U.Today - Major crypto analyst @BCBacker has posted a tweet, telling his 280,600 followers that the , favored by many, is currently outperforming the rest of the altcoin market.
XRP has surpassed the 200-week moving average versus the whole altcoin market. @BCBacker analyst ironically tweeted that the crypto market is now measured not in U.S. dollars but in XRP instead.
He also added that, currently, despite the aforementioned news, XRP is in a pullback that has been lasting a week so far and may last longer.
in decline since Aug. 9 and has since lost 9.13%, now changing hands at $0.59945.
Today, XRP faced another fall in price, dropping by more than 4% and reaching the aforementioned price level.
According to another tweet, the analyst now holds more XRP than ETH or BTC; XRP is the number one holding.
As for the two leading cryptos, @BCBacker tweeted that they are more bullish on Ethereum than on Bitcoin. He stated: "I can see a potential path forward with ETH, rather than with BTC. So, if it is any, likely not as big of a % as BTC."
XRP saw a price surge recently after the SEC partly lost its case against . Judge Analisa Torres ruled that Ripple's programmatic sales and sales on exchanges to retail investors do not qualify as securities. However, the judge did state that the company's XRP sales to institutional investors were security sales. Still, Ripple Labs eyes this as a major victory, even though the SEC is now appealing this ruling.