Alex Kruger, a crypto analyst, and economist, weighs in on the upcoming Ripple – SEC litigation verdict and its consequences for the crypto market.
From a price action standpoint, he believes a Ripple triumph over the SEC will result in an “alt season.”
Ripple winning over the SEC would translate into altseason, so follow that closely even if not long “The Standard”
— Alex Krüger (@krugermacro) March 29, 2023
“So follow that closely, even if not for as long as the Standard,” he said without explaining his meaning.
For new users unfamiliar with the term “altcoin season,” it refers to a time when the prices of altcoins skyrocket and outperform Bitcoin.
Numerous factors can contribute to a cryptocurrency boom, albeit the precise cause is difficult to determine. Experts believe that a positive trend in the top 20 prominent altcoins, in particular, might herald the beginning of an altcoin season.
David Gokhshtein, the founder of Gokhshtein Media, predicted that XRP and the entire cryptocurrency business would take off if Ripple won its lawsuit against the SEC.
#XRP w/o a doubt is the answer to the question👇 1st, slammed as a Bankers Coin – the opposite of what #Bitcoin stood for (originally). 2nd, called a shit coin by @VitalikButerin. 3rd, labeled a security by the SEC and thus, declared dead. In the end, #XRP is the comeback coin. https://t.co/8fA2nC1CCt
— John E Deaton (@JohnEDeaton1) March 28, 2023
XRP has the most appealing risk/reward ratio, according to pro-Ripple lawyer John Deaton, and its price might surge if the court rules in favor of Ripple in its ongoing legal struggle with the SEC.
Deaton refers to XRP as the “comeback coin” in a new tweet, citing the criticism and hurdles it endured due to the SEC litigation.
XRP/USD 4-hour chart | Source: TradingView
XRP went up 20% in the last 24 hours to $0.5404 at the time of writing, exceeding big cryptocurrencies like Bitcoin and Ethereum and the rest of the top ten in daily and weekly gains.
Read more:
- XRP Price Set To Mark Its Fourth Consecutive Day Of Gains, Preparing For Another Increase?
- XRP Dominates Korean Crypto Exchange With Surge In Price And Trading Volume
- XRP Surges To Five-Month High At $0.502 Despite Crypto Market Decline