Lorenzo Stroe
Independent Analyst
- Ripple sued Youtube last year for failing to enforce policies against fake XRP accounts.
- Youtube will work alongside Ripple to stop fraudulent accounts on the platform.
- XRP price is contained inside a descending triangle pattern which could break soon.
Back in 2020, Ripple and its CEO, Brad Garlinghouse, sued Youtube because the platform wasn't enforcing its own rules against fake accounts conducting fake XRP giveaways.
Ripple price could see a 44% breakout
Despite the announcement by Brad Garlinghouse about Youtube and the prevention of XRP scams on the platform, most investors remain concerned about the ongoing SEC lawsuit. The tweet received significant backlash from investors asking about the suppression of XRP price.
XRP/USD 12-hour chart
The digital asset has established a descending triangle pattern on the 12-hour chart. A breakout above the upper resistance trendline at $0.48 will quickly drive Ripple price towards $0.70, a 44% move calculated using the height of the pattern as a reference point.
XRP/USD 12-hour chart
On the other hand, a rejection from the upper boundary will drive Ripple price down to the lower trendline at $0.414. Losing this critical support level will likely push XRP down to $0.235.
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