Tony Edward, the host of the popular crypto podcast show “Thinking Crypto”, has dropped a hot take on the future of XRP, citing a retracement in the price of Bitcoin (BTC) and a favorable ruling for the sixth-largest cryptocurrency and Ripple in the about-to-end SEC lawsuit.
XRP remains one of the most widely-watched assets in the crypto market, with many analysts and proponents predicting a massive appreciation in the dollar value of the digital asset in the months to come.
These bullish XRP price predictions are linked to the expectations that the ongoing lawsuit involving Ripple and the United States Securities and Exchange Commission would end with the verdict that XRP is a non-security asset.
Per a Wednesday tweet, the Thinking Crypto podcast founder joined the bandwagon of many proponents hoping for a stunning XRP price rally. According to Edward, altcoins would pump hard once Bitcoin hits the $40,000 price point, which he describes as its retracement peak.
The crypto enthusiast further mentioned that he is highly interested in XRP, hoping the presiding judge in the Ripple-SEC lawsuit would rule the longstanding court battle in favor of XRP and Ripple.
He wrote, “Once Bitcoin hits its retracement peak of around $40K, we see altcoins pump. I got my eyes on ETH and XRP. Hoping Judge Torres rules in favor of Ripple and XRP goes on a nice run. Will be taking profits accordingly. Once the bull rally is over and lows get tested again, I start to accumulate for the macro bull run after BTC’s halving next year.”
Once #Bitcoin hits it's retracement peak of around $40K, we see #Altcoins pump. I got my eyes on $ETH and $XRP. Hoping Judge Torres rules in favor of Ripple and XRP goes on a nice run. Will be taking profits accordingly.
Once the bull rally is over and lows get tested again, I…
— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) June 22, 2023
Notably, Edward also implied that the XRP price is bound to plummet after the probable rally post-SEC lawsuit, revealing his intentions to take profits accordingly. This syncs with an earlier viewpoint shared by Yassin Mobarak, the founder of the Venture Capital firm Dizer Capital, after XRP dumped 10% within 24 hours post-Hinman Speech Documents release.
Overall, it remains unknown how the Ripple-SEC lawsuit would end and the corresponding XRP price action. Therefore, it is advised to trade with caution.
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