Famous crypto strategist Credible Crypto, who has a huge following on Twitter, is bullish on Ripple (XRP). According to the analyst, XRP can now hit the top $30 in December. However, the analyst emphasizes that XRP will start to take some profit as it approaches $10 due to the uncertainty regarding the SEC situation.
Credible Crypto: Did I mention I thought XRP was going to explode?
The veteran trader, known as “Credible Crypto” in the market, tells his 113,100 followers that the cryptocurrency is likely to rally against Bitcoin in the short term. Credible Crypto adds the following to its comments on the bet:
Did I mention that I think XRP is going to explode? XRP growth rates against BTC are HIGH. The bet that XRP will outperform BTC at current levels is an extremely low-risk, high-reward bet. I’m taking.
Source: Credible Crypto Credible Crypto: Ripple lawsuit will not affect XRP’s short-term performance
XRP price, US Securities It took a big hit in late December, following the Values and Exchange Commission (SEC) lawsuit against Ripple. The downtrend in crypto money continues to this day. As we previously reported on Cryptokoin.com , the SEC is in this lawsuit accusing Ripple and its CEO Brad Garlinghouse and co-founder Chris Larsen of selling $1.3 billion in unregistered securities via XRP. .
Earlier this month, XRP briefly rose above $0.70 but has since lost many of its profits. However, the fifth-ranked coin by market cap is trading around $0.55 at the time of writing, up 30.6% in the last seven days, according to CoinGecko. Despite the negative price action driven by the SEC lawsuit, Credible Crypto does not think that the lawsuit will affect XRP’s performance in the short term. Credible Crypto adds to his remarks on the bet:
Well, the court decision (if it comes to that) is literally months away and is therefore not a factor to be considered in the short term. Risk is identified because we have a critical cutoff point. If current levels hold, the upside potential is much greater.
Credible Crypto: The goal for Ripple is the highest $30 in December!
The analyst also believes that the potential of XRP is capped at $10 as the lawsuit continues. Credible Crypto adds the following to its explanations on the subject:
It was the highest $ 30 in December. $20-30 was my expectation. I still think this range is viable. However, due to the uncertainty regarding the SEC situation, I’ll probably start taking some profits as I get closer to $10.
Credible Crypto has shared bullish predictions about XRP many times over the past seven months. Credible Crypto recently said that XRP will pull back to around $0.20 and $0.168 before continuing to climb higher. XRP moved exactly as the analyst stated and fell to this low. Apart from that, the analyst also predicted some of Ripple’s short-term price movements as real.