According to industry watchers, cryptographic investors rejoiced after one of the longest legal battles in the industry, but the market seemed to have won several months ahead of the announcement.
On March 19, Ripple CEO Brad Garlinghouse said that the SEC will dismiss legal measures against Ripple.
However, according to Ditrij Radin, the founder of Zekret, the founder of Zekret, a blockchain infrastructure that focuses on the system, Ditrij Radin, the result may not be “strong” because the market may have already been priced after the Trump election.
Ripple’s CEO said that the SEC is falling in cases of blockchain developers. source: Brad Galling House
“Yes, they are withdrawn, but already have appeals.” He told Cointelegraph in the March 20 Chainuction X Show.
“One of the most talked about encryption and one of the oldest cases has won. It’s good for markets and residue because it can start expanding in the United States. But in general, the price has already been set.
XRP/USD, one month chart. Source: COINTELEGRAPH MARKETS approval
Despite the 11%relief rally since the announcement on March 19, the XRP (XRP) token cannot be higher than the key $ 2.5 psychological score. Cointelegraph Markets Pro Data has reduced tokens by more than 6.3% since March 19.
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Other analysts also believe that the lack of momentum of XRP tokens generally lack market feelings for investors who are expected to end the SEC lawsuit against Ripple Labs.
Nansen’s research analyst, Nicolai SONDERGAARD, added to Cointelegraph as follows:
“It was already honest at this point, and the macro environment and the general uncertainty do not favor XRP.”
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Nevertheless, some technical chart patterns point to 75% XRP rally after the SEC lawsuit.
XRP/USD weekly price chart. Source: TradingView
As of March 21, XRP has noticed the rise of the top trend line around the top of the $ 2.35 peak in April after testing a triangular low trend line. The ultimate goal of this possible brake out is $ 4.35 by June and 75% at the current price level.
On the contrary, the drop under the low trend line can invalidate optimistic settings to lead the XRP to $ 1.28. The weak goal is to get the maximum height of the triangle at $ 2.35 at the potential failure point.
Despite the price trajectory of the XRP, the SEC reverses the case, and the SEC, which overturns the case, will affect the market for a long time due to the change of story, and adds Fideum ‘S Radin for investors’ expectations for more password -friendly SECs.
https://www.youtube.com/watch?v=2Exstn1krcu
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