A popular cryptocurrency analyst and investor is tracking the trajectory of XRP following a key ruling in the SEC's lawsuit against Ripple.
On Friday, Judge Analisa Torres denied that the SEC was trying to prevent Ripple from using the "fair notice defense.
One of Ripple's central arguments is that the SEC did not have sufficient notice that it believed Ripple was selling XRP as an unregistered security.
Analyst Credible Cryptocurrency warned his 362,000 Twitter followers that the cryptocurrency has yet to break through a key resistance area, despite the news triggering an immediate spike in XRP prices.
"The news is good for the case, but from a technical point of view we are still under local resistance.
So don't go FOMO on anything here simply because of this positive fundamental development. It's best to wait until the price action develops at this point."
Credible would like to see XRP convincingly break through the resistance line around $0.83.
Source: Trusted Cryptocurrency/Twitter
As for Bitcoin, analysts say a real momentum shift could happen if BTC can break above $42,500.
On the downside, he wants to see if BTC can hit a higher low in the $36,000 area.
"We can't push back to 42.5k, so that count is still in play. A move as high as 40-41k (RED) is noise and if we get it, a break above 42.5k is still very bullish/significant. If we do go lower, expect a higher low of 36k"
Source: Credible Crypto/TwitterCheck Price fluctuations Don't miss a beat – subscribe to get cryptocurrency email alerts delivered directly to your inbox Follow us on Twitter, Facebook and Telegram Surf Daily Hodl Combo
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The post As SEC v. Ripple Battle Heats Up, Top Cryptocurrency Trader Issues XRP Alert appeared first on Daily Hodl.