Analyst Advises Against XRP Trading
A crypto analyst known as IncomeSharks recently cautioned investors against trading XRP. In a post on Twitter, the analyst advised against purchasing the cryptocurrency due to potential risks. They argued that the window of opportunity to buy and hold XRP tokens for profit has passed. The analyst labeled current buyers of XRP as emotional FOMO (Fear Of Missing Out) buyers and suggested that trading the token at this point would separate traders from those making emotional decisions.
Lawyer Criticizes US SEC’s Anti-Crypto Actions
John E Deaton, a lawyer supporting XRP, expressed his opinions on the US Securities and Exchange Commission (SEC) and its actions against Ripple and other crypto organizations. Deaton called the SEC a disgrace and highlighted Ripple’s growth despite the legal battle. He commended Ripple for expanding its business during a bear market while facing regulatory enforcement. In a subsequent tweet, Deaton revealed that the SEC is seeking $770 million from Ripple. However, he suggested that if Coinbase’s Motion to Dismiss order is successful, it may lead to a change in the SEC’s anti-crypto agenda.
Hot Take: Caution Urged in XRP Trading
With concerns about potential risks and missed opportunities, it appears that caution should be exercised when considering trading XRP. IncomeSharks advises against purchasing the cryptocurrency at this stage, emphasizing that the time for buying and holding XRP tokens for profit has already passed. Additionally, John E Deaton criticizes the SEC’s actions against Ripple and suggests that a successful motion by Coinbase could impact the regulatory agency’s stance on cryptocurrencies. As the legal proceedings continue, it remains important for investors to stay informed and make decisions based on careful analysis.
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