XRP Price Prediction : Can XRP Hit $50 After the SEC Case?

 

Bears struggle to hold the XRP price over $0.45, as bulls watch helplessly from the sidelines. An earlier effort to break out of the money transfer token’s $0.47 cap was unsuccessful. We expect XRP to settle near $0.45 before attempting another upward surge.

Ripple vs. the SEC: Indicating a $50 XRP Price Increase

 

A lot of the upward momentum that XRP pricing had for the past month has dissipated, causing it to twice approach $0.55 before sliding back down again. The XRP Army’s morale has risen thanks to Ripple Labs’ string of recent legal victories.

 

As a result of the lawsuit, the price of XRP fell to $0.42, but investors and industry experts are optimistic about the possibility of a rapid recovery to $3.40 and beyond.

 

A successful case against the SEC (Securities and Exchange Commission) is essential for this to occur. In December of 2020, the SEC filed a lawsuit against XRP token issuer Ripple Labs and some of its key executives.

 

The Securities and Exchange Commission has charged Ripple with breaking the law by selling XRP without first registering them. The court has yet to issue a judgement that some believe would affect the whole cryptocurrency business, over two years after the filing. Put another way, the court will establish a precedent for the classification of cryptos as securities.

 

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What is Driving Ripple Labs to the Finish Line?

 

US District Judge Analisa Torres has approved I-Remit and TapJets to participate in the Ripple vs. SEC case as amici curiae. The judge gave each side until the end of October to submit their amicus brief.

 

Contrary to the wishes of the SEC, the details of the controversial Hinman speech will now be made public. Ripple has contended that a speech given by former SEC commissioner Willian Hinman should be taken into account.

 

That is to say, Ripple is looking for the final possible argument to use against the regulator over the decision to classify Bitcoin (BTC) and Ethereum (ETH) as cryptocurrencies rather than securities.

 

Deaton has expressed gratitude to XRP investors for their patience and support throughout.

Feel proud. Your voices are being heard. And they call it:#DecentralizedJustice

— John E Deaton (220K Followers Beware Imposters) (@JohnEDeaton1) October 20, 2022

 

There will be significant developments in the litigation on Monday, October 24, when the SEC and Ripple are scheduled to release publicly redacted versions of their rebuttal filings.

 

XRP Price Prediction

 

According to Ripple’s CEO Brad Garlinghouse, the verdict in the company’s lawsuit against the SEC could be delayed until the end of the first quarter of 2023. In the event of a good outcome, the price of XRP might rise to as high as $50.

 

If the blockchain startup prevails in court, the XRP price, according to a recent forecast by Finders’ panel, may reach $3.81 by the end of 2025. One of the more upbeat panelists, Craig Cobb from Tradercobb.com, predicted that the XRP price might reach $1.00 by December 31, 2022.

 

Morpher CEO Martin Froehler was the most bullish of the Finders panelists, projecting a $5 XRP price in 2025. He calls it “a big success for the entire crypto business” if Ripple prevails in court.

 

If the double-bottom pattern holds, the price of XRP might rise by as much as 45 percent.

 

 

After a prolonged decline, a double bottom is a bullish sign to look for. With backing at the second bottom, the trend typically changes bullishly, giving buyers control. As soon as XRP’s $0.42 support level was tested, the price began to rise again.

 

The 50-day and 100-day Simple Moving Averages (red and blue, respectively) now act as minor barriers for the XRP price to climb beyond. If the XRP price is going to make good on its 22% projected gain from the breakout point (neckline) to $0.66, this selling congestion zone needs to be weakened.

 

The Moving Average Convergence Divergence (MACD) indicator is displaying a buy signal. Before placing large bets on a bullish market development, traders should wait for the MACD to pass above the mean line.