Ripple’s Chief Legal Officer Is More Confident Than Ever, Analyst Says $XRP Breakout Is ‘Imminent’
On Wednesday (March 8), with the $XRP price defying gravity while most top 20 cryptocurrencies are down, a Dubai-based crypto analyst and trader explained why he believes anyone not owning $XRP already should buy now.
At the time of writing (i.e., as of 1:43 p.m. UTC on March 8), 15 of the top 20 cryptocurrencies — including Bitcoin and Ethereum — by market cap are in the red (in the past 24-hour period). Meanwhile, $XRP is flying high.
According to data from TradingView, on crypto exchange Bitstamp, $XRP is trading at around $0.3983, up nearly 76.44% in the past 24-hour period and up 16.70% in the year-to-date period.
Pseudonymous crypto analyst and trader “Crypto Michael” (@MichaelXBT on Twitter) has recently been pretty bullish on XRP.
Here is what he has been saying in the past 24 hours:
Earlier today, Ripple’s Chief Legal Officer Stuart Alderoty explained why, with the most recent ruling in the SEC’s ongoing lawsuit against Ripple, he feels more confident than ever about Ripple’s chances of winning:
“Specifically – not only is the SEC’s expert on “reasonable expectations of an XRP purchaser” struck from the record, but so is their expert who tried to say what “caused” the price of XRP to change. On the flip side – our experts explain how Ripple’s contracts clearly differ from those in ‘Howey,’ tax treatment of XRP (not a security), accounting treatment of XRP (not a security), and currency experts on XRP (not a security) are all allowed to stay in. As we have said throughout, we have always felt confident about our case and with each ruling, even more so.“
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