Ripple (XRP) could mimic Bitcoin’s rise

Legendary trader and tech analyst Peter Brandt, who predicted the Bitcoin crash in January 2018, said XRP is gearing up for explosive growth.

In a new tweet, Peter Brandt spoke about Ripple to his 430,000 followers. According to the analyst, XRP forms a reversal pattern, after which it can rise significantly.

The token is showing signs of an imminent start of a bullish cycle, the expert said. However, Brandt himself does not invest in this cryptocurrency, referring not to the fact that he trades in securities, writes block-chain24.

“I know most of you are XRP fans. Sorry, this is not mine. I have said this many times in the past. First of all, bitcoin is important to me. BTC is old money. I don’t want to be distracted by anything else, ”he explained.

For the first cryptocurrency, Brandt predicts BTC will rise to $ 240,000 in the current bull cycle.

From other news. Payment service MoneyGram loses profit after suspension of partnership with Ripple, writes The Wall Street Journal. In 2020, MoneyGram was able to cut its operating expenses by 56%, mainly thanks to the contribution of Ripple.

MoneyGram’s CFO said they are looking for “alternatives” to continue their partnership with Ripple, and the best-case scenario would be a positive litigation with the SEC.

Ripple recently said it was optimistic about the SEC lawsuit and that its outcome would “bring clarity to blockchain and digital asset regulation” in the US.

Hopes are also connected with the new chairman of the SEC, Gary Gensler, who will take office in March. It is known that he is positive about cryptocurrencies and his participation may change the regulator’s approach to XRP.

“Theoretically, the XRP token could grow dozens of times if it were taken into the global banking system for which it was created. In the meantime, news about lawsuits and the sale of tokens by the company’s management has a stronger impact on prospects than the technical advantages of the project, which are heard less and less often.

Although growth is also highly likely with a combination of speculation about softening claims or a real agreement with the SEC, plus the overall growth of the altcoin market, “- said the team of analysts at FxPro.

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