gain 14,129), it will surpass Bitcoin’s market cap.”

Among these, the fact that the remaining ‘legal risk’ as a variable in Ripple’s price has been mitigated also encourages positive views. This is because the possibility of an SEC appeal has diminished as the US court ordered the settlement of the lawsuit between the Securities and Exchange Commission (SEC) and Ripple. The industry has cited SEC appeals as a setback to Ripple’s record high.

However, there was also a view that a drop was predicted on the chart. Citing Ripple’s weekly price chart on the 21st, Cointelegraph, a media specializing in virtual assets, said, “The resistance flow along with the overbought relative strength index (RSI) increases the risk of a Ripple market correction.”

Meanwhile, Ripple has maintained the range gained from 1,000 so far, a week after resolving the securities risk.

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Latest news via Block Media Telegram (click)

good article to look at

Gensler driven into ‘open water’ … Storm after Ripple verdict – Dohyeong Kwon also claims innocence

“The US SEC seems to have decided to appeal the Ripple ruling” – The Block

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