Analyst Mega Bullish On XRP, Foresees Potential ETF And Price Range Between $16-$20
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In a landmark decision, Judge Analisa Torres ruled in favor of Ripple Labs in its legal battle with the SEC, ordering a $125 million payment to the regulator. This also clarified that XRP is not considered a security.
Following this ruling, analyst Doctor Profit published a positive outlook for XRP, emphasizing its long-term potential. Highlighting past performance, such as a 60,000% surge in 2017, he acknowledged the token’s capacity for explosive growth.
Doctor Profit speculated the possibility of a spot XRP Exchange-Traded Fund (ETF), which could follow past ETF approvals for Bitcoin and Ethereum. This speculation adds optimism to XRP’s future.
Technically, a key resistance level has been identified at $0.72. The token, currently trading at $0.6150, has gained 23% in the last 24 hours. A breakout past this resistance could signal a bullish scenario.
With the lawsuit pressure alleviated, and regulatory clarity achieved, Doctor Profit projects a best-case price range for XRP between $16-$20 and a worst-case scenario of $4-$7 within a year. He advises investors to maintain a long-term commitment.
Source: www.newsbtc.com ↗
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