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XRP Could Explode by Up to 200%, Predicts Analyst Who Nailed Bitcoin’s 2022 Bottom – But There’s a Catch
A popular crypto analyst believes that XRP is primed for a triple-digit rally as a decision on the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple nga whatu.
Ko DonAlt te kaitātari pseudonymous ka korero 50,900 subscribers of the TechnicalRoundup YouTube channel that XRP has a potential upside of over 100% from the current levels.
DonAlt says he has resumed buying XRP after taking profits on positions he entered in November of 2022.
“I’ve been re-buying my XRP in here [above the $0.475 level], basically on the way up because I think the XRP narrative could come in rolling again. The SEC case is getting closer and closer.
I think basically if you have a stop loss on this thing, the upside is like a double to a triple. And the downside is like… 10 – 15%.
And the outcome of the case, or even if it’s like just barely positive news right… it doesn’t even have to be the outcome. If there’s just like a frown on the judge’s face while the SEC is talking, basically you’re gonna see quite a massive pump. And so like that risk-to-reward seems decent.”
Puna: HangarauRoundup/YouTubeThe analyst, however, urges caution as the XRP trade is not risk-free.
“Obviously, you have to be careful on this as well. Easy way to lose a bunch of money.”
According to DonAlt, the bullish thesis for XRP will be invalidated if the sixth-largest crypto asset by market falls below $0.46.
“What’s the invalidation for XRP? Fall back below $0.46 on the weekly [chart]. Like if we start losing this horizontal support [at around $0.46], we’re probably going to lose this diagonal [ascending trend line] too.”
Kei te hokohoko a XRP i te $0.506 i te wa e tuhi ana.
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