The ongoing fight between Ripple and the US Securities and Exchange Commission (SEC) is experiencing many breaking points and turning points as the latest hearing becomes pretty clear. cryptocoin.com As we have reported, the statement of former SEC executive William Hinman is still unclear and people around are eagerly waiting for the clarification. According to some, this may have forced the XRP price to stay at a minor support.
Where is Ripple price watching right now?
According to cryptocurrency expert Sahana Vibhute, given the price action over the past week, the price broke the bearish channel with consecutive green candles. As soon as it entered an ascending channel and after holding lower for a while, the price quickly jumped up. Interestingly, the price is currently in the middle of the channel and struggling to break above the levels.
Considering the previous patterns and price movements, XRP price may again experience a slight pullback. A major recovery could also continue, which could take the price to the next resistance zones. Despite a large bounce, the price could decline to current resistance levels near $0.77 before making a significant jump to $1.
Analyst: $16 until April 2022!
However, there are some extreme bullish predictions in the crypto space, which hints at a double-digit number. A popular analyst predicts that the price could go as high as $16 by April 2022. Moreover, he points out that by the end of July 2022, it could experience a sharp drop of around $1.5. Interestingly, the analyst predicts a one-month bounce from $1.6 at the end of March to above $15. So, can this giant move be attributed to the ongoing Ripple and SEC lawsuit that could result in this period?
For many, events such as the exchanges’ relisting of XRP could fuel the price increase. However, with the developments in Ripple and the SEC case, the XRP price could find significant support. XRP is trading at $0.75 at the time of writing and has gained 4% momentum in the last 24 hours.
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