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Kaj Leroy, CEO and founder of XPUNKS NFTs and onXRP, finds the current narrative around XRP “very interesting.” He shared a list of reasons why he believes “chances would be greater to have a good December” for XRP.
The narrative around XRP is very interesting at the moment:
— Kaj (@BradPunkhouse) November 22, 2023
– We have an old Rippler being the CEO of Binance now.
– XRP is deemed a non-security and is not even named in lawsuits as a security anymore.
– We just skipped a bullrun and never reached all time high for a long… pic.twitter.com/A6OfYb3C3P
At the top of the list, Leroy claimed that the new Binance CEO, Richard Teng, is “an old Rippler.” Former Binance CEO Changeng Zhao resigned recently and pleaded guilty to violating U.S. regulations.
The second reason why Leroy claimed he was bullish on XRP is because the token was deemed a non-security. In the case between Ripple and the U.S. Securities and Exchange Commission (SEC), Judge Analisa Torres claimed that XRP itself is not a security. At the same time, some sales fell under investment contracts. Leroy added that XRP “is not even named in lawsuits as a security anymore.”
Furthermore, discussing the current market state, Leroy believes that XRP “skipped a bull run and never reached an all-time high for a long time.” Additionally, he stated that since the last bull run, building activity has increased significantly.
Notably, XRP has recently gained approval from the Dubai Financial Services Authority to be used by financial institutions in their transactions. XRP has joined BTC, ETH, and LTC in the list of recognized tokens.
Leroy mentioned another factor that’s setting a good narrative for XRP, which is that it has non-fungible tokens (NFTs). However, the NFTs are represented as an NFToken object on the XRP Ledger, according to their website.
Moreover, Leroy claimed that the XRP community is supportive, saying, “The community remains extremely based.” Interestingly, he added that XRP is “going to the physical moon in January.”
“Historically, especially in the last five years, December was not a great month for XRP. With December 2020 being the obvious one,” concluded Leroy. However, he predicted that December of 2023 would be good.
At the time of press, XRP was trading for $0.6131 after a 3.10% gain in the previous 24 hours. Nonetheless, the current price is considered a 5.01% decrease in the weekly chart, and the trading volume has plummeted 25.84%.
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