Crypto Hotshots 2022 🔥♨️

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram Tiktok
Voice of Crypto
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
Reading: SEC’s Advantage Over Ripple Slips Away: XRP Price Analysis
Share
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Blockchain
  • VOC Explained
Reading: SEC’s Advantage Over Ripple Slips Away: XRP Price Analysis
Share
  • bitcoinBitcoin(BTC)$27,836.00
  • ethereumEthereum(ETH)$1,909.23
  • tetherTether(USDT)$1.00
  • binancecoinBNB(BNB)$313.35
  • usd-coinUSD Coin(USDC)$1.00
  • rippleXRP(XRP)$0.498811
  • cardanoCardano(ADA)$0.378536
  • staked-etherLido Staked Ether(STETH)$1,908.85
  • dogecoinDogecoin(DOGE)$0.072738
  • solanaSolana(SOL)$21.15
  • Events
  • Videos
  • Podcast
Voice of CryptoVoice of Crypto
Aa
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Blockchain
  • VOC Explained
Search
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
Follow US
Copyright © 2023 Voice of Crypto. All Rights Reserved
Voice of Crypto > Analysis > SEC’s Advantage Over Ripple Slips Away: XRP Price Analysis
Analysis

SEC’s Advantage Over Ripple Slips Away: XRP Price Analysis

Dhirendra Chandra Das
Last updated: 2023/04/15 at 1:40 PM
Dhirendra Chandra Das  - Founder Published April 15, 2023 April 15, 2023
Share
XRP ripple price SEC

XRP has shown good fundamental and technical developments in the recent past. The case filed by SEC has met some hurdles and is slowly turning in favor of Ripple Labs. On the technical front, moving averages and trend lines show very lucrative opportunities for traders.

Contents
The Precedent Set by SEC vs. Commonwealth LLP CaseRipple’s ResponseEffect on XRP PriceXRP Price AnalysisTarget and Stop loss

The Precedent Set by SEC vs. Commonwealth LLP Case

Recently SEC has quoted an earlier case that might turn the tide of the SEC vs. Ripple Labs. The case in consideration was filed by SEC against Commonwealth Equity Services LLC, in which SEC got what it wanted, and the defendant was denied cross-motion for summary judgment. As per SEC’s opinion, this supports their stance against Ripple Labs.

The case of Commonwealth Equity Services LLC vs. SEC reached a conclusion.

A cross-motion is a motion filed against the opposite party in a court.

- Advertisement -

Ripple’s Response

Ripple Labs responded swiftly, and their lawyer Michael Kellog and the team submitted a letter to the judge. The letter stated that in the Commonwealth Equity Services LLC case, the defendants did not disclose additional information in the investment contract because their paid advisor did not see it necessary.

#XRPCommunity #SECGov v. #Ripple #XRP The Ripple Defendants have filed their Response to the SEC’s Letter of Supplemental Authority regarding the SEC’s Motion for Summary Judgment. pic.twitter.com/SPWnzxhKxx

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) April 13, 2023

- Advertisement -

However, in the case of Ripple Labs, there was no investment contract at all. They further added that SEC used vague guidance from the Howey Test.

Here is the expanded version of the letter.

Ripple Reply in SEC vs Ripple Case
Ripple’s Latest Reply in SEC vs. Ripple Case

Effect on XRP Price

XRP Price gained 5% as soon as Ripple’s response was made public by their lawyer Michael Kellog. The move almost broke the resistance at $0.54, which halted the prices.

XRP Price Analysis

XRP has shown a positive price action after the reply became public. It has cooled down a little after reaching $0.54 and is now at $0.52. There is a probability of $0.86 once two hurdles are crossed at $0.78 and $0.64. Let us analyze in detail with technical analysis.

- Advertisement -

Deviating from our earlier trend of only using RSI and MACD, we are now also using trend lines to identify support and resistance.

  • The daily charts show two resistances at $0.64(minor resistance) and $0.78 (major resistance).
  • Since MACD is negative at this point, we will buy only above today’s day high of $0.54 or when MACD is positive. The level of $0.54 is now a clear resistance.
  • Above $0.54, there are two resistances, as discussed above.
  • Since volumes are low, it is suggested that traders take low-amount trades. Low volumes cause a very steep fall in prices once markets turn bad.
  • However, since the 50-day EMA is higher than 200 days EMA, the market is still bullish for XRP.
XRP price chart
XRP 1D price chart

Target and Stop loss

Buy Above: $0.54

Target 1: $0.64

Target 2: $0.78

Target 3: $0.86

Stop loss: $0.46

 

Disclaimer: Voice Of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

You Might Also Like

Bitcoin Miners Face Trouble as BTC Price Plunges Further

Weekly Crypto Update: BTC, ETH, XRP, DOGE, MATIC

5 Top Cryptocurrencies To Watch this Week: MATIC, ARB, CAKE, INJ, RNDR

10 Top Cryptocurrency Exchanges in the USA

Litecoin (LTC): Price Prediction 2023-end

TAGGED: Altcoin, Crypto, XRP
Share This Article
Facebook Twitter Email Copy Link Print
By Dhirendra Chandra Das Founder
Follow:
I am Dhirendra. Finance and Technology are my favorite topics. When I am not dealing with Finance or Technology, I run a marketing agency, Das Marketing, that specializes in lead generation using Artificial Intelligence.
Previous Article Huobi Sale Crypto exchange No Takers for Huobi Sale: The Surprising Why
Next Article Shiba Inu SHIB Price Shiba Inu Burn Rate Surges: Will SHIB Price Follow?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Binance

Follow US

Find US on Socials
Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Subscribe to our Newsletter

Get Newest Articles Instantly!

Ledger
techcircus
Popular News
Web3 Shorthand
Web3 Shorthand: A Glossary for Crypto Newbies
Bitcoin price BTC VOC
Bitcoin Miners Face Trouble as BTC Price Plunges Further
Quick-Tips-To-Avoiding-A-Fake-Crypto-Wallet
Quick Tips To Avoiding A Fake Crypto Wallet

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram Tiktok
Voice of Crypto

Voice Of Crypto hits a beat with almost 15 million users, churning out the best news and content in the Web3, crypto and blockchain space

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Legal

  • Global Events
  • Advertise With Us
  • Privacy Policy

Know Us

  • About Us
  • VOC Team
  • VOC Vigilantes
  • Brands Who Trust Us
  • Contact Us
Copyright © 2023 Voice of Crypto. All Rights Reserved
Welcome Back!

Sign in to your account

Lost your password?