XRP Gains Momentum as SEC’s Appeal Falls Flat
A well-known cryptocurrency analyst has expressed optimistic views on XRP following a recent decision by a US court.
The court rejected the US Securities and Exchange Commission’s (SEC) attempt to appeal a previous ruling that favored Ripple in July.
The trader, who goes by the pseudonym Credible Crypto, believes that the SEC’s failed appeal would likely positively impact the XRP market. Given its current high liquidity, he suggests that it could potentially trigger a rally in the market.
Credible Crypto emphasizes that XRP faces a crucial resistance level at $0.60 in the current environment of tight liquidity. He suggests that breaking through this resistance is essential to initiate a bullish trend. He also mentions that a failure to do so could indicate that the market isn’t quite ready yet, mainly due to liquidity constraints.
Regarding the SEC’s appeal rejection, Credible Crypto expresses enthusiasm, seeing it as positive news that enhances his long-term confidence in XRP, especially as new investments flow into the cryptocurrency space.
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Shifting focus to Bitcoin (BTC), the anonymous analyst expects the flagship cryptocurrency to maintain its support at the $24,800 level if it experiences a correction. However, when it comes to Ethereum (ETH), Credible Crypto holds a more pessimistic view. He suggests that ETH may potentially establish a new local low, as it has already tested the lower end of its trading range.
Additionally, there are inefficiencies and significant demand regions below its current range.
In this context, Credible Crypto also speculates that ETH might experience further weakness compared to BTC, especially as BTC dominance continues to rise to new highs.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
