The dollar (soon) found? At the beginning of 2022, Ripple (XRP) wins an important battle in the dispute between it and the American SEC. Although the curtain on this case, which has been going on for more than a year, has still not fallen, the company has reason to rejoice in view of the winds which would suddenly seem to be more favorable to it from a legal point of view. In any case, the markets showed tangible satisfaction.
Ripple vs SEC: a decisive turning point with an Ethereum in support of the defense
In her February 3, 2022 decision, Judge Analisa Torres indicates that emails containing discussions of former senior SEC official William Hinman’s June 2018 speech on Ethereum (ETH) cannot be considered as privileged documents.
This status would have allowed the Commission not to disclose this important document. William Hinman told the Yahoo Finance Crypto Summit audience at the time, that ether wasn’t a security because it was decentralized enough.
Ripple will most likely use this information, in addition to that contained in other important documents that Judge Analisa Torres has decided to open to the company, to refute SEC claims that XRP is a security.
This slap in the face of the SEC apparently pleased the markets, with the price of XRP jumping nearly 30% shortly after the release of these rulings. Is Ripple about to cross the symbolic $1 mark again?
>> Exceptional! Up to 100€ offered on registration to get started in crypto (affiliate link) <<
1 XRP to $1: The Decision Comes Down to the 50-Week Exponential Moving Average?
Yashu Gola shared in his article published on Cointelegraph, his analyzes of the price of XRP. On February 13, 2022, the XRP/USD pair goes up to $0.916. The price of XRP is then above the 50-week exponential moving averagean essential bullish support.
This impulse in the price of XRP hinted at the possibility of a continuation of the bullish momentum. XRP is trading around $0.80 at the time of writing, February 14, 2022. This price is slightly below this 50-week moving average.
The transformation of this average into support is crucial for XRP if we refer to historical data. The cryptocurrency had indeed regained this important level during the week ending July 27, 2020, after a flip of this average into resistance more than a year earlier.
This reconquest was followed later an 820% rise for XRPthen hitting an over-three-year high of $1.98 in April 2021.
XRP has so far failed to secure this 50-week exponential moving average in support. If it fails to take this decisive step, a fall in its price to the exponential moving average of 200 weeks is not to be ruled out.
Ripple is gaining momentum in view of this rise – maybe temporary – of the price of XRP following the decisions of Judge Analisa Torres which could – again in the conditional – allow him to win his lawsuit against the SEC. Ripple had also demonstrated in January 2022 its financial health by buying back shares for an amount of 200 million dollars previously sold to investors.
Seduced by this comeback from Ripple? Come and stock up on XRP on the Swissborg platform. To help you, an exceptional offer awaits you: up to €100 in cryptocurrencies offered when you register on the Swissborg platform (affiliate link, for a minimum deposit of €50)