Ripple long-term investors bet on XRP, expect bias lawsuit against SEC to succeed


  • After non-profit government watchdog accused SEC of bias against Ripple, investors expect positive outcome. 
  • Long-term investors predict a compromise with the SEC and a positive impact on Ripple price. 
  • Ripple price has posted over 13% gains over the past week, analysts expect the uptrend to continue for XRP. 

Long-term investors expect Ripple to catch a break as a non-profit watchdog brings bias allegations against the SEC. Ripple’s success in the lawsuit filed by the SEC could trigger a bull run in the altcoin. 

Ripple defies all odds and posts 13% weekly gains

Ripple investors are positive of the altcoin’s win in the case that the Securities & Exchange Commission (SEC) brought against the payments giant. Empower Oversight, a non-governmental organization, filed a lawsuit against the SEC accusing the regulator of bias against Ripple

Proponents expect Empower Oversight to succeed and lead to a compromise in the SEC v. Ripple case. The SEC’s conflict of interest in declaring XRP as a security and taking no action against the largest altcoin Ethereum has invited public scrutiny. 

Ripple price posted 13% gains over the past week, and analysts predict a continuation of the altcoin’s uptrend. Analysts are bullish on Ripple and a possible bullish trigger from a favorable outcome in the SEC v. Ripple case. 

Cryptocurrency analysts at the YouTube channel CoinsKid recently evaluated the Ripple price trend. The analysts believe that Ripple is mirroring the double bottom pattern observed in the last two weeks of July 2021. 

Ripple price broke past resistance at $0.83 and is currently trading at $0.89. The analyst has predicted that Ripple price could break into a rally if it stays on track with the ongoing trend. 

FXStreet analysts have predicted that Ripple price could face rejection and drop lower. 

 


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


Recommended Content

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates while ETH and XRP show some strength

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates while ETH and XRP show some strength

Bitcoin (BTC) consolidated between $94,000 and $100,000 in the last nine days. Ethereum (ETH) and Ripple (XRP) prices stood relatively stronger and have gained nearly 3% and 7%, respectively, this week.

More Cryptocurrencies News
Trump's US reciprocal tariffs pause fails to improve Bitcoin and crypto market outlook

Trump's US reciprocal tariffs pause fails to improve Bitcoin and crypto market outlook

Bitcoin (BTC) and top cryptos halted their declines following a pause in President Donald Trump's reciprocal tariff plans, which were originally scheduled to go live on Thursday.

More Cryptocurrencies News
Ripple vs SEC battle nears end as the regulator acknowledges Grayscale XRP ETF filing

Ripple vs SEC battle nears end as the regulator acknowledges Grayscale XRP ETF filing

Ripple's XRP is up 4% in the early hours of Friday following the Securities and Exchange Commission (SEC) acknowledgment of Grayscale's 19b-4 filing to convert its XRP Trust to an ETF.

More Ripple News
200,000 New Investors Buy Ripple (XRP) 30-Days After Gensler’s Farewell: What Next for Stellar (XLM)?

200,000 New Investors Buy Ripple (XRP) 30-Days After Gensler’s Farewell: What Next for Stellar (XLM)?

Ripple (XRP) price consolidated around $2.40 on Thursday, up 11% since Monday, technical indicators suggest Stellar (XLM) has joined the rally.

More Ripple News
Bitcoin: BTC consolidates before a big move

Bitcoin: BTC consolidates before a big move

Bitcoin's (BTC) price has been consolidating between $94,000 and $100,000 for the last ten days, and, when writing on Friday, it hovers around $97,000. Despite this consolidation, US Bitcoin spot Exchange Traded Funds (ETFs) data recorded a total net outflow of $650.80 million until Thursday, hinting signs of weakness among institutional investors.

Read full analysis
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

BTC

ETH

XRP