Investing.com – The approaching verdict in the SEC’s lawsuit against it has Michelle Nightengale, CEO of the Global Institute of Wellness Entrepreneurs, wondering what would happen if Ripple lost the lawsuit. This would mean that Judge Torres would agree with the SEC that XRP is an unregistered security.
Lawyer Jeremy Hogan, who is following the trial and given regularly his opinion on what is happening, answered this question.
According to Hogan, the target market for XRP would shrink in such a case by 25 percent, as this percentage corresponds to the share of the United States in global economic activity. The cryptocurrency should therefore react very sensitively to such a judgment.
Ripple CEO Brad Garlinghouse has previously said that his company will exit the US if the SEC complaint is successful.
Fox Business journalist Charles Gasparin goes even further. According to him, this would have disastrous consequences for the entire crypto industry in the United States. The SEC would be strengthened in its action against the sector, which could result in the next site to find itself in the dock being .
Ripple price technical benchmarks
Ripple is currently up 3.30 percent at a price of $0.3543, while the weekly gain stands at 1.99 percent.
On the 4-hour chart, the cryptocurrency has finally managed to sustainably surpass the 20-day MA of $0.3468 and is on course to test the resistance of the 50% Fibo retracement of $0.3558.
With a daily close above this level, the focus would be on the 61.8% Fibo retracement at $0.3654. Above this, the next resistance is the December 27 high at $0.3725, followed by the 78.6% Fibo retracement at $0.3791.
The 20-day moving average is now offering immediate support, bolstered by the 38.2% Fibo retracement at $0.3462. Beneath this is the 23.6% fibo retracement of $0.3343, which has already served well on December 19 and 30 as well as January 6.
By Marco Oehrl