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Home Technical analysis XRP

Here’s Why Despite SEC Charges, XRP Will Soar Again Someday

Tony Spilotro by Tony Spilotro
2 weeks ago
in XRP
Reading Time: 2min read
xrp ripple sec altcoin season

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XRP is suffering currently, even while Bitcoin trades well above its former all-time high. The reason for the altcoin’s struggles is due to the SEC slapping the coin’s parent company and its top executives with a lawsuit.

The crypto community has been quick to point the finger to laugh, despite its dangerous implications for the greater industry. Others call for the token to collapse to near zero, but one trader says that XRP will soar again someday regardless of the situation with the SEC. Here’s why.

XRP Could Recover With Next Altcoin Season, Trader Claims

Bitcoin is trading at well over $28,000 as 2020 comes to a close. Crypto investors have long been salivating not just over the top-ranked asset by market cap reaching a new all-time high, but for the “alt season” that was expected to arrive soon after.

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During the last market cycle, as soon as Bitcoin’s bull market was confirmed with a new high over the 2013 peak, altcoins skyrocketed in value.

Related Reading | Analyst Who Called Coinbase XRP Delisting Says SEC Is “Investigating” Other Altcoins

Bitcoin regained the center stage once again as the asset went fully parabolic, and made mainstream media headlines in 2017. Again, the asset peaked, and the altcoin season that arrived right after was the stuff legends are made of. Ethereum spiked to over $1,400 and XRP to more than $3 per token.

Then, even “abandoned coins” exploded by 100,000% in weeks, including projects with no working product, no teams, no social footprint, or worse. Even outright scams like Bitconnect ballooned in price as dumb money came pouring in.

xrp ripple crypto altcoins

The SEC lawsuit has not been friendly to XRP | XRPUSD on TradingView.com

This time around, dumb money has yet to pour in and the capital that is coming in is institutional money focused on Bitcoin alone. Altcoins aside from maybe Ethereum and DeFi tokens have basically been ignored.

Related Reading | Bitcoin Dominance Doji: Why 2021 Could Spell Doom For Altcoins

That trend won’t last forever, and when altcoin season returns, that’s when one top trader says that even XRP will see upside again.

For now, Bitcoin dominance could be signaling that altcoins are doomed in general, so there’s a chance that the altcoin season this trader is calling for never actually arrives, leaving XRP and others to die a slow death in the wake of Bitcoin’s next bull run.

Featured image from Deposit Photos, Charts from TradingView.com
Tags: alt seasonaltcoinAltcoin SeasoncryptoRipplesecxrpXRPBTCXRPUSDxrpusdt
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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