A popular crypto analyst believes XRP is poised for a triple-digit rally, based on the US Securities and Exchange Commission’s (SEC) lawsuit against Ripple. Is such a rally possible for the popular altcoin? Details are here.
The analyst, known by the pseudonym DonAlt, positively assesses the future of XRP regarding the SEC’s litigation process against Ripple. Ripple has been in a legal battle with the SEC for a long time, which has led to a significant drop in the altcoin price. However, according to DonAlt, a massive rally in the price of XRP is expected if a decision in favor of Ripple comes out as a result of the lawsuit.
The analyst said that XRP has a potential increase of over 100% from current levels. Moreover, the analyst also announced that he continued to buy XRP after profiting from the positions he entered in November 2022.
“Here [0.475 dolar seviyesinin üzerinde] I’m buying XRP again, basically in an uptrend because I think the XRP narrative will come up again. The SEC lawsuit is getting closer and closer. (…)
And even if the outcome of the case is, or barely positive news… it doesn’t even have to be the outcome. If the judge has a scowl on his face as the SEC speaks, you’re basically going to see a pretty big spike.”
DonAlt highlights that XRP has the potential to increase over 100% from current levels. This means that the popular altcoin could appreciate twice or more than its current price. According to the analyst, the potential future returns of XRP for investors could be quite attractive.
Besides these, the analyst urges caution as XRP trading is not risk-free. According to DonAlt, if the sixth largest crypto-asset in the market falls below $0.46, the bullish thesis for the altcoin may be invalidated.
“What is an override for XRP? Weekly [grafikte] A reversal below $0.46. For example, this horizontal support [yaklaşık 0.46 dolar] if we start to lose this diagonal probably [yükselen trend çizgisini] We lose too.”
XRP is trading at $0.506 at press time.
You can follow the current price action here.