XRP could explode by as much as 200%, predicts an analyst who hit Bitcoin’s 2022 bottom — but there’s a catch

A well-known crypto analyst believes that XRP is primed for a triple-digit surge as a decision on the US Securities and Exchange Commission (SEC) lawsuit against Ripple looms.

Pseudonymous analyst DonAlt tells 50,900 subscribers to YouTube channel TechnicalRoundup that XRP has over 100% potential upside from current levels.

DonAlt says he has resumed buying XRP after taking profits on positions he took in November 2022.

“I bought my XRP again here [above the $0.475 level], basically on the way up because I think the XRP narrative might get rolling again. The SEC case is fast approaching.

Basically I think if you have a stop loss on this thing the upside potential is like doubling to tripling. And the downside is… 10-15%.

And the outcome of the case, or even if it’s just barely positive news, it doesn’t even have to be the outcome. Basically, if there’s just a frown on the judge’s face while the SEC is speaking, you’re going to see a pretty massive pump. And so the risk/reward ratio seems reasonable.”

Source: TechnicalRoundup/YouTube

However, the analyst urges caution as XRP trading is not risk-free.

“Of course you have to be careful here too. An easy way to lose a lot of money.”

According to DonAlt, if the sixth-largest crypto asset by market falls below $0.46, the bullish thesis for XRP will become invalid.

“What is XRP Invalidation? Dipping back below $0.46 weekly [chart]. For example when we start losing that horizontal support [at around $0.46]we will probably lose this diagonal [ascending trend line] to.”

XRP is trading at $0.506 at the time of writing.

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