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Ripple long-term investors bet on XRP, expect bias lawsuit against SEC to succeed

Ripple flows out of exchanges as Bitcoin and Ethereum inflow spikes
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  • After a non-profit government watchdog accused the Saudi Electricity Company of bias against Ripple, investors are expecting positive results.
  • Long-term investors expect a compromise with the Securities and Exchange Commission and a positive impact on the price of Ripple.
  • Ripple price has posted gains of more than 13% over the past week, and analysts expect XRP to continue its bullish trend.

Long-term investors expect Ripple to take a breather as a nonprofit watchdog makes allegations of bias against the SEC. Ripple’s success in the SEC lawsuit may lead to a spike in the altcoin.

Ripple challenges all odds and achieves 13% weekly gain

Ripple investors are positive about the altcoin’s victory in the Securities and Exchange Commission (SEC) case against the payments giant. The NGO Empower Oravinet has filed a lawsuit against the Securities and Exchange Commission, accusing the regulator of bias against Ripple.

Proponents expect the “enable oversight” to succeed and lead to a compromise in the SEC v. Ripple. The SEC’s conflict of interest in declaring XRP as security and taking no action against the largest altcoin Ethereum has called for public scrutiny.

Ripple price recorded a 13% gain over the past week, and analysts expect the altcoin’s upward trend to continue. Analysts are bullish on Ripple and a possible bullish catalyst from a positive outcome on the SEC v. Ripple.

Cryptocurrency analysts at YouTube channel CoinsKid recently assessed the price trend of Ripple. Analysts believe that Ripple reverses the double bottom pattern observed in the last two weeks of July 2021.

Ripple price broke the resistance at $0.83 and is currently trading at $0.89. The analyst predicted that the Ripple price could break higher if it stays on the right track with the ongoing trend.

FXStreet analysts predicted that the price of Ripple could face rejection and move lower.


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