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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

“XRP Very Important,” Top Analyst Predicts Which Tokens Could Profit From The SEC War

Reynaldo Marquez
Reynaldo Marquez
2 years ago
2 mins read
XRP Ripple XRPUSDT

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Despite the blow suffered by most of the crypto market, XRP continues to trade in the green on higher timeframes. The token is in a battle between the U.S. Securities And Exchange Commission (SEC) and payment company Ripple.

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This legal battle began two years ago but has become more relevant than ever as the regulator crackdown on the nascent sector. The event has attracted speculators and traders looking to profit from its outcome.

With the SEC filing two new lawsuits against crypto exchanges Binance and Coinbase, XRP could benefit from a positive result, and other tokens could record a positive correlation. In other words, if XRP wins in court, other tokens will follow a similar trajectory.

As of this writing, XRP trades at $0.52 with a 2% loss in the last 24 hours. In the previous week, the token recorded a 3% profit as the market collapsed, with Binance Coin (BNB), Cardano (ADA), and Solana (SOL) experiencing sharp corrections.

Ripple XRP XRPUSDT
XRP’s price trends to the upside on the daily chart. Source: XRPUSDT Tradingview

Trading The SEC War, Why XRP Is Key

The SEC’s lawsuits put Binance Coin (BNB), Cardano (ADA), and many more coins under the spotlight. These cryptocurrencies could be deemed securities in the United States, thus rendering most crypto exchanges unable to offer them for a while.

Binance.US has begun pausing trading on this and other “crypto asset securities,” as the regulator calls them. As a result, their prices have been suffering and could continue to see downside pressure in the short term.

According to pseudonym analyst Daan Crypto, some of the tokens targeted by the SEC could rise again to benefit those traders willing to take the risk. Via Twitter, the analyst wrote:

I think there might be some smart people that know whether these coins will come out on top or not and might get some amazing discounts. I’d rather choose the easy route (Left side of the bell curve) and trade other coins for the foreseeable future.

The analyst recommended that traders stick to Bitcoin and other “dino coins,” such as Litecoin. These digital assets already have a clearer status than newer cryptocurrencies, as the SEC and other regulatory bodies in the U.S. hinted at BTC being a commodity under their laws.

On higher timeframes, when the Ripple versus SEC case is finally settled or decided, XRP and other altcoins are likely to rally:

If Ripple wins then expect some massive rallies in basically every alt coin that got named as a security by the SEC. Cheer for $XRP even if you don’t like the project itself. They are fighting everyone’s fight here.

The fate of this case could be decided soon, according to top executives within the payment company. In the meantime, traders could see some profits by taking positions on older coins.

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Cover image from Unsplash, Chart from Tradingview

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

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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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

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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