A closely followed cryptocurrency analyst has suggested that Ripple (XRP) will likely witness a capital influx following the positive decision in the SEC case against the company.
The expert analyst, known by the pseudonym Credible Crypto, stated on Twitter that the fear, uncertainty, and doubt (FUD) surrounding XRP is no longer a problem after Judge Analisa Torres ruled that open-market XRP sales are not securities transactions.
According to the cryptocurrency analyst, XRP will probably reclaim its position as the third-largest digital asset within the next year. The expert stated:
The security FUD came and went, and throughout all of this, XRP continues to be among the top five cryptocurrencies by market value. Love it or hate it, it has proven to have staying power, and I have no doubt that it will be back among the top three cryptocurrencies within the next 6-12 months.
At the time of writing, XRP was recorded as the fourth-largest cryptocurrency with a market cap exceeding $39.26 billion. Stablecoin Tether (USDT) ranks third with an approximate valuation of $83.67 billion. Credible Crypto suggests that XRP’s price could increase by more than double in the coming months.
Bitcoin Forecast!
Following Ripple, the expert analyst turned to Bitcoin and stated that the ongoing consolidation around $30,000 is not a sign of weakness. According to Credible Crypto, Bitcoin may experience a short dip to trap bears before continuing its upward trend. The analyst stated:
Last month, I saw many people discussing the ‘weakness’ of BTC while stocks were fluctuating. I emphasized that consolidation should not be mistaken for ‘weakness.’ It was followed by a single weekly candle that erased two months of downward price movement. This week, I will reiterate the same message with the Ripple case and the potential for major ETF (Exchange-Traded Fund) filings, etc. Do not confuse consolidation with weakness.
