Despite recent price drops, dragging XRP’s value down to $2.15 and triggering a wave of significant liquidations worth over $13.9 million in long positions, analysts are seeing a different picture. This shakeout has left the market seemingly unsettled, with short-sellers being largely unaffected. However, XRP is bouncing back to $2.20, where it finds crucial support, setting the stage for some key developments that may propel its price significantly higher. 2023’s price movement for XRP doesn’t seem like a typical bull run. Crypto analyst John Squire believes that XRP isn’t dead; it’s simply building up and preparing to take off. He points to several factors contributing to this optimism, such as the years of development behind XRP and the ongoing legal battle against the SEC. 2023 saw a partial victory for Ripple in its legal dispute with the SEC and a recent pause on their appeal could pave the way for full legal clarity soon. This would allow XRP to become one of the few major cryptocurrencies fully cleared to work with US banks, opening doors to new opportunities.