The lawsuit between Ripple Labs and the SEC over allegations that XRP was being sold as an unregistered security in December 2020 extended to 2022, with the discovery process delayed for the third time. The possible effects of the lawsuit, which is expected to conclude in February, on the XRP price is a matter of curiosity. We have compiled the predictions of Credible Crypto, known as the Ripple prophet, for Kriptokoin.com readers.
Ripple prophet thinks XRP price will explode after SEC lawsuit
Closely followed crypto analyst Credible Crypto says that the XRP price may rise after the lawsuit between Ripple Labs and the SEC is resolved, but may show additional declines until then. The analyst stated in his recent Youtube post that XRP techniques are now showing more negative activity. Credible says:
XRP is not looking very hot at the moment… I believe we will most likely aim as low as $0.50 and move on to the current weekly demand level here. This level is notable because after effectively six months of consolidation, we have seen a strong upward movement from this level.
Analyst thinks consolidation points will be decisive:
Once this consolidation starts to break up or down, the birth of the break often works as support or resistance when revisited. So, from a purely long-term perspective, you can generally assume that as XRP moves closer to this region, this broad region will act as support as it has in the past.
Despite the drop, Credible Crypto believes there are fundamental reasons to trust XRP
According to the crypto analyst, the litigation between Ripple Labs and the SEC that began in December 2020 could provide regulatory clarity for the altcoin project, while kicking off work within the rest of the market. Credible shared its predictions with:
Despite the stagnant price action, I continue to hold large amounts of XRP because I see it as a hedge against the rest of the market. I believe that if the SEC lawsuit is settled, the XRP price will be in favor, and when resolved, XRP will effectively be the only cryptocurrency with regulatory certainty.
Analyst predicts what could happen for Ripple (XRP) after litigation:
When the issue is finally resolved, you can expect a rise in the XRP price. Therefore, if you are waiting for the decision of the case before buying, it will be too late. So you’re gambling right now and it pays off, if Ripple wins the case, XRP will skyrocket and everything else is at the SEC’s whim and we have no idea what will happen.
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