One of the closely followed analysts in the cryptocurrency world, Credible Crypto, made positive comments about XRP, a high-volume altcoin. The analyst also commented on the current outlook for Bitcoin (BTC) and Ethereum (ETH).
Very Positive for XRP
Anonymous cryptocurrency analyst Credible Crypto told his followers on X that XRP, used on Ripple Labs’ payment platform, is ready for an inevitable “mega rally” as its legal issues come to an end.
According to Credible Crypto, after its legal battle with the U.S. Securities and Exchange Commission (SEC) ended with a $125 million fine, XRP is now poised for a significant surge. The analyst emphasized that reaching new all-time highs for XRP is only a matter of “when,” not “if.”
XRP is currently trading at $0.614 and needs to rise approximately 454% to surpass its all-time high of $3.40. Altcoin has risen by 19% in the last 24 hours. The analyst noted that XRP is among the top 10 cryptocurrencies by market cap, suggesting that the market values this altcoin more than 99% of other cryptocurrencies, and predicts that XRP will be back in the spotlight.
The SEC first sued Ripple in December 2020, alleging that the company conducted unregistered securities sales. Although the lawsuit caused a significant stir in the cryptocurrency market and put pressure on the market, it ultimately concluded in Ripple’s favor.
Analyst’s Comments on Bitcoin and Ethereum
Turning to Bitcoin after XRP, Credible Crypto said the largest cryptocurrency is ready for an “upward move” with the change in market sentiment. The analyst stated, “New demands have piled up below the price, and the sell orders above it have been removed. Order books now lean more heavily on the demand side.”
Finally, looking at the altcoin king Ethereum, the analyst predicts that ETH will behave differently from Bitcoin in the short term and will likely form another lower low. Ethereum is currently trading above the $2,600 threshold and has fallen by 16% in the last seven days.
