xrp cryptocurrency price

XRP aims for a 15% rally as former SEC Chair defends it

Ripple flows out of exchanges as Bitcoin and Ethereum inflow spikes
Written by publisher team

  • Mary Jo White, former chair of the Securities and Exchange Commission, recently defended XRP.
  • It looks like XRP is on the cusp of a huge 15% rally.
  • White believes the Securities and Exchange Commission made a mistake in suing Ripple.

Ripple appears to be gathering more support for its cause after former SEC chair Mary Jo White defended the digital asset and platform. White went so far as to describe the lawsuit as a fatal mistake. According to her, the Securities and Exchange Commission is “absolutely wrong, both legally and factually.”

However, it is important to note that White is currently working as an attorney for Ripple. However, other top US lawyers such as Matt Stankovic also noted that Ripple has enough money and resources to bring the case to a close, which means that it will not be easy for the SEC to win.

Ripple price is about to jump to $0.64

On the 4-hour chart, the digital asset witnessed a breakout of the symmetrical triangle pattern with a price target of $0.64. Although XRP had an early breakout touching $0.58, it quickly fell towards $0.54 before recovering.

4 hour chart XRP / USD

Ripple price is now aiming for a 16% move towards $0.64, calculated using the pattern’s maximum high as a reference point. It is important to note that the resistance ahead of us is relatively weak. The 50-SMA at $0.56 acts as a strong resistance, so a clear break above this point will confirm the bullish outlook.

xrp سعر price

4 hour chart XRP / USD

On the other hand, if the bulls lose the previous resistance trendline, we can see Ripple price drop towards the lower trendline support at $0.527. XRP could drop towards $0.44 in the long term.

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