XRP is seen swiftly recovering from significant selling pressure that forced its value towards the $0.50 level, earlier this week. The figure marks a notable improvement from the low of $0.5101 that XRP tested on Thursday after the SEC announced its intention to appeal. However, XRP is still nursing a 9.5% loss in its weekly performance.
While the SEC’s action temporarily slowed XRP’s ongoing bull run, market watchers like ModernInvest remain confident about XRP’s trajectory in this cycle. In a recent video, the analyst argued that, given all the momentum in the XRP ecosystem, it would be odd for XRP to fail to reach at least $20.
Despite the news of SEC’s appeal in the Ripple SEC case, the crypto has stayed in the green, while many experts view it as one of the leading altcoins.
Market analysts appear to have remained bullish on XRP price, as evidenced by their recent comments. Notably, a popular figure in the crypto market, BitBoy has recently praised the development of Bitwise filing for XRP ETF. He shared that it could be a “game changer” for the crypto that the market was highly anticipating for a long period.
He also shared his top altcoins pick for the “bull run”, which gained notable traction from investors. He has updated the list of his top picks, stating that “Sometimes the best move is reshuffling your picks.”
He stated that if the XRP ETF gets approved and Ripple goes ahead with an IPO plan, then it would help the crypto to remain at the top place of this cycle. The bullish outlook has flashed optimism in the market, especially after Bitwise’s ETF filing recently. Investors are on the edge and are keeping close track of the legal battle.
Ripple CLO Stuart Alderoty has recently slammed the agency, saying that the firm might consider a potential cross-appeal in the case. XRP is currently trading at $0.5324. The crypto has touched a high of $0.5384 and a low of $0.5172 in the last 24 hours.
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