- Analysts' Confidence in XRP
- Impact of SEC Lawsuit on XRP's Trajectory
- Grayscale's Alternative Selections
Crypto analyst Tony Edward suggests that despite ongoing criticisms, XRP is poised for a parabolic rise. In a video published on his YouTube channel, Edward shared insights on how high XRP could climb once it begins its bull run.
Analysts' Confidence in XRP
In a post, Tony Edward acknowledged that critics will continue their scrutiny, yet he pointed out that charts indicate positive signs for the coin. This statement aligns with the optimistic analysis provided by crypto analyst CrediBULL Crypto regarding XRP’s price. CrediBULL Crypto indicated that a roughly seven-year consolidation pattern forming on higher timeframes is nearing its end. The analyst emphasized a pattern he referred to as 'the mother of all bull flags' on the XRP chart.
Impact of SEC Lawsuit on XRP's Trajectory
The SEC’s lawsuit against Ripple may be crucial in determining whether XRP will enter a bull run. CrediBULL Crypto remarked that the lawsuit, initiated in 2020, has contributed to XRP’s price decline and hindered the coin from reaching a new all-time high during the 2021 bull cycle. Analysts are currently evaluating whether the SEC will appeal Judge Torres’s ruling on programmatic sales by October 7. This decision could negatively impact XRP’s price.
Grayscale's Alternative Selections
Some market experts express skepticism regarding Grayscale’s decision to exclude XRP from its top 20 crypto selections for Q4. Instead, it has included lower market cap coins such as SUI, TAO, and CELO. Currently, XRP’s price hovers around $0.59, showing a decline in the last 24 hours. The coin has recorded less than a 1% price increase over the past week.
The future of XRP continues to be shaped by the SEC’s upcoming ruling and the predictions of market analysts.
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