The ongoing tussle between Ripple and the SEC is undergoing many twists and turns as the latest hearing lags pretty much clarity. The deposition of the Ex-SEC executive William Hinman is still misty and the people around have got their wires crossed. As two Attorney’s have their own opinions and this may have compelled the XRP price to trend within a small brace.
Considering the price movements in the past week, the price broke the descending channel with consecutive green candles. And no sooner it entered an ascending channel and after trending within the lower levels for some time, the price quickly jumped above. Interestingly, the price currently is swinging in the middle of the channel and attempting hard to rise above the levels.
Considering the previous patterns and price movements, the XRP price could experience yet another slight pullback. A massive recovery could also be underway that could carry the price to the next resistance zones. Despite a massive jump, yet the price could drop to the current resistance levels around $0.77 before a substantial jump to $1.
However, some extreme bullish predictions so prevail in the crypto space which hints at a double-digit figure. A popular analyst predicts the price could hit as high as $16 somewhere by April 2022. Moreover further it could plunge drastically around $1.5 by the end of July 2022. Interestingly, the analyst predicts a jump from the end of March from $1.6 to more than $15 within a month. Therefore can this giant surge is relatable to the ongoing Ripple vs SEC case which may conclude during this period?
Hence relisting of the token could fuel the price surge, but the possibilities of the sudden drop looks unclear now. However, with the advancements in the Ripple vs SEC case, the XRP price could find some substantial support.