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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

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

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
2 mins 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.

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
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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