Ripple (XRP) has been advancing since September 16, rising from a low of $0.32 to a high of $0.55. The current price of Ripple (XRP) stands at $0.468, which is still more than 40% off from its 2022 highs that were registered in January.
But where is the price of Ripple (XRP) going next, and what can we expect from the fourth quarter of the 2022 year.
Today, Crypto Lists will discuss XRP price estimates from a technical and fundamental analysis perspective during Q4, 2022. Please note that there are also many other factors to consider when entering a position, such as your time horizon, stop loss and take profit levels and how much margin you have if trading with leverage.
Ripple’s possible victory over the SEC might impact the whole crypto industry
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The price of Ripple (XRP) has been advancing last several days even though Bitcoin and most of the major cryptocurrencies remain under pressure due to hawkish signals from central banks and uncertainty because of the Ukraine crisis. One of the reasons behind such a spike in value is increased trader optimism, with positive developments in the ongoing Ripple lawsuit and the CFTC commissioner visiting Ripple Labs asking questions about the RippleNet contributing to it. Another reason is high whale movement in the last several days, and according to WhaleAlert, Ripple shifted 30 million XRP on September 21, while 261 million XRP coins were moved by whales between wallets on various top exchanges on September 20.
In a 2020 suit, the SEC accused Ripple and its top executives of selling unregistered securities. Ripple’s customers use XRP to facilitate cross-border payments over Ripple’s platform, but the disagreement centers on whether XRP is an investment contract, a particular class of security that is regulated by the SEC. Ripple has a thesis that it has never entered into a contract for an investment with an XRP buyer, while the SEC contends that Ripple’s sales of XRP should have been registered with the SEC.
Ripple CEO Brad Garlinghouse remains positive about this case and predicts that the case will not go to trial because he thinks the judge has enough evidence to decide without a jury. Ripple CEO Brad Garlinghouse said:
“Both the SEC and Ripple submitted motions for summary judgment over the past weekend, requesting that District Judge Analisa Torres rule based on the facts provided in their respective filings. Torres must now decide whether to rule in favor of one of the parties or send the case to a jury trial. I believe that the case’s facts are undisputed; hence, the latter might not happen. ”
Supply: 47,739,998,208 / 99,999,997,952
Release date: August 8, 2013
Description: What do you know about Ripple and their lawsuit with SEC? See the XRP price and latest news from Crypto Lists coin reviews!
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David Gokhshtein, a former U.S. congressional candidate, said that Ripple’s possible victory over the SEC might impact the whole crypto industry. David Gokhshtein said that in the case where Ripple scores a win, it would inspire the whole cryptocurrency market to skyrocket. The decision on the SEC’s objection is currently pending, and District Judge Analisa Torres will decide simultaneously on expert motions and summary judgment on or before March 31, 2023.
Technical analysis for Ripple
Ripple (XRP) has been advancing since September 16, rising from a low of $0.32 to a high of $0.55. The current price of Ripple (XRP) stands at $0.46, but a break below the $0.40 support would indicate that XRP could probably test the price level at $0.35. On the other side, if the price of XRP advances above $0.60, the next target could be located around $0.70 or even $0.80.
On the chart below, I marked the trendline, and as long the price of Ripple is below this trendline, we can’t talk about a trend reversal, and the price of XRP still remains in the SELL-ZONE.
Main support & resistance levels for Ripple
On this chart (the period from December 2021), I marked the main support and resistance levels that can help traders to understand where the price could move. Ripple has been advancing last several days, and if the price advances above resistance at $0.60, the next target could be located around $0.70 or even $0.80. The current support level is $0.40, and if the price breaks this level, it would be a “SELL” signal, and we have the open way to $0.35. If the price drops below $0.30, which represents very strong support, the next target could be located around $0.25.
What speaks for the rise in the Ripple price
Many surveys show that institutional investors remain bearish on cryptocurrencies, but the price of Ripple (XRP) has been advancing last several days. One of the reasons behind such a spike in value is increased trader optimism, with positive developments in the ongoing Ripple lawsuit. David Gokhshtein, a former U.S. congressional candidate, said that Ripple’s possible victory over the SEC might impact the whole crypto industry.
What indicates further downfall for Ripple
Ripple (XRP) has advanced above the $0.55 level this Friday; still, traders should keep in mind that the price can easily return to the levels reached at the beginning of September. If the price drops below $0.40, which represents the current support level, the next target could be located around $0.35 or even below. The upside potential for the cryptocurrency market and all riskier assets remain limited, especially after comments from FED that rate cuts are not foreseen until 2024. Fed Chair Jerome Powell said that U.S. central bank officials are strongly resolved to bring down inflation from the highest levels in four decades and will keep at it until the job is done.
What analysts and experts say
The price of Ripple (XRP) has been advancing last several days despite the fact that Bitcoin and most of the major cryptocurrencies remain under pressure due to hawkish signals from central banks and uncertainty because of the Ukraine crisis. One of the reasons behind this rise in value is increased trader optimism, with positive developments in the ongoing Ripple lawsuit. Ripple CEO Brad Garlinghouse remains positive about this case and predicts that the case will not go to trial because he thinks the judge has enough evidence to decide without a jury. David Gokhshtein, a former U.S. congressional candidate, said that Ripple’s possible victory over the SEC might impact the whole crypto industry to skyrocket.
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