A widely followed crypto strategist predicts that the XRP price will gain an upward momentum following the positive decision in the Ripple case. Here are the details.
Ripple is a financial technology company and a platform that also has its own digital asset called XRP. In recent years, the American Securities and Exchange Commission (SEC) has sued the company, alleging that Ripple’s XRP should be considered a security. This case has had a major impact on the legal status and regulation of cryptocurrencies.
However, recent developments have provided a glimmer of hope in this regard. In the Ripple case, the court ruled that Ripple’s open market altcoin sales cannot be considered securities.
In this context, the analyst, known by the crypto market under the pseudonym Credible Crypto, claimed that the fear, uncertainty and suspicion (FUD) surrounding XRP is no longer an issue. The analyst predicts that the positive decision in the Ripple case will support the XRP price and add some upside momentum. Following the decision, investors and the cryptocurrency community began to have more confidence in Ripple’s future.
According to the popular trader, XRP will likely reclaim its place as the third-largest digital asset within the next year. will receive.
“The XRP security FUD has come and gone, throughout all of this XRP has remained among the top five cryptos by market cap.
Whether you like it or not, it has proven to have lasting power and I have no doubt that it will again be among the top three cryptocurrencies in the next 6-12 months.”
At press time, XRP is the fourth largest crypto asset with a market cap of over $39.26 billion. Stablecoin Tether (USDT) is in third place with a valuation of approximately $83.67 billion. XRP needs to more than double its value to get to the third place.
Apart from the popular altcoin, the analyst also examined the leading cryptocurrency Bitcoin. According to the analyst, Bitcoin’s continued consolidation around $30,000 should not be considered a sign of weakness. According to Credible Crypto, Bitcoin could take a short break to trap the bears before continuing its uptrend.
“In the last month many people [hisse senetleri] He was talking about the ‘weakness’ of BTC while exhibiting volatility. I pointed out that consolidation should not be confused with ‘weakness’. This was followed by a single weekly candle that erased two months of bearish price action.
This week, I hear once again about the ‘weakness’ of BTC after the positive outcome in the Ripple case, the large ETF (exchange-traded fund applications, etc.).
I’ll repeat it once again – don’t confuse consolidation with weakness. We may *see* a fakeout before growth* but – make no mistake – growth is coming, and the longer Bitcoin consolidates before that growth, the stronger it will be when growth does.”
You can follow the current price action here.