Tony Edward Foresees XRP Rally upon Bitcoin’s Retracement Peak, Hinging on Ripple Lawsuit Outcome
In a recent tweet, Tony Edward, the founder of the Thinking Crypto Podcast, shared his excitement for a potential XRP rally in the wake of Bitcoin’s retracement peak. Edward specifically identified XRP and Ethereum (ETH) as promising altcoins and expressed optimism regarding a favourable ruling by Judge Analisa Torres in the ongoing lawsuit between Ripple and the US Securities and Exchange Commission (SEC). He believes that this ruling could catalyze XRP’s upward trajectory.
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Once #Bitcoin hits it's retracement peak of around $40K, we see #Altcoins pump. I got my eyes on $ETH and $XRP. Hoping Judge Torres rules in favor of Ripple and XRP goes on a nice run. Will be taking profits accordingly.
Once the bull rally is over and lows get tested again, I…
— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) June 22, 2023
Tony Edward Expects XRP Rally
Edward’s expectations for an XRP rally are closely tied to the outcome of the Ripple lawsuit. He predicts that as Bitcoin approaches its retracement peak, which is estimated to be around $40K, altcoins like XRP and ETH could experience a significant price surge. The anticipation of a positive outcome in the Ripple lawsuit has led Edward to adjust his investment strategy, planning to take profits during the projected rally. Additionally, he considers accumulating XRP for the macro bull run following Bitcoin’s halving next year.
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A prominent lawyer representing XRP holders in the Ripple case has argued that the cryptocurrency could potentially reach $10 following a victory in the lawsuit. Edward’s sentiments align with this viewpoint, and he is not alone in his assessment. A well-known Bitcoin maximalist has also publicly stated that XRP is a must-have coin in his portfolio. Commenters on Edward’s tweet echoed these sentiments, emphasizing that regulatory clarity and a favourable ruling from Judge Torres could position XRP as the go-to regulated non-security token, attracting substantial investment flows.
If xrp gets the green light from Torres money will flow into the only regulated non security token and that’s xrp. Why invest in anything other that can be a security
— Fastcrypto (@fastcrytpo) June 22, 2023
While there remains some uncertainty about the price action XRP might experience post-lawsuit victory, an XRP enthusiast has argued that XRP has the potential to deviate from Bitcoin’s traditional four-year cycles and exhibit unique price action.
the fun part is we have no idea what type of price action we will see from xrp with clarity regardless of a bull/bear market. it could possibly defy the btc 4year cycle logic. we just don't know….
— KINGHODL.XRP (@blackrevenue) June 22, 2023
It’s important to note that this discussion builds upon previous news surrounding Ripple’s legal battle and its potential impact on XRP’s future. The recent release of the Hinman emails, which have sparked further optimism for XRP, has added to the anticipation surrounding the lawsuit’s outcome.
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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
