• Pseudonymous analyst behind the Twitter handle @CredibleCrypto states that XRP looks primed for volatility and is likely to hit between $20 to $30 in this bull cycle.
  • XRP consolidated for ten days, and despite a clear outlook on where the altcoin is headed next, analysts predict that a breakout is underway.
  • XRP worth $10.4 million was recently transferred to a Nexo account in a transfer that cost $0.000012, implying that XRP transaction fee is minimal and transactions on the XRP blockchain are scalable.

Historically the most significant gains in altcoins have appeared in the last leg of the bull run. Analysts expect a repeat of the XRP price action in the 2017 bull run where XRP was trading at $0.22 in 2017 and in one month it went up to $3.30. It went 10X in a month.

Per pseudonymous trader’s words, a similar rally is to be expected if the cryptocurrency breaks through its previous all-time high. At first, the price moving up by a factor of three or five is “very reasonable” taking into account the 10x surge in 2017, he said. The trader added he would only consider taking profits when XRP trades at $10.

He added that once XRP breaks the $3.4 mark and hits a new all-time high, it will enter a price discovery phase that would only end at $20 to $30, implying a massive 2,300% rally is possible for the cryptocurrency.

Credible Crypto added “the hardest part is getting back to all-time highs,” as then there will be “no sell pressure” and it will become “very easy to climb the ranks and to get higher and higher.”

The XRP community has closely followed developments in Ripple (the payments technology company behind XRP) v. Securities Exchange Commission (SEC) case. Since Ripple Labs owns a large percentage of XRP, nearly 60%, 60 billion of the 100 billion tokens in circulation, Ripple is intrinsically tied to the value of XRP.

Therefore, the outcome of the Ripple v. SEC case is expected to impact the altcoin’s price significantly. Based on the latest court proceedings, the “fair notice defense” is Ripple’s go-to strategy for a win in the case.

“Fair notice” means no person should be forced to speculate as to the meaning of statutes. All are entitled to be informed as to what the state commands or forbids.

Attorney Jeremy Hogan of Hogan and Hogan Law Firm analyzed the documents in the Ripple v SEC case and believes that the recent depositions have paved the way for Ripple’s win in the fair notice. The anticipation of a positive outcome is conducive to XRP’s price action in the following weeks.

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