• Assessing the impact of the latest judicial ruling on XRP investor sentiment.
• XRP supply distribution reveals the current state of XRP accumulation and distribution.

This week has been quite the rollercoaster for the crypto market and especially for Ripple [XRP]. It is thus important to recap and assess the state of Ripple and XRP as the week approaches its conclusion.

Is your portfolio green? Check out the XRP Profit Calculator

XRP’s crash especially during the trading session on 17 August was due to an announcement that the court will allow the SEC to appeal a previous ruling. The market reacted to this news by dumping XRP because revisiting the legal battle means there is a chance the ruling might change against Ripple.

JUST IN: Judge Torres has APPROVED the @SECGov‘s appeal to file an interlocutory appeal in the #Ripple case. pic.twitter.com/rYRx0XL78e

— WhaleWire (@WhaleWire) August 17, 2023

Perhaps even more noteworthy was that the consequent reaction pushed the bears out of their recess. XRP previously gave up gains achieved when the judge initially ruled in Ripple’s favor.

The market reacted accordingly with a massive demand surge. Now the latest news has extended the downside. Thus, XRP has now given up gains from the previous rally in July. Let’s take a look at how XRP faired in the last seven days.

According to CoinMarketCap, its market cap peaked as high as $33.62 billion at the start of the week. It dropped as low as

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Author: Michael Nderitu

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