- After non-profit government watchdog accused SEC of bias against Ripple, investors expect positive outcome.
- Long-term investors predict a compromise with the SEC and a positive impact on Ripple price.
- Ripple price has posted over 13% gains over the past week, analysts expect the uptrend to continue for XRP.
Long-term investors expect Ripple to catch a break as a non-profit watchdog brings bias allegations against the SEC. Ripple’s success in the lawsuit filed by the SEC could trigger a bull run in the altcoin.
Ripple defies all odds and posts 13% weekly gains
Ripple investors are positive of the altcoin’s win in the case that the Securities & Exchange Commission (SEC) brought against the payments giant. Empower Oversight, a non-governmental organization, filed a lawsuit against the SEC accusing the regulator of bias against Ripple.
Proponents expect Empower Oversight to succeed and lead to a compromise in the SEC v. Ripple case. The SEC’s conflict of interest in declaring XRP as a security and taking no action against the largest altcoin Ethereum has invited public scrutiny.
Ripple price posted 13% gains over the past week, and analysts predict a continuation of the altcoin’s uptrend. Analysts are bullish on Ripple and a possible bullish trigger from a favorable outcome in the SEC v. Ripple case.
Cryptocurrency analysts at the YouTube channel CoinsKid recently evaluated the Ripple price trend. The analysts believe that Ripple is mirroring the double bottom pattern observed in the last two weeks of July 2021.
Ripple price broke past resistance at $0.83 and is currently trading at $0.89. The analyst has predicted that Ripple price could break into a rally if it stays on track with the ongoing trend.
FXStreet analysts have predicted that Ripple price could face rejection and drop lower.
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
Crypto Today: Bitcoin is less than 10% away from all-time high as Ethereum ETF approval anticipation brews
Bitcoin trades around $68,000 early on Monday, less than 10% away from its all-time high of $73,777 on Binance. Ethereum ETF anticipation brews among traders and Ether investment products see inflow of over $45 million in the past week.
Ripple lawsuit settlement likely soon, says Brad Garlinghouse, XRP hovers around $0.60
Ripple (XRP) trades around a key psychological level of $0.60, early on Monday. The altcoin recently made headlines for its highest weekly gain of 2024, over 40%. XRP sustained nearly 21% of the gains from the last seven days.
Solana could cross $200 if these three conditions are met
Solana’s total value locked climbs 18% in July to $5.38 billion, as seen on DeFiLlama. Solana sustains over 20% gains in the past seven days, corrects nearly 3% on Monday. Active addresses and new address count in the Solana network have increased throughout July.
ALT, WLD, ENA, ID set for $200 million token unlocks next week
The crypto market is set to experience another wave of token unlocks next week, with Altlayer (ALT), Worldcoin (WLD), Ethena (ENA), and Space ID (ID) set for a combined token unlock worth about $200 million.
Bitcoin: Will BTC continue its bullish momentum?
Bitcoin (BTC) price increased by 5.5% this week until Friday after breaking above a descending trendline. Currently, it is trading slightly higher by 0.23% at $64,166.