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Here's Why XRP Might Send Top Cryptocurrencies to Valhalla, Explains Top Crypto Trader

Thu, 04/13/2023 - 14:53
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Gamza Khanzadaev
XRP's security status may determine fate of top 300 cryptocurrencies
Here's Why XRP Might Send Top Cryptocurrencies to Valhalla, Explains Top Crypto Trader
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In a recent tweet, a leading news trader nicknamed "Tree of Alpha" stated that the best news for crypto traders right now would be a positive decision on the status of XRP in the SEC case against Ripple. The trader believes that if XRP is found not to be a security, it will send it and the other top 300 cryptocurrencies to "Valhalla," meaning a significant jump in their prices.

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The trader noted that the SEC is aggressively trying to brand everything on the cryptocurrency market as securities in need of regulation. Therefore, an apparent victory over the regulator would be a significant defeat for them and create a hindrance to any future cases they may bring against other altcoins and crypto companies.

When asked by a follower about using bots to profit from a possible decision regarding XRP's status, Tree of Alpha stressed the unpredictability of where the news would come from as well as the form of the verdict. He explained that the decision could be reported from a variety of sources, such as case files, Bloomberg or a random Twitter account, and it is likely that traders will not be able to understand the verdict the first time around. That is why it is important to stay informed in order to make informed trading decisions.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.