- Payments giant Ripple has given the SEC more trouble than anyone in the cryptocurrency industry.
- The policy chief of the US Blockchain Association said Ripple is putting up the hardest fight of their careers.
- Ripple recently scored a victory in court as Judge Sarah Netburn asked SEC to reveal documents on Hinman’s speech.
- Analysts believe Ripple price is currently consolidating inside a potential symmetrical triangle, set target of $2.31.
Proponents believe that the outcome of the SEC vs. Ripple case is of consequence for the entire cryptocurrency ecosystem. Ripple has been embroiled in a battle with the SEC since December 2020, and the payments giant secured a win in a recent ruling by Judge Netburn.
Analysts predict Ripple price rally after victory in recent court ruling
Jake Chervinsky, the head of Policy at the US Blockchain Association, a crypto advocacy firm, commends that Ripple continues to defend itself against the Securities & Exchange Commission’s (SEC) allegations.
Chervinsky is considered an expert on crypto regulation. The advocate believes that Ripple has given the SEC the most trouble, more than any other cryptocurrency projects and Elon Musk, CEO of Tesla.
Chervinsky was quoted as saying:
No matter your view on Ripple, two things seem clear: They’re giving the SEC more trouble than anyone in crypto, maybe more than anyone period, including Elon [Musk, CEO of Tesla and SpaceX]. They’re the leading dispute on securities law, if only because they’ll fight to the death unlike those who caved & settled.
Ripple’s legal tussle with the regulator has set a precedent for the entire crypto industry.
Analysts have evaluated the Ripple price trend and predicted a rally in the altcoin’s price. @DaCryptoGeneral, a cryptocurrency analyst and trader, believes that Ripple price is currently consolidating inside a potential symmetrical triangle. The analyst expects a big move in Ripple price and set a target of $2.31 for the altcoin.
$XRP (1D); price is currently consolidating inside a potential symmetrical triangle.
— CRYPTO GENERAL (@DaCryptoGeneral) January 17, 2022
I'm expecting a big move in price to upside once the breakout of the symmetrical triangle is confirmed,the price will rally to key level around $2.31 as the target of the symmetrical triangle pic.twitter.com/iL1sPR55wy
FXStreet analysts note that the Ripple price trend looks bullish, and the altcoin could hit $1.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Price: Whales ready to push BTC higher, accumulate $931 million worth of Bitcoin
Large wallet investors on the Bitcoin blockchain have shown signs of sustained accumulation throughout the bear market. Analysts have predicted a rally in Bitcoin price in the short term.
Ethereum price sees its dreams of $1,400 shattered
Ethereum (ETH) price action has been printing some nice gains with 7% on the docket in just two trading days this week. This third trading day indicates a change in sentiment that could see bearish pressures mounting.
Cardano price action sees traders taking out their erasers as ADA price pulls back
Cardano price is currently down over 1% for the day as traders cut their positions and take their gains out of fear price action could collapse anytime soon.
XRP price looks for a firm footing to catalyze a 20% rally
XRP price has produced a key signal that reveals the underlying bullish intent. The only requirement now is sustenance from the big crypto or another leg-up.
Bitcoin: BTC’s Q3 close and what to expect in Q4?
Bitcoin price has developed a bullish divergence with RSI, hinting at more upside. Despite the optimistic technicals, investors should expect volatile swings before the end of the third quarter of 2022.