Crypto Analyst Who Nailed XRP’s Massive 2024 Rally Believes It Might Be Time For “Round 2”

A crypto strategist known for accurately predicting the mega XRP price eruption in Q4 2024 says that the Ripple-affiliated crypto may be on the verge of igniting another parabolic surge. In a June 30 post on X, pseudonymous analyst DonAlt told his 671.5K followers that XRP could be setting up for “Round 2” of its meteoric rally. He noted that XRP was enjoying paltry gains while other cryptocurrencies like Bitcoin (BTC) traded lower. Notably, BTC started July in a lackluster style, plummeting to month-to-date lows under $106,500 at publication time. XRP, meanwhile, has gained a meagre 0.8% over the last 24 hours as renowned crypto exchange-traded fund (ETF) analysts tip a whopping 95% chance for spot XRP-based ETFs to be greenlighted by the US Securities and Exchange Commission this year. Last November, XRP jumped by an impressive 280%, considerably outperforming the wider crypto market. On Nov. 13, DonAlt encouraged investors to “long XRP,” which he called “the perfect trade.” The cross-border payments coin then skyrocketed by over 320% in the span of 20 days. XRP ended up peaking at $3.31 on January 18 after a brief accumulation phase, according to CoinGecko data. Despite several months of stagnating price action, XRP sentiment has reached a record high, fueled by a stalled $50 million settlement between Ripple and the Securities and Exchange Commission. As previously reported by ZyCrypto , this development contradicts the waning optimism surrounding Bitcoin and Ethereum, which have witnessed dwindling retail demand as the crypto market moves sideways. XRP Fundamentals Hint At Breakout Ahead DonAlt’s prediction comes after Ripple CEO Brad Garlinghouse announced that the company was tossing out its cross-appeal against the SEC and expects the regulator to do the same. “We’re closing this chapter once and for all and focusing on what’s most important — building the internet of Value. Lock in,” Garlinghouse declared at the time. If the SEC also drops its appeal, it could bring to an end the legal brawl between Ripple and the US securities watchdog that has lasted for nearly five years and likely act as a powerful bullish catalyst for XRP. Meanwhile, the XRP Ledger, a blockchain associated with Ripple, launched its EVM sidechain on mainnet to enable Ethereum-based smart contracts and cross-chain DeFi. These positive fundamentals could set the stage for a move toward the much-elusive $3 mark and beyond.

Source: ZyCrypto