XRP Holds Support, Could Lead Next Bull Run

• XRP is managing to hold above the sensitive $0.50 support area 
• Crypto influencer BitBoy predicts XRP could lead the next bull market if two things happen. 
• Bitcoin bull Michael Saylor’s company just scooped up 1,000 bitcoins 

XRP bulls continue to defend the $0.51 level, preventing the No. 6 crypto from dipping below the sensitive $0.50 support area. 

According to a technical analysis by the Twitter account Egrag Crypto, XRP’s next major target is $0.63, which could pave the way for the $1 level. He urged the XRP army to “stay steady.” 

Bullish XRP Bet 

Crypto influencer Ben Armstrong has made a bold prediction on XRP.  According to the BitBoy Crypto founder, a favorable settlement for Ripple in the SEC case, coupled with the lack of appeal, would be enough to catapult  XRP to become the “No. 1 performing major coin on the next bull run.” He added that the “suppression is almost over.” 

However, even if things go Ripple’s way but the SEC appeals, the case could drag on for years. That would cause a great deal of frustration to traders hoping crypto exchange Coinbase will relist their favorite crypto sooner than later. Digital trading platform Uphold reminded investors that it never delisted XRP in the first place. 

Coinbase Chief Legal Officer Paul Grewal recently told the Thinking Crypto show that the Ripple/SEC case has “a very high likelihood of being appealed.” Meanwhile, Armstrong believes that $30K BTC is “imminent,” which incidentally could be good for XRP. 

Bitcoin Poised to Move Higher, Could LIft XRP 

While XRP has been decoupled from Bitcoin lately, it could receive a boost from its larger peer soon. The precious metal gold has crossed $2,000; it’s a good sign for other store-of-value assets, like Bitcoin. Galaxy Digital CEO Mike Novogratz says gold and bitcoin are “poised to move higher.” A bitcoin rally could unlock further gains in XRP/help XRP to regain its upward momentum. 

MicroStrategy Buys More Bitcoin

Meanwhile, as bitcoin hovers at over $28,000, BTC bull Michael Saylor is taking advantage of it. The MicroStrategy CEO announced the company had purchased over 1,000 bitcoins at a price of over $29 million. MicroStrategy paid just over $28K per coin, on average. ‘

The latest buying spree brings the tally of BTC held on MicroStrategy’s balance sheet to 140,000 bitcoins for approximately $4.17 billion.