In the latest walk-and-talk session, Nick dives into the world of XRP, focusing on the ongoing Ripple vs. SEC lawsuit and its potential impact on the cryptocurrency’s price.
SEC vs. Ripple: Anticipating a Settlement
The SEC’s lawsuit against Ripple, filed in 2020, alleging that XRP is a security, has been a major overhang on the cryptocurrency’s price. However, the host believes that a settlement is likely due to the weak SEC case and poor performance of SEC lawyers.
Anticipating settlement talks around Q2 2024, the host expects a three-month discovery delay, suggesting a potential resolution by the end of 2024.
XRP Price Volatility and Retail Investor Recklessness
Recent volatility in XRP’s price has been largely driven by Bitcoin’s market movements. Nick highlights the recklessness of retail investors, with 61% of recent liquidations being long positions.
Cautious Trading and Healthy Corrections
Nick emphasizes the importance of cautious trading and healthy corrections, reminding viewers to avoid overly optimistic expectations and to practice risk management.
Upcoming Market Catalysts
Upcoming market catalysts that could influence XRP’s price include a Fed pivot and the approval of Bitcoin and Ethereum spot ETFs.
Conservative Price Prediction for XRP
Offering a conservative price prediction for XRP, Nick suggests a range between $10 and $15, emphasizing the need for patience and a long-term investment horizon.
Encouraging viewers to like, subscribe, and join the Discord community, Nick fosters a sense of connection and shared interest in the world of cryptocurrency.
The video concludes with a scenic view, reiterating the importance of a cautious and patient approach to cryptocurrency investing.