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.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
