XRP Poised for ‘Inevitable Mega Run’ After SEC Settlement, Says Crypto Analyst
A prominent crypto analyst is expressing bullish sentiment on XRP, the token used to operate Ripple Labs’ payments platform, following its recent settlement with the U.S. Securities and Exchange Commission (SEC).
The SEC first sued Ripple in December 2020, claiming that the firm was selling unregistered securities.
According to Credible Crypto, a pseudonymous trader with over 408,700 followers on X, XRP is now set for an explosion now that its legal troubles are over. In a recent thread, Credible Crypto stated that XRP’s recent $125 million fine marked the end of its legal bout with the SEC, paving the way for a ‘mega run’ that will take the token to new all-time highs.
XRP remains a top-10 crypto by market capitalization. It doesn’t matter what you or I think about its usefulness- the market, as a collective, is telling you that they value it more than 99% of this space, and that’s a fact.
The market capitalization of XRP has remained high despite its recent troubles.
XRP is currently trading at $0.614, down from its all-time high of $3.40 set in January 2018. However, Credible Crypto believes that the token is due for a significant price increase, stating that ’new all-time highs are a matter of when, not if.’
It will have its time in the spotlight again whether you like it or not.
Bitcoin and Ethereum Outlook
Credible Crypto also shared his outlook on Bitcoin and Ethereum, stating that the flagship crypto asset is primed to ‘push for another leg to the upside again’ amid a shift in market sentiment.
Fresh bids stacked below price now while asks above have been removed. Books are now skewed more heavily on the bid side.
Bitcoin is currently trading at $57,942, down by 10% over the past seven days.
The price of Bitcoin has been fluctuating in recent days.
Concluding his analysis, Credible Crypto stated that Ethereum is likely to behave differently from Bitcoin over the short term and find a lower low.
Gut feeling is that bottom is probably in on BTC but that ETH will make one more marginal lower low.
Ethereum is currently trading at $2,468, down by 23% over the past seven days.
The price of Ethereum has been declining in recent days.
