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


Share:
  • 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

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

Ethereum whales turn bullish with Shanghai upgrade less than a month away

Ethereum whales turn bullish with Shanghai upgrade less than a month away

Ethereum (ETH) whales holding between 1,000 and 10,000 ETH have been scooping up the altcoin consistently for a week. With the countdown to the Shanghai upgrade and the ETH token unlock event, there is a spike in Ethereum demand among retail investors. 

More Ethereum news

Ripple price to close the week with a bang as next week will be crucial for another 20% profit

Ripple price to close the week with a bang as next week will be crucial for another 20% profit

Ripple price is closing this week with very profitable numbers, even if a fade is ongoing. The fade occurred after bulls received a firm rejection at $0.50 and have been trading lower from that level since. If bulls can keep their hands on this momentum and the Relative Strength Index (RSI) is not overbought, at least some 20% profit is being prepared for next week.

More Ripple News

Will Cardano price advance as analysts call it one of the favorite altcoins next to EOS and COLT to pop?

Will Cardano price advance as analysts call it one of the favorite altcoins next to EOS and COLT to pop?

Cardano (ADA) price is making the cut and has been shortlisted by several analysts that have put ADA in their top altcoin, primed to explode to the upside soon. ADA is flirting with a second week of gains and could recover its attempt to hit $0.415 as a crucial level for any further uptrend or downtrend.

More Cardano News

Is the new partnering-up strategy the right way for Vechain price to avoid a 30% correction?

Is the new partnering-up strategy the right way for Vechain price to avoid a 30% correction?

Vechain (VET) price had a busy week as several new partnerships were announced. Next to integrating with Dappradar to promote cross-chain visibility, the partnership with Boston Consulting Group might be the one that draws the most attention. Vechain price though is not taking this news in a good way and rather is at risk of tanking further.

More Cryptocurrencies News

Bitcoin: Should you trust this BTC sell signal or wait for $34,000?

Bitcoin: Should you trust this BTC sell signal or wait for $34,000?

Bitcoin price shows a clear picture of its rally after it breached a long-term bullish pattern in mid-January. As the rally takes a breather, sell signs have started to emerge, which is putting investors in a confused state. 

Read full analysis

BTC

ETH

XRP