The crypto analyst, known for his accurate predictions, says that the positive course of the case will lead to additional rallies for XRP. A former US politician also said that the case will be parabolic for the entire altcoin market.
Following the latest developments, altcoin analyst reveals big price target for XRP
Cryptocurrency investors were quick to buy the latest developments from the XRP lawsuit. Crypto analyst nicknamed DonAlt expects significant upsides for XRP as the legal dispute between Ripple and the SEC intensifies. In late 2020, the SEC sued Ripple for issuing XRP as an unregistered security. DonAlt says in a recent post that XRP could stage a significant rally if Ripple wins in its legal battle with the SEC:
Overall, I’d like to put off buying this until the SEC news comes up because that’s the kind of story and one of the reasons why I’ve spent so much time thinking about buying it in the first place. If they win in the trial… I actually believe it will just go to the giga month… If that fails, a lot of people will reinvest. If I buy that pump, I’ll sell it to him. If Bitcoin looked solid at $21,000 and was just chilling, I’d keep it at $1 or $3 if not $2.
Technically speaking, XRP is currently trading close to a resistance level, according to DonAlt. However, it will still gain value depending on Bitcoin and how its case progresses, according to the analyst. The analyst says in part of the broadcast:
At this level, I believe you should sell here ($0.50)…or if that doesn’t work, I believe you should aim for $0.90. I believe there are, or are, realistic goals to achieve. If the SEC trial results are good, you should not sell. When selling, you want to do this until very high price levels or until the momentum stops, which I don’t believe will happen anytime soon.
The XRP price surged after both Ripple and the SEC submitted motions for the summary decision. The motions essentially ask the judge to take the position and adjourn the case without a jury. XRP is currently trading at $0.4881, down about 1.3% from yesterday.
