2023-4-13 16:00 |
The ongoing legal tussle between Ripple XRP and the US Securities and Exchange Commission seems close to its summary judgment, and crypto influencer Ben Armstrong (BitBoy) believes that Ripple will become one of the best-performing assets once the case ends.
He expressed his optimistic views on Twitter, stating that the judgment will be the end of one chapter and the beginning of a new one.
BitBoy Bullish On XRPBen Armstrong (BitBoy) is bullish on XRP’s chances after the case. In his tweet, Armstrong declared that the Ripple Vs. SEC case will end any time soon.
He further implied that the new trend is for XRP investors to get rich from the asset. BitBoy believes that staying with XRP and the XRP Army is the best decision for investors to get their ‘rations.’ Notably, BitBoy analysis faced criticism for predicting that Ripple’s case would conclude in September 2021.
He also attested to his failed prediction, saying it was a one-off event. However, he believes the trial calendar will soon expire; therefore, a resolution is needed.
Attorney John Deaton shares similar views on the judgment timeline. Deaton, in an interview, stated that Judge Torres ruling timeline reveals that the summary judgment might occur before May 6, 2023.
He pointed out the fact that historically, Judge Torres’ summary judgments come up within two months. Deaton listed scenarios where the summary judgment followed within one-hour and one month for some cases.
Meanwhile, another crypto analyst, Ali, believes that XRP is on the verge of a 47% surge. However, he stated it could only happen if it secures a 3-day candlestick close above $0.54.
The analyst believes that a successful breakout could launch XRP to $0.80. Nevertheless, the impending judgment is critical in XRP price performance.
How Is XRP Looking Today?XRP is recovering today, forming a green candle on the daily chart. The brief retracement in the last two days served as a consolidation point for the asset. XRP is trading above its 50-day and 200-day Simple Moving Averages (SMA), a bullish sentiment for the short and long term.
Notably, the 50-day SMA crossed over the 200-day SMA to form a golden cross on April 4, reflecting the bullish pressure on the asset. The Relative Strength Index (RSI) is 59.36, indicating price neutrality. However, this indicator is moving upwards and reflecting the prevalent bullish uptrend.
Related Reading: Bitcoin And Inflation: What’s Next For BTC After CPI Rates Came In Lower Than Expected?
XRP is currently trading at $0.507 with a surge of about 0.51% on the chart and it will likely move into an uptrend in the coming days.
Featured image from Pixabay and chart from Tradingview
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