XRP Holders Beware: Selling Before SEC Lawsuit Could Be Costly, Says Expert

Tension and speculation have increased among XRP holders as the crypto community awaits the court ruling on the SEC vs. Ripple lawsuit. The ongoing price onslaught that pushed the token’s price from $0.5322 to $0.45 increased the dilemma among investors torn between selling XRP or waiting for the ruling.

While the pressure mounts, the CEO of Alpha Lions Academy and head of Social Adoption at XRP Healthcare, Edoardo Farina, weighed in. In a recent tweet, the crypto investment expert advised against selling XRP before the ongoing lawsuit ends.

Reactions To Possible XRP Price Outlook Post-SEC Litigation

In his tweet, Edoardo Farina asserted that selling the XRP token before the Ripple versus SEC legal battle ends is the worst move possible. Most XRP proponents think the token price could experience a boost if the case ends in favor of Ripple. And Farina’s latest statement aligns with these opinions.

Again, the broader crypto and XRP community are sensitive toward this topic, and various responses are imminent. Edoardo Farina’s statement sparked several reactions.

While many agreed with him, others argued that the delay in summary judgment of the ongoing lawsuit was a waste of investors’ time. Since the case has already lasted over two years, the community might have to endure more months of doubt and uncertainty.

Most crypto analysts and influencers believe the lawsuit slowed XRP’s growth and obstructed its potential. While others believe XRP could break new ground and cover more milestones once the legal pressure dissipates.

XRP has obtained support from several top figures in the crypto ecosystem. Among them is Ben Armstrong, alias BitBoy, a notable crypto influencer. While the Ripple vs. SEC lawsuit impending conclusion remains controversial, BitBoy declared XRP his top choice among altcoins for the next bull run via an April 14 tweet.

The crypto influencer noted that the ongoing civil litigation obstructed XRP’s potential. He is confident the asset will outperform other altcoins come the next bull market if Ripple emerges victorious against the SEC.

XRP Price Outlook

In a March 28 TradingView idea, veteran trader and a staunch altcoins critic, Peter Brandt, predicted that XRP could experience a rally soon. Despite his misgivings about the XRP community, the expert foresaw a bullish price movement for the asset during his analysis. Brandt’s analysis projected a bullish move where the minimum target price was $3.

According to the expert, XRP has reappeared on his watchlist. With Ripple’s price movement at the time of Brandt’s statement, the trader noted the asset fits the criteria for an asymmetrical trade.

Meanwhile, XRP’s price is trading contrary to these bullish remarks today. The asset price is 0.91% down over the past 24 hours and has given up its 7-day price gain by 10.9%.

However, XRP retained a 2.91% price gain in the last 30 days. But technical indicators flag bearish signals for the token, as it trades below the 50, 30, 20, and 10-day moving averages. The Oscillators flag a sell signal for XRP, while Edoardo Farina says otherwise.

Featured image from Pixabay and chart from Tradingview

Publication date

04/25/2023 - 13:00

Author

Eli Dambel

Article source

Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.