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XRP Is “Bet On The SEC Process” – Will Ripple Price Jump 50% Up?



 XRP investors  are hoping that the much-maligned cryptocurrency can still take off massively this year if publisher Ripple wins the lengthy legal battle with the American Securities and Exchange Commission (SEC).


Will new documents bring the turning point?

That hope is fueled now that Presiding Judge Analisa Torres on Sept. 29 ordered the regulator to release its filings from William Hinman, the former head of the SEC's corporate finance practice. A major stage win for Ripple.


These are so important because Hinman is said to have recorded in these official documents why he believes Ethereum ( ETH ) is not a security. Ripple makes this assumption not least because Hinman made a corresponding statement at the Yahoo Finance All Markets Summit in June 2018.

Ripple’s lawyers could in turn use Hinman’s arguments to establish why XRP should not be classified as a security according to the logic of the former high-ranking SEC official. The stock exchange supervisory authority is trying to prove the opposite in the process.


Since the proceedings began, XRP has been taken by many major crypto exchanges, including Coinbase and Bitstamp. As a result, it is therefore the only top cryptocurrency that failed to improve on its previous record high in the major bull market of 2020/2021. The accusation of the illegal sale of securities alone has given the XRP course a severe damper.


After all, some observers argue that from a technical analysis perspective, XRP is grossly undervalued compared to other major cryptocurrencies. A possible Ripple victory could change this situation abruptly, which can be seen from the fact that the price has risen by 20% after Judge Torres' recent decision.

Also, according to technical analysis, XRP price is just one major bounce away from starting a massive 50% climb.


Interestingly, the ripple cryptocurrency is facing a combination of resistances right now, all of which meet around $0.57 (see below). A victory for the blockchain service provider could help break through this bulwark and surge to the top.



XRP-Kursdiagramm. Quelle: TradingView

A jump over this major hurdle could catapult XRP price to the next Fibonacci level at $0.72, which is more than 50% higher than the current price. Conversely, a failure at the resistances could sink XRP back to the recent support at $0.31, which is 35% below the prevailing rate.


“XRP is essentially a bet on the court decision right now,” notes independent analyst DonAlt . To which he adds:


“If the whole case is won, XRP could be pumped up hard, while losing would probably mean a 50% crash. In addition, an XRP defeat could also leave other cryptocurrencies vulnerable, so we should rather hope for victory.”

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