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xrp ripple sec suvivor flower-887443_1920

XRP Targets New All-Time Highs After Surviving SEC Slaughter

Tony "The Bull" by Tony "The Bull"
2 years ago
in XRP
Reading Time: 3 mins read

XRP is now trading at $1 or more, even despite the parent company Ripple still being locked in a legal battle with the United States Securities and Exchange Commission.

Not only does the recent pump prove the power of borderless cryptocurrencies, but it takes the token to a key technical level that if broken, should target a new all-time high well above the former peak at more than $3 each.

XRP Pumps Beyond $1, But Could Climb To New All-Time Highs

Investors in the United States are likely livid right now with the Securities and Exchange Commission’s decision to pursue legal action against XRP parent company Ripple and its executives.

The SEC deemed the token an unregistered security, and exchanges in the country were forced to delist XRP immediately. An expected selloff resulted from a large share of investors stuck cashing out their bags – otherwise strong hands forced by the government that is supposed to be protecting them.

Related Reading | Charted: Ripple Skyrockets, Why Break Above $1 Seems Likely

Regardless of the legal implications for Ripple, the borderless design of cryptocurrency technology and lack of alignment with any single country, has allowed XRP to live on – now thriving as it makes a sharp recovery to more than $1 per XRP.

Ripple Rocket Is Ready For Liftoff, With Or Without An SEC Decision

The last time that XRP rocketed to $1, it didn’t stop there. The coin kept pumping to a high of more than $3.50 per token at the height of altcoin season in early 2018.

There are now infamous guides posted by major media outlets educating users on how to buy the top, and investors have been waiting ever since for a recovery.

Related Reading | XRP Leads Top Ten, Is The SEC Lawsuit Against Ripple Dead?

The recovery could be here now that the coin is back at $1. After the initial selloff, the Stochastic indicator on monthly timeframes has turned sharply up, and the Bollinger Bands have fallen literally off the chart with volatility. The expansion comes after a lengthy and exceptionally tight “squeeze” of the bands, which should result in an even more powerful move to the upside.

xrp ripple bollinger bands stochastic

Based on the measure rule and bullish technical, Ripple could rip to $7 | Source: XRPUSD on TradingView.com

In the past, XRP has beaten all expectations. A modest target based on the measure rule alone, could project the coin to explode to nearly $7 apiece in the somewhat near term.

If for some reason US investors are allowed to buy XRP again, runaway FOMO could push prices far beyond that for a more dramatic peak that the altcoin is historically known for. Even if it doesn’t, the SEC has done serious damage to US investors by forcing them to miss out on what could be life-changing wealth.

Featured image from Pixabay, Charts from TradingView.com
Tags: RipplesecxrpXRPBTCXRPUSDxrpusdt
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Tony "The Bull"

Tony "The Bull"

Tony is the “always-on” Editorial Director and Head of Research at NewsBTC, leading a talented team of writers and editors across several different global time zones. Tony is also the founder of CoinChartist.io – an educational website focused on crypto trading. Partners include Elliott Wave International, TradingView, and more. Tony’s background includes an extensive, award-winning media production career and over fifteen years of publishing operations and management. In the past, Tony has founded several media websites and his content has been read billions of times. Past clients include the BBC, Fidelity, and many others. Tony "The Bull" is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. He owns a python named Satoshi. Tony longs for the day when money is separated from the state. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios. Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check out his free TonyTradesBTC Telegram channel. Follow @TonyTheBullBTC on Twitter. You can also follow @CoinChartist_io on Twitter and subscribe on YouTube.

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