In a recent video, highly respected trader, educator, and crypto analyst Thomas Kralow provides a detailed analysis of XRP, justifying his medium to long-term price target of $8-$10. This blog post will provide a comprehensive summary of Kralow’s latest insights and predictions regarding XRP, in the wake of last week’s landmark ruling by Judge Analisa Torres.
Ripple’s Lawsuit Victory
Kralow begins by discussing the recent lawsuit victory for Ripple against the Securities and Exchange Commission (SEC). He believes that this victory is not just a partial win, but a complete triumph for Ripple. The SEC had accused Ripple of providing unregistered securities to institutions, but Kralow believes that Ripple will simply settle for a fine, and that will be the end of it.
This victory has had wide-ranging implications for the entire cryptocurrency market, leading to a pump in not just XRP, but also other cryptocurrencies like Cardano and Solana. Kralow believes that this victory has cleared XRP for the bull market, meaning that we should not expect any significant legal hurdles for XRP in the coming years.
Ripple’s Future Prospects
He acknowledges that Ripple has interesting projects and is a strong company, but he sees a lack of connection between Ripple and XRP itself. Therefore, he doesn’t see many fundamental reasons to hold XRP.
However, Kralow does not believe it’s time to sell XRP either. He acknowledges that there are fears that Ripple’s victory might be cut short on appeal, but he believes that even if the SEC were to appeal and win, it would take years for that to happen, by which time Gary Gensler might no longer be the head of the SEC. Therefore, he does not see this as a significant risk for XRP in the short term.
Technical Analysis of XRP
From a technical perspective, Kralow notes that XRP has seen an incredible “mini pump” recently. He points out that XRP has cleared a significant resistance level that has been in place since 2018. If XRP can close above this level with significant volume, it could trigger a bullish signal for the cryptocurrency.
Kralow believes that this is just the beginning for XRP. He points out that XRP underperformed in the previous bull market due to the SEC lawsuit, but now that the lawsuit is resolved, he believes that XRP is undervalued. His price target for XRP in the next bull market, around 2025-2026, is around $8 to $10.
In conclusion, Kralow stands by his prediction, seeing the potential for XRP to reach $8-$10 in the medium to long term. His analysis suggests that now may not be the time to sell XRP, but rather, it might be a time to hold or even buy more, anticipating significant price appreciation in the coming years.
Please note that this blog post is a summary of Kralow’s video and does not constitute financial advice. Always do your own research and consult with a professional before making any investment decisions.