Our Ripple price prediction for this year massively depends on the outcome of the SEC investigation against Ripple. SEC accused Ripple Foundation of the illegal selling of securities followed by a lawsuit. According to the recent reports, the lawsuit appears to be at the final stages and might be concluding soon. However, there are several speculations about the judgment, and hence XRP price might witness huge volatility in the coming months.
Ripple has already partnered with more than 100 financial institutions into RippleNet for global payment settlements. It is important to note here that RippleNet may exist even without XRP. This is one of the biggest arguments of Ripple’s opponents against XRP crypto. Nevertheless, global banks can use XRP for faster transactions beyond borders. Still, the biggest factor affecting Ripple price prediction is the ongoing Ripple SEC case conclusion.
As per the latest Ripple News today, Ripple could settle with SEC as soon as May 2022. However, nothing is confirmed yet, and it is better to wait for an official announcement. Recently SEC has requested the court for some more time. Ripple foundation has responded to this request by a written objection. Nevertheless, the case’s developments indicate that Ripple crypto might have the upper hand.
The XRP price chart technical analysis shows that the price is forming a symmetrical triangle. Ripple’s crypto price hit $1.97 in April 2021; however, it was not even close to its 2018 ATH of $3.40. Currently, the price is trading at $0.84 and battling 200 EMA. Therefore, the cryptocurrency needs to flip the $0.90 level to aim for further upside.
The next major level to attain for the Ripple coin is the $1.10 region. Actually, this is a 1.618 Fib retracement level that connects September 2021 highs to January lows. A new ATH might be on the cards if the price regains this level soon. In such a bullish scenario, $3.66 seems to be a valid Ripple price prediction for 2022. This region also aligns with the 3.618 Fib level of the same retracement described earlier.
This post was last modified on %s = human-readable time difference 11:11