XRP investors are hopeful that a potential court victory against the SEC could send the altcoin price at least 50% higher. XRP is hoping that the token could see a massive price rally in 2022 based off the fingers-crossed assumption that Ripple will win its long-running legal battle against the U.S. Securities and Exchange Commission (SEC).
On Sept. 29, the district court judge in the case, Judge Analisa Torres, ordered the commission to release the documents penned by William Hinman, the former director of the corporation finance division at the SEC. Hinman may have written about Ether (ETH), the native token of the Ethereum blockchain, not being a security in the concealed documents, believes Ripple. That is primarily because Hinman had proclaimed the same in his speech at the Yahoo Finance All Markets Summit in June 2018.
Ripple's defense could use Hinman's writing as evidence that its blockchain's native token, XRP, should not be treated as a security, which is the opposite of what the SEC claimed in the lawsuit filed in December 2020.
XRP has since been ousted from many regulated crypto exchanges, including Coinbase and Bitstamp. As a result, it is now among the only top cryptocurrencies that have neither reclaimed nor established a record high during the 2020–2021 crypto market boom, reflecting caution from investors. Some might argue, that from the vantage point of technical analysis, XRP price remains undervalued compared to other top-ranking cryptocurrencies. And a Ripple win might change that, given the token rallied 20% in a day after Judge Torres's order.
From a technical standpoint, XRP is one breakout away from posting a 50% price rally. Notably, the token now tests a resistance confluence of one multi-year descending trendline resistance, a flipped support bar and a Fibonacci line — all pivoting near $0.57. A Ripple win could help XRP break decisively above this confluence. Such a breakout could have XRP eye a run-up toward the next Fib line near $0.72, up over 50% from Oct. 's price. Conversely, a pullback could crash XRP to its previous support level of $0.31, down 35% from the current price levels.
"$XRP is basically a court case play," noted independent market analyst DonAlt, adding: "If they win the whole case $XRP giga pumps. if they lose it’ll be a nice -50% candle. Also, an $XRP loss would make other cryptos more vulnerable to attack, so you better cheer them on."
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||88.8%||17||$17 056.16||0.07%||1.02%||$327 926 342 780|
|2||ETH||Ethereum predictions||82.8%||28||$1 266.01||0.07%||-0.48%||$154 926 130 761|
|3||USDT||Tether predictions||94%||1||$1.000056||0%||0.04%||$65 688 871 034|
|4||BNB||Binance Coin predictions||79.2%||44||$289.61||-0.09%||-4.40%||$46 329 397 846|
|5||USDC||USD Coin predictions||92.8%||1||$0.999940||0%||-0.03%||$43 027 424 874|
|6||BUSD||Binance USD predictions||93.6%||1||$0.999840||-0.08%||-0.08%||$22 096 550 218|
|7||XRP||XRP predictions||79.6%||29||$0.390151||0.72%||-4.37%||$19 609 162 360|
|8||DOGE||Dogecoin predictions||62%||73||$0.100195||-2.10%||-6.70%||$13 292 999 012|
|9||ADA||Cardano predictions||84%||31||$0.317932||-0.70%||0.55%||$10 955 712 261|
|10||STETH||Lido stETH predictions||96%||1||$2 941.39||-0.40%||-3.32%||$10 258 752 564|
|11||MATIC||Polygon predictions||74%||51||$0.914223||-0.51%||5.69%||$7 985 110 335|
|12||DOT||Polkadot predictions||81.6%||37||$5.49||-0.29%||0.61%||$6 279 301 547|
|13||DAI||Dai predictions||92%||1||$0.999616||0.01%||-0.11%||$5 876 435 517|
|14||LTC||Litecoin predictions||56.8%||87||$79.73||-1.37%||0.52%||$5 722 443 949|
|15||WTRX||Wrapped TRON predictions||82%||30||$0.053484||0.50%||-0.80%||$5 438 067 310|
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