Analyst Leveled! He Will Short-Sell That Altcoin!

Crypto Tony, the famous technical analyst of Twitter, made a prediction that surprised altcoin investors. Contrary to expectations, he said he was looking for a short position on XRP.

Crypto Tony seeks short opportunities on XRP chart

The technical analyst recently shared his views on the price action of XRP against the US Dollar. He stated on Twitter that XRP was rejected from the critical level of $0.826, creating a double top pattern. He stated that he will closely monitor the situation and will take a short position if XRP erodes the bottoms at $ 0.715.

XRP is currently trading at $0.7381, down 4.5% on the day. It gained more than 90% after its victory over the SEC on July 13. The XRP price rally is cooling off as the case is now under appeal. This opens the door to a big fix…

Despite this cautious stance, Crypto Tony remains generally optimistic in the market sentiment towards XRP. A price prediction by Changelly indicates more positive developments for XRP. According to the forecast, the value of XRP is expected to increase by 14.02% to reach $0.885258 by July 23, 2023. Crypto experts predict that the average XRP rate in July 2023 will be around $0.456, and the potential minimum and maximum price will be $0.419 and $0.492, respectively.

Recent regulatory developments have strengthened Ripple’s hopes of seeing greater adoption of XRP for cross-border transactions by US banks. On July 17, 2023, Ripple expressed confidence in the possibility of potential adoption by US financial institutions following the court’s favorable ruling against the SEC.

Unlike Crypto Tony, these 5 analysts are expecting a bang

The Ripple victory of July 13 brought with it high bar XRP price predictions. Some analysts expect extreme prices like $10 or $200. cryptocoin.comWe have included the current forecasts of 5 popular analysts in this article.

Altcoin market prepares for a new SEC lawsuit

The US regulator, the SEC, could contribute to another big wave of sales. This is because the US regulator is preparing to appeal against the recent Ripple decision. Recently, John Deaton, a pro-XRP attorney, evaluated what would happen in a possible appeal process. Another attorney, James K. Filan, reports that the US regulator is preparing to appeal the recent Ripple decision.

According to recent reports, the SEC is seeking a review based on the rulings in the Terra case. In other words, the SEC’s request is highly likely to be accepted. Along with a negative forensic outcome for the crypto market, such an outcome could cause prices to drop once again.