• XRP has been displaying immense strength, despite the crypto market’s turmoils.
• The upper hand gained in the lawsuit against the SEC could have been a catalyst for XRP price growth.
• A well-known analyst predicts that XRP could soon reach prices of between $13 and $22.
XRP Price Strength
XRP has displayed immense strength throughout the crypto market’s turmoils, maintaining its value and even gaining ground over other coins. This recent increase in price may be due to an upper hand gained by Ripple in its lawsuit against the SEC, which may act as a catalyst for further growth in the coming days.
A well-known analyst known as Dark Defender has predicted that XRP will soon reach prices of between $13 and $22. After finding a base to rebound from following a couple of bearish daily closes, XRP is currently testing one of its important levels at a 50-day MA and attempting another rebound. The analyst points to a monthly MACD wave turning bullish, similar to when it turned bullish back in October 2020 and caused an 900% spike in price up to around $2 per token.
Ascending Trend Line
The price of XRP is currently trading along an ascending trend line, indicating that there could be potential for an upcoming 10x to 15x rally which could push the token beyond double digit figures. With this potential growth on the horizon, investors are keeping their eyes peeled on Ripple’s progress with its legal situation with SEC regarding whether or not they will label its tokens as securities or not.
SEC Case Against LBRY
The sentiments surrounding Ripple have become increasingly bullish after the SEC dropped their arguments against LBRY claiming that their tokens were not securities – giving hope to investors who are expecting a similar outcome for Ripple vs SEC case which could further fuel future price rises if successful.
Overall, XRP is looking strong both technically and legally – with Dark Defender’s predictions providing optimism around what lies ahead for investors should these predictions come true. While it remains unclear how exactly things will turn out with regards to Ripple’s lawsuit against SEC – investors are watching closely as any news from this front could have major effects on future pricing movements