How the Ripple vs SEC Lawsuit Outcome Could Skyrocket XRP Prices?
The post How the Ripple vs SEC Lawsuit Outcome Could Skyrocket XRP Prices? appeared on BitcoinEthereumNews.com.
Doctor Profit, a prominent XRP investor, has shed some light on a comprehensive report published by BloFin on the long-term potential of XRP. According to the analyst, XRP is designed for long-term investors rather than those seeking quick gains through day trading. The coin has shown significant resilience, maintaining a spot in the top 10 cryptocurrencies despite a harsh 75% drop in 2020 due to the SEC lawsuit. $XRP – The Big Report: Everyone who knows me understands that I’m a major investor in XRP. This report is going to lay out the facts and show you exactly where we’re heading next. XRP is a masterpiece for the long term. If you’re thinking of making a quick buck with day trading… pic.twitter.com/w6ww9uSE6v — Doctor Profit 🇨🇭 (@DrProfitCrypto) August 7, 2024 With Legal Clarity, Will Xrp Go Back to Pre-SEC Days? To back his stance, analysts went to the pre-SEC era, when XRP soared by 60,000% in 2017. Notably, it has remained in the top 10 cryptocurrencies for a decade despite a 75% drop in 2020 due to the SEC lawsuit. Although it hasn’t regained its 2017 peak of $3.20 and missed the 2021 bull run, XRP’s resilience is notable. Moreover, with over 300 financial institution partnerships and potential involvement in CBDCs, XRP is well-positioned for future growth. The analyst is confident that the recent court ruling that XRP is not security marks a major positive shift, providing much-needed regulatory clarity. This change could open the doors for an XRP ETF and renew interest from big investors who were previously hesitant about legal uncertainties. Technically XRP Price Is to Rise With a Year! However, his technical analysis suggests that XRP is poised to touch new heights. The chart shows a resistance level at $0.72, with a breakout potentially leading to a…
Filed under: News - @ August 8, 2024 7:26 am