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Market News XRP Holds Support, Could Lead Next Bull Run

XRP Holds Support, Could Lead Next Bull Run

When the SEC lawsuit against Ripple is resolved, according to BitBoy Crypto's Ben Armstrong, XRP may become the dominant currency in the ensuing rising market.

Cory Russell

2023-04-06

10707

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Bulls in XRP are still holding the $0.51 level, keeping the No. 6 cryptocurrency from falling below the crucial $0.50 support region.

The analytical analysis by the Twitter account Egrag Crypto indicates that $0.63 is the next significant goal for XRP, which may open the door for the $1 mark. He told them to "stay steady" in their XRP force.

Positive XRP Bet

Ben Armstrong, a prominent crypto analyst, has made a risky XRP forecast. The creator of BitBoy Crypto asserts that if Ripple receives a positive resolution in the SEC case and there is no chance of an appeal, XRP will surge to the top of the market during the upcoming bull run. The "suppression is almost over," he continued.

The lawsuit might stretch on for years even if Ripple wins but the SEC files an appeal. Traders who were expecting that the cryptocurrency exchange Coinbase would quickly relist their preferred cryptocurrency would be extremely frustrated by that. Investors were informed by the online trading site Uphold that XRP was never delisted in the first place.

Paul Grewal, chief legal officer at Coinbase, recently stated on the Thinking Crypto program that there is "a very high likelihood" that the Ripple/SEC case will be challenged. Armstrong predicts that Bitcoin will reach $30K "imminently," which could be advantageous for XRP.