XRP price regained some momentum on Monday after subdued trading for a long time. However, the opportunity of the dip came up as a good scenario for those investors who wanted to take part in the “buy the dip” opportunity.
Research by Santiment highlights that following the price declines, the general opinion of Ripple (XRP) has drastically decreased. With FOMO at a 2024 low, patient traders who have been waiting for the masses to give up on the high-cap altcoins may now have their buy opportunity.
Why Is XRP Facing Low Investor Sentiment?
Over the past couple of days, the entire crypto market has experienced subdued trading and dampened sentiments. XRP also faced the wrath of the same. However, another contributing factor to the token’s pressured trading is a lack of cues for investors to access the coin’s trajectory.
That, coupled with the ongoing Ripple VS SEC lawsuit, has confused traders about XRP’s future potential. Ripple’s newest defense of a reduced fine has drawn criticism from the US Securities and Exchange Commission (SEC), which claims it is insufficient. When Ripple requested a penalty of “no more than $10 million” from Judge Analisa Torres of the United States District Court for the Southern District of New York on June 13, it referenced the SEC’s settlement with Terraform Labs. This amount is significantly less than the regulator’s suggested $876.3 million civil penalty.
The Ripple v. SEC legal case has had a significant impact on the price of XRP, a fact that all traders should be aware of. However, it’s important to note that not all traders are valuing the token solely based on its current legal troubles.
Despite a challenging week for digital assets, XRP has emerged as a standout in CoinShares‘ most recent weekly report on fund flows into crypto-focused exchange-traded products. XRP-focused investments saw inflows of $1.1 million, a positive trend that counters the overall outflows of $600 million from digital asset products. This consistent rise in investor interest in financial products associated with XRP is a promising sign of growing confidence.
Due to this, the token’s price increased by over 4%, currently trading at $0.5096 apiece. Despite this, the coin has fallen 2.7% in the last month.
