So far, positive things have happened for the Ripple team during the Ripple process and the US Stock Exchange Commission. However, analysts say just a few bullish news is not enough to continue the latest jumps in the price of XRP.
According to the Daily Hoodel, one of the analysts in the digital currency market, after issuing a key verdict in the case of the complaint of the US Stock Exchange Commission against Ripple, published his forecast for the future trend of this digital currency.
Judge Analisa Torres on Friday rejected a request by the US Securities and Exchange Commission to withdraw Ripple’s protection. Ripple’s lawyers said earlier that the government had not complied with the “fair information” law.
Honest information refers to a law according to which no one should be forced to guess the meaning of a law. The law must be clear enough so that everyone can properly understand what is allowed and what is forbidden. In this case, Ripple claims that it does not know exactly whether selling XRP tokens means offering securities.
A market analyst nicknamed Credible Crypto recently told its 362,000 followers on Twitter that although the news caused price spikes, Altcoin is still facing significant resistance in its chart.
This is great news for the Ripple case, but technically the current price is still well below the chart’s resistance. Therefore, FOMO should not be involved in these areas just because of fundamental positive news. Now it is better to wait and see the price increase.
Crypto Crypto expects Ripple to break the resistance level in the $ 0.83 range. The analyst also said that if bitcoin can rise above $ 42,500, there will be a real change in the movement of this large digital currency.
He is also looking to see if bitcoin could fall below $ 36,000 if bitcoin goes down.
Credible Crypto said:
This can still happen, as the price has recently failed to return to the level of 42,500 dollars. Nothing special will happen when we climb from $ 40,000 to $ 41,000 (red zone), but if the resistance level of $ 42,500 breaks, we will have a very upward trend. In addition, if we join another downward trend, we should expect a new floor to form about $ 36,000.
The publication Prominent Analyst: Ripple’s recent victory in court is not enough to jump prices first appeared in Digital Currency.