XRP News Today: XRP Gains 0.8% as DonAlt Predicts Rally Amid SEC ETF Hopes

DonAlt, a prominent crypto strategist known for his accurate prediction of XRP’s significant price surge in the fourth quarter of 2024, has suggested that the Ripple-affiliated cryptocurrency may be on the brink of another substantial rally. In a June 30 post on X, DonAlt, who has a following of 671.5K, indicated that XRP could be setting up for “Round 2” of its meteoric rally. He noted that while other cryptocurrencies like Bitcoin (BTC) were trading lower, XRP was experiencing modest gains.

DonAlt’s prediction comes at a time when Bitcoin started July on a weak note, dropping to month-to-date lows under $106,500. In contrast, XRP has seen a meager 0.8% gain over the last 24 hours. This period also coincides with analysts tipping a 95% chance for spot XRP-based ETFs to be approved by the US Securities and Exchange Commission this year.

Last November, XRP experienced an impressive 280% jump, significantly outperforming the broader crypto market. On November 13, DonAlt encouraged investors to “long XRP,” describing it as “the perfect trade.” Following this advice, XRP skyrocketed by over 320% within 20 days. The cryptocurrency peaked at $3.31 on January 18 after a brief accumulation phase.

Despite several months of stagnant price action, sentiment around XRP has reached a record high. This optimism is fueled by a stalled $50 million settlement between Ripple and the Securities and Exchange Commission. This development contrasts with the waning optimism surrounding Bitcoin and Ethereum, which have seen declining retail demand as the crypto market moves sideways.

DonAlt’s prediction is supported by recent announcements from Ripple CEO Brad Garlinghouse, who stated that the company is withdrawing its cross-appeal against the SEC and expects the regulator to do the same. Garlinghouse declared, “We’re closing this chapter once and for all and focusing on what’s most important — building the internet of Value. Lock in.” If the SEC also drops its appeal, it could end the nearly five-year legal battle between Ripple and the US securities watchdog, potentially acting as a powerful bullish catalyst for XRP.

Additionally, the XRP Ledger, a blockchain associated with Ripple, is set to enable Ethereum-based smart contracts and cross-chain DeFi. These positive fundamentals could pave the way for XRP to move towards the elusive $3 mark and beyond. DonAlt’s insights, based on technical analysis and market trends, provide a valuable perspective for investors looking to capitalize on the next big opportunity in the cryptocurrency market. As the market continues to evolve, analysts like DonAlt will play a crucial role in guiding investors through the complexities of the crypto space.