Crypto Trader Predicts Surge for Stellar (XLM) Competitor Against Bitcoin, Offers Strategy for Dogecoin and Ethereum
A prominent crypto analyst has highlighted a potential surge for a competitor of the global payments network Stellar against Bitcoin. In a recent analysis session, a well-known crypto trader named Kaleo shared with his sizable social media following that XRP, the native token of the XRP Ledger, is poised for a significant upswing against BTC following the resolution of its legal dispute with a major US regulator.
Kaleo pointed out that the legal battle between XRP and the U.S. Securities and Exchange Commission (SEC) concluded favorably for XRP when a judge ruled that the retail sale of XRP tokens did not meet the criteria to be classified as a securities contract. Despite Ripple, the company behind XRP, being fined $125 million for improper digital asset sales, Ripple’s CEO viewed the outcome as a positive development for the industry.
At the time of writing, XRP was trading at $0.611, marking a notable 23% increase over the past 24 hours. Shifting focus to Dogecoin, Kaleo suggested that there is still time for traders to accumulate the meme-based asset before it surpasses the $0.29 price level. With DOGE currently valued at $0.104, it saw a 5% gain within the last day.
Regarding Ethereum, the leading smart contract platform, Kaleo expressed optimism about its potential to reach a new all-time high soon. While he anticipated some price fluctuations in the near term, he encouraged bidding at the current levels. Ethereum was trading at $2,498 at the time of the analysis.
In the volatile world of cryptocurrencies, experts like Kaleo provide insights and predictions that can guide investors in navigating the market trends. As the crypto landscape continues to evolve, keeping a close watch on these developments can offer valuable opportunities for those involved in digital asset trading.
