Crypto Rand Analyst Says XRP Will Breakout, Really?

JAKARTA – Cryptocurrency Ripple (XRP) has received attention from leading analyst Crypto Rand. Through its official Twitter account, Crypto Rand revealed that XRP has the potential to experience a breakout or price movement beyond its resistance.

According to him, XRP has the opportunity to break the level of 0.40 US dollars per coin. The seventh cryptocurrency by market cap is now trading at $0.37 per XRP, according to Coingecko data. The price of XRP is down 89.14% from its all-time high (ATH) reached in January 2018.

On the other hand, Ripple is still at odds with the US Securities and Exchange Commission (SEC) at the green table. The feud has been going on for more than a year, since December 2020. Until now Ripple is in legal uncertainty because of the SEC lawsuit.

The US Securities and Exchange Commission accused Ripple of selling unlisted securities in late 2020. Since then the price of XRP has dropped significantly. Coupled with the removal of XRP trading from a number of leading crypto exchanges.

The decline in XRP prices is also inseparable from the general condition of the crypto market which has entered a bearish trend in the last few months. In addition, the sale of XRP in large quantities by former Ripple executive Jed McCaleb was also a factor.

However, according to a recent report, McCaleb said he stopped dumping XRP. He even had time to spare some of his XRP to anticipate the possibility of the crypto rising.

Jed McCaleb got a total of 8 billion XRP from Ripple because he decided to leave the company. He has sold his holdings in recent years, and currently, McCaleb only leaves 5 million XRP in his crypto wallet.