Altstein, a renowned trader known for his ability to turn a small investment into significant gains, is calling for an end to the negativity surrounding XRP. He believes that the recent positive developments surrounding the asset make a strong case for its future success.
Altstein points out that XRP has fully recovered from a recent drop and has outperformed its competitors. In less than a week, it has seen a 48% increase, going from $0.43 to $0.64.
One significant development that Altstein highlights is the conclusion of the long-running Ripple lawsuit. Ripple emerged victorious, securing a 94% reduction in the fine requested by the SEC. This victory solidifies XRP’s status as not being a security and sets the stage for potential unprecedented growth.
Altstein also notes that XRP has broken above a solid zone and out of a smaller symmetrical triangle formation that began in 2021. He predicts a 600% price rally, which would add nearly $3 to XRP’s value.
In light of these developments, Altstein urges skeptics to reconsider their investment strategy towards XRP.
One XRP user, Ebenezer Edward, expresses frustration with XRP’s prolonged stagnation around $0.50 but agrees that the recent bounce and breakout from the symmetrical triangle are positive signs for further gains.
Despite some fluctuations, XRP analysts remain confident that better days are ahead. They believe that if XRP can reverse its 7-year downtrend, significant price surges are possible. Analysts like Javon Marks even predict a surge of up to 42,000%.
It’s important to note that this article is for informational purposes only and should not be considered financial advice. Readers are encouraged to conduct their own research before making any investment decisions.