Ripple's XRP is still not a long-term hold, but does have a unique medium-term profit opportunity because of the SEC lawsuit.Due to macroeconomic concerns and specific crypto disasters, the token price has decreased by 60% since my last update.Ripple has recently announced some interesting partnerships but the ODL volume metric reveals how poorly they are doing against SWIFT.The SWIFT network is still a formidable adversary and is not going away. Stablecoins and the Multi-CBDC project also threaten Ripple's business.Research in my first article attempts to show there's not enough real world adoption to justify a long-term position in Ripple's XRP token (XRP-USD). But there is a great opportunity to buy during the headwinds from the SEC lawsuit and sell on news of a settlement or legal victory.In this update we'll look at further chart declines, recent news regarding the token, and additional evidence that the XRP price remains unaffected by the increasing ODL volume or the multitude of partnerships.Market update and price actionWhen I wrote the May update article, the XRP price had experienced a moderate drop from $.77 to $.61. Since then the entire crypto industry has experienced turmoil around specific coins and institutions leading to cascading liquidations, huge waves of selling, and the destruction of almost a trillion dollars from the global cryptocurrency market cap. I chronicle that great implosion here.No coin -- incl...
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