Crypto Analyst Forecasts XRP Price Post-SEC Lawsuit Resolution
The post Crypto Analyst Forecasts XRP Price Post-SEC Lawsuit Resolution appeared on BitcoinEthereumNews.com.
Crypto analyst Doctor Profit (@DrProfitCrypto) has published a XRP price prediction following Ripple’s partial victory over the US Securities and Exchange Commission (SEC) on Wednesday. The analysis, delivered to his substantial follower base of 311,000 on X, delves into the implications of the court’s decision and the technical outlook for XRP. Implication For XRP Doctor Profit began by revisiting XRP’s historical performance, emphasizing its resilience and significant milestones. He reminds his audience that XRP price surged an extraordinary 60,000% in 2017 and has maintained a top-ten position in crypto market capitalization rankings for a decade. This, he argues, underscores its stability and appeal in the volatile crypto market. Despite a 75% drop in its value following the SEC lawsuit in 2020, XRP has shown remarkable durability, he notes, maintaining its high-ranking market position amidst sweeping market pessimism and shifts towards other altcoins. Related Reading Yesterday’s legal victory is described by Doctor Profit as a “massive, bullish event” that provides much-needed regulatory clarity for XRP. He speculated on the positive ramifications of this outcome, suggesting it could lead to increased institutional adoption and potentially pave the way for an XRP exchange-traded fund (ETF). “This is a massive, bullish event due to the newfound regulatory clarity and the flood of bullish rumors that will follow. Is it far-fetched, to suggest that the SEC and XRP might be working on an XRP ETF behind closed doors? This aligns perfectly with my ETF approval ranking prediction: first BTC, second ETH, and third XRP—not SOL,” Doctor Profit claims. Related Reading He also proposes that the newfound legal clarity could spur partnerships and integration of XRP into further financial platforms and systems. “Do you know that Ripple has partnerships with over 300 financial institutions worldwide? The ripple network was tested in the European Central Bank and…
Filed under: News - @ August 8, 2024 8:14 pm