• Popular crypto analyst DonAlt predicts XRP could rally by up to 200% if news on the SEC lawsuit against Ripple is positive.
• DonAlt has resumed buying XRP, noting it has potential upside of a double to triple from current levels and downside risk of around 10-15%.
• The pseudonymous analyst’s bullish thesis for XRP will be invalidated if it falls below $0.46.
XRP Could Explode by Up To 200%, Predicts Analyst
A popular crypto analyst believes that XRP is primed for a triple-digit rally as a decision on the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple looms. The pseudonymous analyst DonAlt tells 50,900 subscribers of the TechnicalRoundup YouTube channel that XRP has a potential upside of over 100% from the current levels.
DonAlt Resumes Buying XRP
DonAlt says he has resumed buying XRP after taking profits on positions he entered in November of 2022. He urges caution as the trade is not risk-free, with an invalidation point at $0.46 on the weekly chart.
Positive News Could Spark Massive Pump
The analyst notes that even just slightly positive news regarding the SEC case can trigger a massive pump in XRP prices, noting that “if there’s just like a frown on the judge’s face while the SEC is talking, basically you’re gonna see quite a massive pump.”
Risk vs Reward Analysis
DonAlt assesses that there is decent risk vs reward associated with investing in XRP right now, highlighting possible returns between double to triple what you put in along with downside risk of 10-15%.
Disclaimer
Opinions expressed at The Daily Hodl are not investment advice and investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets – please note The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets nor is The Daily Hodl an investment advisor.