Crypto Analyst Predicts Potential XRP Breakout Despite Ripple-SEC Tussle

25

Despite the ongoing legal wrangle between cryptocurrency giant Ripple and the United States Securities and Exchange Commission (SEC), the XRP coin is showing signs of resilience. The ongoing dispute has heavily suppressed the price of the altcoin, causing many investors to be hesitant. However, this bleak landscape has not discouraged everyone.

A keen observer in the field, the crypto analyst RLinda, has painted a more optimistic picture, noting potential trends that may foretell a much-anticipated breakout. She maintains a bullish position, suggesting that the altcoin could significantly break its suppressed momentum, based on her detailed analysis of its performance over the past year.

Follow us on Google News! ✔️


Despite gloomy circumstances, RLinda remains hopeful. She considers XRP’s failure to reach new all-time highs, even when other coins have done so, as an ongoing struggle rather than a defining blow. According to her, the altcoin’s lethargic movement can be largely attributed to the ongoing litigation with the SEC.

But her examination of the coin’s technical and fundamental indicators suggests a potential decoupling is underway. If this is the case, XRP could be on the brink of a substantial rallying point – the spark that could ignite the dynamite. Her technical analysis of the 1-Week chart reveals that XRP is steadily testing the ‘Wedge resistance,’ toil that could pay off if a breakout from the resistance occurs. Also, volatility is decreasing and a consolidation appears to be in progress, which could be a precursor to another rally.

On the horizon, she believes that the rally could lead the price to climb as high as $0.6265 or even further to $0.73 given a favorable trajectory. However, these lofty heights will require that XRP maintains a critical support level at $0.4637 and successfully breaks through resistances at $0.4962 and $0.5720.

However, the coin isn’t without its obstacles. The ongoing lawsuit casts a heavy shadow on what would otherwise be a promising picture. Ripple’s drawn-out legal battle, while involving several victories against the SEC, continues to dampen the spirit as the lawsuit is far from over.

Yet, RLinda posits these challenges as the main reason behind XRP’s underperformance. Adding to her assessment, Ripple CEO Brad Garlinghouse has expressed optimism that the legal fracas would be resolved by summer’s end. If his prediction proves true, it could serve as a pivotal turning point for the XRP price.

According to RLinda, The ripple effects of the Ripple vs. SEC case extend beyond the company and its asset, as its outcome could set a precedent for the regulation of cryptocurrency worldwide. Triumph against the SEC could be a crucial green light for the whole crypto community, especially given the recent criticism pointed at the SEC for overstepping its bounds.

If the bulls take their course and the court rules in Ripple’s favor, XRP might just have its moment in the sun, making it all the more tantalizing for the keen investor. And while the journey to this place is fraught with tension, the payoff, as RLinda has reflected, could be more than worth the wait.