- Experts believe that the payment giant is poised to win the SEC vs. Ripple case as we head to the end of discovery.
- Proponents have predicted a bullish Q1 for Ripple, as the altcoin eyes 33% gain.
- Analysts have observed a triangular pattern in the Ripple price chart, expect recovery similar to the end of December 2021.
Ripple price continued its downtrend in 2022. Analysts have evaluated the Ripple price trend and predicted a reversal.
SEC vs. Ripple case heads to the end of discovery
2021’s biggest theme was the Securities Exchange Commission (SEC) vs. Ripple case. As the end of the discovery period approaches, experts believe that Ripple is poised to win the case that could draw to a close by April 2022.
The XRP Army, a community of supporters of the Ripple network, is rallying in support of Attorney John Deaton, criticizing the SEC’s stance on the payment giant’s sale of the altcoin. Deaton is a key figure opposing the SEC’s lawsuit.
The SEC’s case against Ripple has negatively impacted the altcoin’s price. Ripple price recovered from the drop at several points in 2021. Ripple labs continued to grow its ecosystem and revealed that 2021 was one of the best years for the payments giant.
Analysts have evaluated Ripple price trends and noted a triangular pattern. In 2021, Ripple price recovered from the price drop through a spike in demand and investor interest. Proponents believe that the altcoin is ready for a 33% price rally to hit the $1 target.
@CarpeNoctum, a crypto analyst and trader, notes that there is no fixed trend in Ripple’s quarterly growth.
- $ETH now has an eight(!) quarter positive streak
— Josh Olszewicz (@CarpeNoctom) January 3, 2022
- $XRP Qs generally don't hold any trend whatsoever pic.twitter.com/pxmlAhpDnM
@XRP_Pro, a pseudonymous cryptocurrency analyst, has pointed out the similarities between the current price trend and the 2021 bull run of Ripple. @Bitboy_Crypto, a crypto educator and analyst, is bullish on Ripple price.
$XRP pump when no one is looking ♂️ ⏰ pic.twitter.com/o2EqsXu7mR
— Ben Armstrong (@Bitboy_Crypto) January 2, 2022
FXStreet analysts believe that Ripple price could crash to $0.65 if it breaks crucial support.
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
Why Polygon’s MATIC bulls could be too eager and drop the ball on this rally
Polygon (MATIC) price action has been on treading nervously this week, with weekly earnings switching back and forth between profit and loss. It all comes down to trading this Friday to see if bulls can eke out a winning week.
How can traders squeeze in more gains as Shiba Inu price teases a 42% rally
Shiba Inu price positively reacted to the United States inflation report, forming a bullish candle on its daily chart. The second-largest meme coin brushed shoulders with $0.00001287 but pulled back to test support highlighted by the 100-day Simple Moving Average (SMA) at $0.00001170.
CRO price sees bulls using their last ammunition to attack $0.16
Crypto.com Coin (CRO) price action is looking to execute a bullish breakout above $0.16. Ignorant bulls will try to be part of that rally, but that could prove a big mistake as a few risks need to be taken into account to be sure that this rally still has legs.
Solana traders’ focus on $58 as the rally starts to slow down
Solana (SOL) price action is set to close out the week with a mere 7% gain depending on where it ends Friday evening after the US closing bell. Overall it has been a good trading week from a fundamental perspective and technicals in a supporting role.
Bitcoin: If bulls lose control here, BTC could revisit $21,000
Bitcoin price shows an interesting setup that could reveal its next move. On closer inspection, its technicals support a bearish outlook for the leading crypto.