- 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.
Recommended Content
Editors’ Picks
Lido TVL pares recent gains as ETH, MATIC, SOL price rally wanes
Lido Finance Total Value Locked (TVL), the value of all crypto assets held in the protocol, reached $15.37 billion in the week to October 2, the highest level since August.
ETH staking could gain short-term preference over bonds despite record yields
Ethereum staking has seen a surge in the last seven days. Treasury bill yields are currently outperforming at the highest level since 2007.
Yield Protocol announces closure amid weak demand and regulatory challenges
DeFi platform Yield Protocol has announced its closure, citing weak demand for fixed-rate borrowing. The news comes against the backdrop of mounting regulatory pressure from global watchdogs.
Ripple victory over SEC reaffirmed as Judge Torres denies regulator’s motion to appeal
Ripple Labs victory over the US Securities and Exchange Commission (SEC) around mid-July has been reaffirmed after a federal judge rejected the commission’s motion to file an interlocutory appeal.
Bitcoin: BTC recovery rally could be bull trap in disguise, here’s why
Bitcoin (BTC) price remains unfazed even after the multiple spot BTC ETF delays from the US Securities & Exchange Commission (SEC). But investors need to be careful with the ongoing BTC rally as it could be a trap for early bulls.