Lawyers expect Ripple vs. SEC case to end soon
XRP trades in a short-term ascending trendline
The cryptocurrency eyes a breakout
Are you wondering when the Ripple case with the SEC will end? Probably, too soon, according to Australian crypto enthusiast and lawyer Bill Morgan. The arguments by Morgan draw from the November 30 date for filing the summary judgement briefs. The other date touted as important for the case is December 02. This is the date when both sides will jointly meet to discuss the case redactions.
Drawing from his experience as a mediator, Morgan says that a case settlement after these two dates is possible. From December 02 date, Morgan expects the documents to be publicly made on December 05. That will set the case for settlement “any time.” The lawyer says that the settled agreement could arrive without anyone’s knowledge.
The Australian legal expert is optimistic the case will go in favour of Ripple. According to him, the possession of Hinman’s speech documents gives Ripple leverage. He says the SEC could be forced to settle to keep the documents secret and avert potential impacts on the crypto regulation.
Meanwhile, XRP is maintaining slow gains ahead of the important dates. The cryptocurrency had made intraday gains of 3.88% as of press time. Any slight cryptocurrency news could trigger a breakout at a key level.
XRP eyes a breakout at $0.4 as the price maintains gains
A technical outlook shows XRP is on a short-term bullish trendline. The cryptocurrency has maintained the trend for a while. A potential breakout beckons at $0.4 if bulls continue to pile ahead of the crucial dates of the case with the SEC.
The MACD indicator shows a bullish crossover with a slightly improved momentum. The indicator remains in the bearish zone.
When to buy XRP
A breakout above $0.4 would attract XRP buys. With the clear uptrend, a breakout is a possibility, although not yet confirmed. We recommend investors watch the key level alongside developments touching the case. A breakout will see XRP claim the next potential level at $0.45 and higher, above $0.5.
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The post Ripple vs. SEC case. Why lawyers predict settlement too soon amid choppy XRP price appeared first on CoinJournal.