Ripple price sets the stage for 33% advance before the end of discovery
- 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.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
