Ripple (XRP): After the SEC, it will return to $3?

Amid the gloom, Ripple (XRP) is no exception. However, the altcoin has gone through explosion phases during the previous bear market. Precisely at times when the rest of the market was in free fall. For what reasons? The company never stops growing, even in bear marketeven during his lawsuits with the SEC – Securities and Exchange Commission, the US stockbroker.

A Tough Cycle for Ripple XRP

The cryptocurrency Ripple (XRP), created by Brad Garlinghouse in 2012, has not had a very easy market cycle. However, in 2017 it was one of the big stars. Investor gains were by far the largest in the market. The 2017 bull run was an easier time, no Shiba Inu (SHIB). Ripple (XRP) had surged above $3 on January 2, 2018, marking the apotheosis of the Bitcoin bubble and also the start of the most violent correction of the decade.

Many investors buy at the current level. From 0.16 to 0.32 dollars, the Ripple (XRP) is at almost foolproof support zones. This is the zone it occupied in 2017, before going off in stages, $1, $2 and $3.34. The market remembers these goals, but also these strong areas of support. That’s all we need to find strong purchasing volumes as soon as we approach them.

In 2021, however, the situation seems to have changed. Brad Garlinghouse and Ripple are at the heart of the first lawsuit between the SEC and a crypto firm. A case that will undoubtedly set a precedent! All eyes in the industry are therefore on the matter, and Mr. Garlinghouse has no room for error. Ripple’s price has therefore followed its own bull run, according to SEC announcements and the evolution of the lawsuit.

Technical analysis of the situation in 2021 – 2022

Instead of going above $3 for its old ATH, Ripple (XRP) hit “just” $1.99, leaving a sour taste in the market. wallet investors. It was April 13, 2021. And as the rest of the market experienced a final bullish wave in early November, the ripple (XRP) was caught in a compression triangle, a chart pattern that led to a return to the support zone.

Ripple, XRP, Crypto, cryptocurrency, SEC, brad garlinghouse
In 2021, the ripple (XRP) got stuck in a chartist triangle opening from below. (trade view)

But the chart above shows another interesting element. The volume may increase significantly as the price moves below the green highlighted area of ​​$0.50. Even if the market seems to lose interest in this corner, hodlers are always present. They wait. But what ?

In fact, Ripple (XRP) is one of the best projects in blockchain and crypto. The company is expanding globally, especially in the Arabian Peninsula. The company chained partnerships even though it was in the middle of a trial. Its service, the instant and inexpensive money transfer, is now a real competitor of SWIFT. No crypto and blockchain company has achieved its goals so accurately and could not really replace a giant like SWIFT.

The only thing stopping Ripple (XRP) from exploding and catching up in 2021 is the lawsuit with the SEC. But this process seems to be coming to an end. Whatever the outcome, the jury’s decision will have an extremely violent impact on cryptocurrency charts.

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