Friday, January 15, 2021

Crypto Whale Analyzes XRP, Says Bitcoin Will Maintain $50,000 Support in Most of 2021

A popular cryptocurrency whale and analyst has analyzed the possible future trend of the price of XRP, stating that Bitcoin (BTC) will maintain its stability above $50,000 in most of 2021.

Settlement of Ripple’s Lawsuit Could Be Bullish for XRP

The trader known as Flood in the crypto industry shared his opinion on how XRP could benefit from the lawsuit between Ripple and the United States Securities and Exchange Commission (SEC).

Read Also: XRP Community Headed for the White House with Petition to Deem XRP a Currency

Communicating with his teeming followers on Twitter, Flood stated that XRP is currently in an interesting spot. He said the settlement of the lawsuit could be a bullish catalyst that will massively pump the price of the cryptocurrency.

Flood tweeted, “XRP is actually in an interesting spot right now because a settlement of the lawsuit could be a bullish catalyst and lead to a pump, but for now I think there are better assets.”

Bitcoin (BTC) Could Maintain Its Stability above $50,000 in Most of 2021

The trader said for the majority of 2021, Bitcoin (BTC), the largest cryptocurrency by market cap, will trade above $50,000 for the majority of 2021. He further added other altcoins that would replicate the trend of Bitcoin in maintaining higher prices for the most part of this year:

2021 predictions: Bitcoin trades above $50,000 for the majority of 2021. SNX (Synthetix) trades above $24 this year. DeFi (decentralized finance) TVL (total value locked) 100B+ by Q4.”

Flood’s Biggest Loss and Gain in Bitcoin

When Flood was asked about his biggest loss in Bitcoin, he said he lost 44 BTC when the top digital asset was priced at $7,800. While his biggest gain for a single is about $1 million:

“+$880k in 24h on a short for derivatives, spot swings a lot more than that each day though at this point.”

Read Also: Prominent Crypto Lawyer Weighs Ripple’s Chance Considering High-Ranking Officials Involved in the Lawsuit

The trader also responded to a question about how he was able to grow his account to the point where he can trade with seven figures or more consistently:

“6 years, blood sweat and tears, $20k or so, and just keep longing.”


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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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