XRP Bulls Anticipate Long-Due Price Rebound Despite Stagnant Growth

According to U.Today, XRP has been relatively static this month, despite efforts to reverse the negative growth trends that June has historically seen. However, XRP bulls are hopeful for a long-awaited price rebound that could see the coin retest its highest level over the past year, which stands at $0.8875. While XRP has been striving for price growth, the efforts of XRP Ledger developers have not resulted in significant price increases. Despite the launch of the Automated Market Maker (AMM) engine and the establishment of several functioning pools on the Ledger, XRP's price has remained within the $0.4879 and $0.5561 range over the past month. The Ripple escrow lockup has also not influenced XRP's price in the most favorable ways. Despite millions of XRP being locked up and released from escrow monthly, this has only resulted in an optimal level of dilution that has helped maintain XRP's liquidity demands. Market observers are expressing concerns about XRP's growth trajectory, particularly in light of the ongoing lawsuit between the United States Securities and Exchange Commission (SEC) and Ripple Labs, the blockchain payments firm associated with XRP. There are increasing calls for more decentralized applications (dApps) on the XRP Ledger to help stimulate demand for XRP and, consequently, its price. Many analysts view the slow growth in XRP's price as a latent period, as the coin is often favored by whale transactions, which typically involve billions of XRP being traded daily. When these factors converge, analysts are optimistic that XRP's price will not only surpass the $1 mark, but may also retest its all-time high of $3.84.