XRP Set for a Significant Surge
A prominent crypto analyst, known as Credible Crypto, has predicted a sharp rise for the altcoin XRP. XRP, linked with Ripple Labs, is set for what he describes as an "inevitable mega run" after resolving its legal issues with the U.S. Securities and Exchange Commission (SEC). This prediction follows the conclusion of a legal battle that ended with Ripple Labs paying a hefty $125 million fine.
To give you an idea, XRP's current price stands at $0.614. To surpass its all-time high of $3.40, which was last seen in January 2018, it would need an increase of approximately 454%. Over the past day, XRP has already seen a 19% rise.
Credible Crypto emphasized that XRP remains a top-10 cryptocurrency in terms of market capitalization. This indicates that the broader market values XRP more than 99% of other digital assets, underscoring its potential to rise in prominence again.
Bitcoin's Positive Outlook
In the realm of Bitcoin, the leading cryptocurrency, Credible Crypto anticipates another upward move. He notes a shift in market sentiment, where buying interest (bids) is strong below current prices, and selling interest (asks) has decreased. This shift suggests a potential rise in Bitcoin's price. Currently, Bitcoin trades at $57,942, albeit with a drop of 10% over the past week.
Ethereum's Divergent Path
Regarding Ethereum, another major digital asset, Credible Crypto suggests it may behave differently than Bitcoin in the short term. He believes Ethereum could experience a slight dip, reaching a lower low before stabilizing. Ethereum is presently priced at $2,468, having decreased by 23% over the last week.
Disclaimer
The viewpoints shared by Credible Crypto aren't intended as investment guidance. Individuals should conduct thorough research before engaging in high-risk investments in cryptocurrencies like Bitcoin and Ethereum, among other digital assets. Remember, the responsibility for any financial loss rests solely on the investor.
