A widely followed cryptocurrency analyst shared his comments about XRP. He says he maintains his belief in a bullish stance for XRP until the altcoin reaches its price target. Here are the details…
The analyst explained the ranges he followed for the altcoin
DonAlt says that XRP broke a critical resistance at $0.40 and is very narrow between where it is now and the $0.60 range. The analyst points to the XRP/USD pair, indicating that it broke out of the $0.40 high and stalled at $0.50. He says the wider resistance is at $0.60. While emphasizing the importance of breaking $0.40 in the short term, he advocates holding XRP until at least $0.60 is seen. The analyst also uses the following statements:
Considering that these levels are close and also the recent green candles in cryptocurrencies, there is another step up. In case the upside is invalid, total loss of momentum and/or movement below breakout levels are observed.
XRP is on the agenda due to SEC lawsuit
Last week, DonAlt said that XRP is mostly bullish due to the optimism surrounding Ripple Labs’ lawsuit with the US Securities and Exchange Commission (SEC). As we reported as Kriptokoin.com, both sides of the case applied for a summary decision. The analyst mentioned a price target as high as $3 or about 650 percent above current levels. The analyst used the following statements:
In general, I want to hold XRP until the SEC news heats up because it points to this kind of narrative. It’s one of the factors that makes me want to buy this thing, and I’ve actually held the altcoin for this long. If they win the case… I think it will be a huge boost… If the case goes in favor of Ripple, a lot of people will buy the coin again. I’ll sell at that pump too… If Bitcoin looks solid at $21,000, I’d hold the coin until it’s $1 if not $2 or $3.
The analyst had correctly predicted certain levels
cryptocoin.com As we have also reported, the analyst reported the $ 6,100 seen in March in the past years. He also correctly predicted that Bitcoin would rise 44 percent at the beginning of January. On February 12, it marked the peak where BTC rose above $10,300. Meanwhile, the value of XRP stands at $0.43, up 3.6 percent. So, it has managed to stay above the $0.40 mark pointed out by the analyst. XRP is one of the biggest coins that has risen the most on a weekly basis, with an increase of 10.2 percent in the last 7 days.
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