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Recent volatility in the cryptocurrency market has caused XRP price dips, bringing the token to a low of $ 0.57.
According to the analytical company Santiment, the XRP price is now significantly understated relative to its fundamentals and has great potential for growth.
At the moment, the price of the token has risen to the level of $ 0.82, demonstrating a daily gain of 4%.
Our Strong & Oversold analyzer indicates that some assets are showing signs of declining prices relative to fundamentals.
Our requirements for this list include high market cap, volume, and address activity.
📊 Our ‘Strong and Oversold’ screener indicates some assets are showing signs of having suppressed prices compared to their fundamentals. Our requirements for this list include high market cap, volume, and address activity. $BTC $XRP $HEX $SHIB $WBTC $LTC https://t.co/CUCuCsS1ju pic.twitter.com/ZjWFjqzy3R
— Santiment (@santimentfeed) December 6, 2021
When the price of an asset falls sharply below its true or fair value, it indicates that it is oversold. This usually happens as a result of overreaction of the market or panic selling.
XRP started trading at $ 0.21 this year, although the token price dropped to a low of $ 0.16 in December 2020. This collapse is due to the SEC filing a lawsuit against the issuing company Ripple. The company is said to have raised funds in 2013 by selling unregistered securities in the form of XRP digital assets.
Since then, the cross-border payment token has come a long and difficult journey as many crypto exchanges have excluded XRP from their trading platforms. Now the price, bypassing all obstacles, is increasingly approaching the $ 1 mark.
Given the words of Ripple CEO Brad Garlinghouse about the possible completion of the lawsuit by next year, and in the company’s favor, investors are expecting positive XRP price results.
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