You are currently viewing FEATURED TOKEN: Ripple ($XRP)

FEATURED TOKEN: Ripple ($XRP)

Ripple Labs was sued in 2020 by the SEC, which claimed the company broke the law when it raised money by selling the digital token without registering it as a security. The case has been closely watched because of its implications for the SEC’s regulatory power over crypto.

Last year, US District Judge Analisa Torres found XRP was covered by securities law only when sold to institutional investors, a ruling hailed as a major victory for the industry. The SEC, led by Chair Gary Gensler, has several major cases against crypto exchanges and issuers, accusing them of offering unregistered securities.

“If Gensler and the SEC were rational, they would have moved on from this case long ago,” Ripple Chief Executive Officer Brad Garlinghouse said in a post on X.com. “It certainly hasn’t protected investors and instead has damaged the credibility and reputation of the SEC. Somehow, they still haven’t gotten the message: they lost on everything that matters. Ripple, the crypto industry, and the rule of law have already prevailed.”

Bloomberg Law

The SEC dropped its remaining claims against Garlinghouse and Larsen in October. The case had been highly watched, as it is among the biggest brought by the SEC in the cryptocurrency space.

Reuters

Last time we focused on the leading token and gold standard of cryptocurrency, Bitcoin. For most people, especially the risk averse investors and those who could care less about blockchain, all this is technological, irrelevant, gibberish. What the hell is Ripple and who cares about a ripple, wrinkle, or a ruffle? The only issue that is of any concern, is the tried and tested age old question: how much money can you make?

If you’re investing for the long haul, then according to a famous artist by the name of 21 Savage – the answer might just be, “A LOT.”

Without further ado, allow me to introduce you to, the $XRP chart.

As usual, $0.43, $0.70, $1.18, and $1.60 are the prices where we have strong support and resistance levels. Thanks to a combination of factors including the legal battles between the SEC and Ripple, and Bitcoin’s price action, $XRP suffered declines in price; failing to break beyond the $0.18 level and falling below $0.70 and even $0.43, creating a strong downward trend from April of 2021 to August of 2022.

By September of 2022, both the SEC and Ripple filed motions for summary judgment, indicating the intensity of the legal battle while simultaneously proving Ripple’s willingness to fight hard and to the end. This move raised the confidence of investors and on the chart, this is where you see the green bar break the downtrend (marked with the red line). Things took a huge turn in January of 2023 when Judge Analisa Torres got involved and although the momentum was initially slow, it was evident that things started turning around in Ripple’s favour. By July, Judge Torres ruled that Ripple was not a security in the context of programmatic sales, and it was at this moment that pointers to what was to come had been identified. For those investors who were closely monitoring the case, this was the necessary signal to start stacking because Ripple went from a price of $0.45 to $0.93 effectively 2X-ing your investment.

Notice the green trend line on the chart? Despite slow momentum, you could see bullish trends beginning to develop. At this point, the $0.43 price level is now operating as a major support level and we see what I like to call “range motion” occurring where the price repeatedly goes to the $0.70 mark and back to the $0.43 mark.

As with most long fought wars in history, by July of 2024, rumours of a private meeting between Ripple and the SEC sparked speculation about a potential resolution and by August, Judge Torres issued her final judgment on the case which saw the SEC drop its remaining claims and end the longstanding lawsuit against the fintech company. If the consequent price action on the chart (indicated by the 4th bar from the left of the current one) was not enough to alert you to what was on the horizon, then Garlinghouse’s meeting with President elect Donald Trump following his recent victory was sure to do the trick.

Allow me to introduce or (if you are new) reintroduce you to one of my favourite quotes:

“If you had put just $1,000 into $xyz, you would have…”

Truthfully, if you had bought $1,000 of $XRP in January of 2023 (@ $0.43), and sold at the next major resistance level of $0.70 and repeated this each time it revisited those prices while experiencing “range motion”, you would have at least $2,883 currently = +288% gains.

I’d like to remind you that $XRP is currently priced at ~$0.70, still bullish, and all indicators point to the fact that it will hit the $1.00 mark. I’ve been called insane and optimistic many times by people who have benefited greatly from my insanity and I’m back to tell you that my optimism suggests to me that $XRP will find itself somewhere between the $1.20 and $1.60 region sooner than we expect it to (indicated by the green star on the chart). The lower end of that range is $0.50 away from our current position and the higher end is $0.90 away; effectively providing you with another 2X potential.

So how much money can you make?

At least twice as much. The more important questions is, how much do you have?

$ee you next time!!

***DISCLAIMER***

Featured Token posts with trade analysis are based on a personal prediction model and not to be taken as financial advice. Readers are required to conduct their own research and consult with the relevant industry professionals.