Analyst Who Knows 3 Times: Ripple Can Jump These Levels!

A crypto analyst known for his accurate predictions said that Ripple (XRP) price will fluctuate 50% based on the SEC lawsuit.

Ripple investors hopeful for a potential victory over the SEC

In the latest developments from the case, District Court Judge Analisa Torres on September 29 ordered the commission to release documents penned by William Hinman, the former director of the SEC’s corporate finance division. Hinman previously said that there are no securities on Ethereum. Ripple’s defense is that XRP is also not a security, based on Hinman’s writings. This is the opposite of what the SEC claimed in the December 2020 lawsuit.

XRP has since been delisted from many regulated crypto exchanges, including Coinbase and Bitstamp. From a technical standpoint, we see that the XRP price is therefore undervalued compared to its competitors. A possible Ripple win could change that, given that the token has increased by 20% the day after Judge Torres’ order.

Technically 50% rally still far away

Specifically, Ripple is now testing multi-year descending trendline resistance. All of them turn around $0.57. A Ripple win will help XRP break decisively above this merger.

Such a breakout will cause XRP to rally more than 50% from the October price towards the next Fib line near $0.72. Conversely, a pullback could bring XRP down 35% from current price levels to the previous support level of $0.31.

Analyst known for his accurate predictions predicted 50% ‘fall’ for Ripple

cryptocoin.com You can take a look at the hit estimates of DonAlt, which we have quoted as “XRP is basically a court case,” says independent market analyst DonAlt. On the technical side, the analyst says rally is possible:

If he wins the case, the XRP price will skyrocket. If they lose it will be a nice -50% candle. Also, a loss of XRP will make other cryptos more vulnerable to attacks, so you better cheer them up.

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