Ripple price ready to breakout, proponents argue the payment giant is close to a settlement


  • Ripple price prepares to breakout of its downtrend, analysts note the altcoin has built a bullish momentum. 
  • Ripple lawyers inform the court that they believe the US Securities and Exchange Commission could be concealing. 
  • Ripple’s individual defendant’s request for the extension of time to file their answers has been granted. 

Ripple price prepares for a breakout as analysts witness a rise in bullish momentum in the altcoin. Analysts predict an upswing in Ripple’s price trend, setting a target above $0.90. 

Ripple price set to continue its upward trend

Ripple price has built a bullish momentum as the altcoin marches to its 200-day Simple Moving Average above $0.90. Based on the recent updates shared by the defense lawyer, James K. Filan, April 2022 could be a decisive month in the SEC vs. Ripple case.

Ripple’s individual defendant’s request for an extension of time to file their answers has been granted. This has fueled a bullish narrative among Ripple’s investors. 

The CEO and executive of Ripple, Brad Garlinghouse and Chris Larsen, had filed a motion for the extension of time to respond to the SEC’s complaint. The extension was granted until April 8, 2022. 

Proponents believe the individual defendant’s answer would significantly impact the altcoin’s price. Analysts have evaluated the Ripple price trend and noted a building bullish momentum in the altcoin. 

FXStreet analysts believe Ripple price is on track to breakout past $0.87. This is considered a historic pivotal level that has remained key since November 2021. Analysts argue that Ripple price could march towards the 200-day Simple Moving Average, above $0.90. 

Analysts note that Ripple price was stuck in the consolidation phase, forming lower highs and higher lows. However, the altcoin is now on a winning streak, preparing for a bullish breakout in the ongoing cycle. Analysts remain bullish on Ripple price. 


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.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction

SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction

The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.

More TRON News

XRP fails to break past $0.50, posting 20% weekly losses

XRP fails to break past $0.50, posting 20% weekly losses

XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22. 

More Ripple News

ImmutableX extends recovery despite $69 million IMX token unlock

ImmutableX extends recovery despite $69 million IMX token unlock

ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19. 

More Cryptocurrencies News

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in

Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days? 

More Bitcoin News

Bitcoin: BTC post-halving rally could be partially priced in Premium

Bitcoin: BTC post-halving rally could be partially priced in

Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days? 

Read full analysis

BTC

ETH

XRP