A closely followed crypto analyst reported that Ripple’s digital token XRP has one of the best looking charts in the crypto market right now.
Speaking in a new strategy video posted on his YouTube channel, analyst alias DonAlt stated that he is ready to buy XRP if the crypto market faces new selling pressure.
“If Bitcoin breaks down, the only cryptocurrency I want to buy is XRP.”
The popular analyst is looking forward to XRP trading at or below $0.38 again to make more purchases. However, he thinks that this is highly unlikely given the current bullish pattern and trend of the altcoin price.
“I’m just looking at the chart [ve] I think it looks like it wants to go up.”
DonAlt also noted that the altcoin forecast goes beyond the charts. The crypto analyst is confident that cross-border payments firm Ripple, which oversees the distribution of XRP, will win the ongoing lawsuit with the United States Securities and Exchange Commission (SEC). Moreover, once Ripple wins the case, the embattled digital asset will see a meteoric price increase.
“I still think they’re going to win the case, so any dip in crypto, I think, will push XRP. I know the Bitcoin trading pair (XRP/BTC) looks really good too. One of the best looking charts in crypto right now.”
According to CoinMarketCap, at the time of this report, the altcoin is trading at $0.5402, up 1.82% in the last 24 hours and 16% in the past 7 days.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.