Trading expert shared his stance on the current positive situation of Ripple vs SEC case and warned people to get into it.
Ripple is a San Francisco-based Fintech firm and the present situation is well for Ripple’ native token XRP. Ripple is currently fighting against the US securities and exchange commission (SEC). The SEC agency filed a case against Ripple XRP in December 2020. Due to this case, the majority of the institutional traders are trying to avoid investing in XRP tokens.
On 12 March, XRP showed a sudden hike in its price graph because of the positive news in favour of Ripple in the ongoing lawsuit.
The sudden huge inflow of funds in the XRP market created a bullish pattern for XRP to show a sudden increment in its price and also holded its pump to some better extent, which can be seen in the price graph attached above.
On these things, Analyst Credible Crypto suggested to his Twitter followers to remain aware of this situation with XRP because here XRP is showing a bullish pattern in terms of technical point of view but here we need to keep an eye on the resistance level also.
“This news is GREAT for the case but from a technical perspective we are still under local resistance at the moment.”
In this way, analysts suggested xrp traders wait for a better discount and to remain away from greed because of this positive situation, which is trying to create fear of missing opportunity (FOMO).
On the price of Bitcoin, analyst noted that we have to wait for a minimum of $36,000 in the present situation. And also noted that it will not be easy to see Bitcoin above $42k.
Ripple (XRP) Price
The current situation seems much more positive for Ripple in the ongoing lawsuit. Read about the present situation in this case of Ripple vs SEC here.
The current price of XRP is $0.786 and this price is 0.25% high over the last 24 hours.
Through the chart, we can see that real local resistance-based fundamentals worked at their best over the current positive news. But surely here it is just an opportunity for those traders, who can understand this situation from every point of view.
Read also: Policies change by CryptoCom may be a part of current geopolitical situation