XRP is ready for another leg up with massive price movement, according to crypto strategist Ben Armstrong
Top analyst Ben Armstrong from Bitboy Crypto says that XRP is taking over banks with its recent developments and is ready for another price explosion.
XRP is on the attack
According to the trader, Ripple just turned up the heat last week with a “sneaky counterpunch”, a motion compelling the SEC to produce information about their employees’ crypto holdings, namely Bitcoin, Ethereum and, XRP.
“Why is it such a killer move? Because it’s illegal for anyone in the SEC to trade securities. That would be an obvious case of insider trading. So if the SEC believes XRP to be a security, then it’s a big no-no for anyone on the inside to dabble in XRP.”
Armstrong says that it turns out SEC staff were permitted to trade it as late as March 9 2019, and thereafter. Yet, SEC refused to produce any information and even counterfiled, calling it irrelevant. After that, SEC went on to explain that employees’ trading activity is collected by an ethics counsel, so handing over sensitive data would be a breach of their privacy.
Next for XRP
With the lawsuit done, the trader suggests that XRP should see some face-melting moves. As of now, according to the trader, XRP is back in the area of support and resistance that occurring across the year.
“The XRP Army knows exactly what they’re investing in and why they’re so bullish on the long-term potential. Because they know that while the legal fight was dominating the headlines, Ripple was making serious headway behind the scenes.”
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