Crypto strategist says XRP could blow after its SEC brawl – Here’s his argument
- A top analyst has predicted that XRP will ‘rocket’ after the pending legal issues with the SEC are resolved
- Credible Crypto, as he is known on his socials, predicted XRP to peak the $20 to $30 range in this cycle
A largely-followed crypto analyst and trader has predicted that XRP will explode after the legal matters between Ripple Labs and the US Securities and Exchange Commission (SEC) are settled.
The pseudonymous crypto analyst, Credible Crypto, recently linked up with Thinking Crypto’s Tony Edwards and analysed a few coins based on their performance in the market, including the Ripple-affiliated XRP.
Analyst advises getting in before its too late
The crypto strategist observed that at the moment, XRP is looking bearish in the charts, and he expects its price level to deteriorate even further. However, he noted that XRP’s fundamentals are spewing optimism, and they would eventually give it a much-needed turnaround. This will happen when XRP’s parent company Ripple Labs, puts its current legal battle to bed.
In December 2020, the SEC charged Ripple Labs over claims of selling $1.3 billion worth of unregistered securities. Credible crypto anticipates that the final resolution would be one in favour of Ripple, which will, in his opinion, boost the price of XRP.
The crypto strategist advised that traders invest in it rather than watch from the sidelines.
“When the case does get settled, you can expect XRP’s price to absolutely pop. So, if you’re waiting to hear the outcome of the case to jump in, you’re going to be too late. So, you’re placing your bets right now and if your bet pays off and XRP wins, XRP is going to rocket, and then everything else is at the mercy of the SEC, and we don’t know what’s going to happen.”
XRP is headed to $20
On XRP’s possible peak, Credible Crypto says that before the SEC’s suit against Ripple, his predicted price point was around the $20 to $30 range.
Even though the SEC’s suit has affected XRP in the short-term and the mid-term, he still retains the same price target (for this cycle) but noted that it could take much longer before the target is achieved.
He also cautioned that his $20 to $30 price range was not correlational to Bitcoin. He explained that XRP is now on an independent cycle, at the end of which it could reach the said price. The analyst disclosed that the time frame for this range could be well into 2023, unlike Bitcoin, which could top at the end of the year.
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