Ripple XRP Price Analysis Prepares for Breakout, Ripple vs SEC Update

Lutfi

Ripple XRP Price Analysis Prepares for Breakout Ripple vs SEC Update
Ripple XRP Price Analysis Prepares for Breakout Ripple vs SEC Update

Rancakmedia.com – Ripple (XRP) has become one cryptocurrency most durable over the previous year. Analysis Ripple price remains attractive, even surging to an all-time high in April. Despite the XRP vs. SEC, which has been dragging on since late 2020.

It is likely that Ripple Labs will win a lawsuit filed by the US Securities & Exchange Commission (SEC) which argues that XRP is an investment and security contract. And when this happens, Ripple will not stop.

Ripple versus SEC Update: SEC Could Catch Up to Ethereum

The SEC recently revised its 2018 decision to say that cryptocurrencies like Bitcoin and Ethereum were never defined as non-securities.

Once the SEC vs XRP issue is resolved, it is possible that regulators will look at Ethereum. However, in the current Ripple vs SEC lawsuit, the SEC has not determined whether their view on Bitcoin and Ethereum is one of securities or not.

Nonetheless, supporters of the payments giant around the world feel that Ripple is getting closer to winning against the SEC in the lawsuit.

Ripple versus SEC Update, SEC Could Catch Up to Ethereum

Cryptocurrency experts and investors like Kevin Cage remain positive on the price of XRP noting that it remains between the 10 crypto top despite a legal battle with the SEC and a series of delistings from exchanges.

Ripple Price Analysis Poised For Breakthrough

The price for XRP has been on a downtrend since November 07 and is now trading in the green at $0,7923. On the daily chart, this price action has formed a falling parallel channel.

Since falling below the psychological $1 level on November 26, there have been several attempts to reclaim this critical level. The rejection of the channel's upper boundary, coupled with selling pressure from the crypto market collapse on December 3, pushed the price of Ripple lower.

At the time of writing, Ripple is battling psychological pressure from the $0,80 level above. A close above this level may see XRP price soar above the $0,8300 resistance level enclosed by the upper boundary of the descending channel indicating a bullish breakout.

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Lutfi

Hi, let me introduce myself, Lutfi Hulasoh, I am a writer and techno blogger. I started creating a personal blog writing informative articles about the latest trends and developments in technology. My writing covers a wide range of topics, from mobile applications to artificial intelligence, and I can also provide easy-to-understand explanations to help readers understand complex concepts.