SEC Appeal Won’t Halt XRP Price Rally, Predicts Top Crypto Analyst
Elena R5 Oct 20242 min read
Market analyst Bobby A recently took to X (formerly Twitter) to share his thoughts on the SEC’s decision to appeal its lawsuit involving XRP. While many in the crypto community worry that the appeal could harm XRP, Bobby A offers a different view.
Intrigued? Read on to discover why Bobby A’s analysis paints a bullish picture for XRP’s future.
The SEC Appeal May Not Be So Bad
Despite concerns of a possible bear market, Bobby A points out that macro charts remain bullish. He argues that events like the SEC’s appeal often cause impatient or uninformed investors to miss out on big opportunities. He recalls how XRP rose from $0.11 to $1.95, even during the 2020 SEC lawsuit.
From a technical perspective, Bobby A notes that XRP has been consolidating for nearly seven years, forming a strong base that could lead to a major price surge.
Get Ready for a Market Shakeup
Looking at past data, Bobby A believes XRP is on the verge of a significant price jump, especially after the next Bitcoin Halving. He explained that in previous cycles, XRP experienced sharp rises when certain technical indicators aligned.
He argued that this cycle closely mirrors the 2016-2017 bull cycle.
“much like during 2016, the price is tightly wound around all essential higher timeframe moving averages, including the median line of the monthly Bollinger Bands.”
Bobby A stresses that big market moves often start with misleading price action, designed to catch traders off guard. He compared the current setup to Bitcoin’s sudden movement in March 2020, where initial volatility led to a massive rally. According to him, XRP’s moving averages and Bollinger Bands could trigger a major price push, just as in previous cycles.
Beyond the charts, Bobby A sees strong fundamentals for XRP. With legal clarity, a solid use case, the potential for a stablecoin, and a possible ETF, mass adoption seems within reach.
“As mentioned above, the XRPETH and XRPBTC charts do not look like this is the start of a long, drawn-out bear market but, instead, possible capitulation at deep value areas,” he stated.
Waiting for the Political Push
Bobby A also speculates that if Donald Trump is re-elected, it could lead to SEC Chair Gary Gensler stepping down. He believes new leadership at the SEC would be seen as very bullish for XRP and the broader crypto market.
He finally concluded by stating that his conviction regarding the XRP thesis remains stronger than ever and that he will continue to strategize, accumulate, and exercise patience.
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