{"id":12005,"date":"2021-10-10T17:37:27","date_gmt":"2021-10-10T16:37:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=12005"},"modified":"2021-10-10T17:37:36","modified_gmt":"2021-10-10T16:37:36","slug":"xrp-price-aims-for-1-50-after-rising-by-30-in-10-days","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/xrp-price-aims-for-1-50-after-rising-by-30-in-10-days\/","title":{"rendered":"XRP price aims for $1.50 after rising by 30% in 10 days"},"content":{"rendered":"\n
After making a bullish crossover between its 20-day and 50-day exponential moving averages, XRP<\/a> has a strong probability of hitting $1.50 in the fourth quarter of 2021. (EMA).<\/h5>\n\n\n\n
\"XRP<\/figure>\n\n\n\n

In the history of XRP charts\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the so-called Golden Cross has occurred many times. The previous time that happened was on Aug. 10, when XRP reached a seasonally high of $1.43 before pulling down to the negative.<\/p>\n\n\n\n

On the same day, the 20-day EMA of XRP<\/a> closed over the 50-day EMA, triggering a 400% price increase. XRP hit a new year-to-date high of $1.98 as a result, indicating that the current Golden Cross may elicit a similar optimistic reaction from traders.<\/p>\n\n\n\n

The Rising Wedge pattern provides more evidence of an upward trend. The ascending channel pattern's upper and lower trendlines have recently served as resistance and support for XRP price<\/a> movements. <\/p>\n\n\n\n

As shown in the chart above, the cryptocurrency's ongoing upward movement coincided with a strong bounce from the Wedge's lower trendline.<\/p>\n\n\n\n

As a result, XRP appears to have a good chance of stretching its rebound towards the Wedge's upper trendline. For XRP, this roughly translates to a bullish target of $1.50.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

SEC vs. Ripple<\/h2>\n\n\n\n

The latest round of XRP market buying coincided with a recent SEC<\/a> vs. Ripple lawsuit update.<\/p>\n\n\n\n

For the uninitiated, the SEC filed a complaint against Ripple Labs and two of its executives in December 2020, alleging that they raised over $1.3 billion through an unregistered securities offering using XRP tokens.<\/p>\n\n\n\n

In response, Ripple Labs has been attempting to demonstrate that XRP is a utility token rather than a security asset, citing a speech by former SEC director William Hinman in which he stated that Ether, a blockchain token similar to XRP, is not a security asset.<\/p>\n\n\n\n

Hinman's opinions were personal, according to the current SEC regime. However, new evidence suggests that the US securities regulator may have been lying.<\/p>\n\n\n\n

Ripple's legal team recently filed court documents showing that the SEC<\/a> directed its employees to analyse digital currencies using Hinman's framework. It could be used to show that Hinman's speech was more than just a personal opinion, but rather an official directive.<\/p>\n\n\n\n

Ripple Labs won the case, and Judge Netburn added the proofs to their “in camera” review.<\/p>\n\n\n\n

#XRPCommunnity #SECGov v. #Ripple #XRP BREAKING: 1\/3 Judge Netburn Orders the SEC to submit for in camera review the two documents related to the SEC's meetings with law firms and the email chain concerning discussions with a third party who received guidance from the SEC pic.twitter.com\/zbjDi7HKYJ\u2014 James K. Filan (@FilanLaw) October 8, 2021<\/em><\/p><\/blockquote>\n\n\n\n

The decision was made on Oct. 8, and the price of XRP rose by 17 percent as a result.<\/p>\n\n\n\n

A bearish reversal pattern can also be found in the XRP's Rising Wedge. As a result, future gains in the cryptocurrency might be jeopardised if the price falls below the lower trendline.<\/p>\n\n\n\n

\"XRP<\/figure>\n\n\n\n

The XRP price may fall as low as the maximum distance between the Wedge's lower and upper trendlines if a bearish breakout occurs. The cryptocurrency's downside goal would therefore be $0.65.<\/p>\n\n\n\n

The author's thoughts and opinions are purely his or her own and do not necessarily reflect those of Cointelegraph.com. Every investing<\/a> and trading decision entails risk, so do your homework before making a decision.<\/p>\n","protected":false},"excerpt":{"rendered":"

After making a bullish crossover between its 20-day and 50-day exponential moving averages, XRP has a strong probability of hitting $1.50 in the fourth quarter of 2021. (EMA). In the history of XRP charts , the so-called Golden Cross has occurred many times. The previous time that happened was on Aug. 10, when XRP reached […]<\/p>\n","protected":false},"author":13,"featured_media":12007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[143,146],"class_list":["post-12005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-sec","tag-xrp"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/10\/image-36.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/12005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=12005"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/12005\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/12007"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=12005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=12005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=12005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}