Top analyst predicts XRP could profit from SEC war.

XRP is still trading positively on higher timeframes, despite the recent blow to the crypto market. This is due to the legal battle between the U.S. Securities And Exchange Commission (SEC) and payment company Ripple that began two years ago but has become more relevant than ever as the regulator cracks down on the nascent sector. Speculators and traders are looking to profit from the outcome of this event.

If XRP wins in court, other tokens will follow a similar trajectory, meaning that XRP could benefit from a positive result.

Currently, XRP trades at $0.52 with a 2% loss in the last 24 hours, but it recorded a 3% profit in the previous week as the market collapsed, with Binance Coin (BNB), Cardano (ADA), and Solana (SOL) experiencing sharp corrections. The SEC’s lawsuits put Binance Coin (BNB), Cardano (ADA), and many more coins under the spotlight. These cryptocurrencies could be deemed securities in the United States, thus rendering most crypto exchanges unable to offer them for a while. As a result, their prices have been suffering and could continue to see downside pressure in the short term.

The analyst recommended that traders stick to Bitcoin and other “dino coins,” such as Litecoin. These digital assets already have a clearer status than newer cryptocurrencies, as the SEC and other regulatory bodies in the U.S. hinted at BTC being a commodity under their laws. On higher timeframes, when the Ripple versus SEC case is finally settled or decided, XRP and other altcoins are likely to rally. The fate of this case could be decided soon, according to top executives within the payment company. In the meantime, traders could see some profits by taking positions on older coins.

Trading The SEC War, Why XRP Is Key

These cryptocurrencies could be deemed securities in the United States, thus rendering most crypto exchanges unable to offer them for a while. Binance.US has begun pausing trading on this and other “crypto asset securities,” as the regulator calls them.

According to pseudonym analyst Daan Crypto, some of the tokens targeted by the SEC could rise again to benefit those traders willing to take the risk. The analyst recommended that traders stick to Bitcoin and other “dino coins,” such as Litecoin. These digital assets already have a clearer status than newer cryptocurrencies, as the SEC and other regulatory bodies in the U.S. hinted at BTC being a commodity under their laws.

The fate of this case could be decided soon, according to top executives within the payment company. In the meantime, traders could see some profits by taking positions on older coins.

Cover image from Unsplash, Chart from Tradingview

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