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The Securities and Exchange Commission’s lawsuit against Ripple is drawing to a close. The latest development in the trial led to the removal of about 13 documents from the public. While experts shared their thoughts on the process on Twitter, veteran analyst Peter Brandt published the technical levels for the long-term XRP price.

Could the outcome of the SEC-Ripple lawsuit trigger a rally in XRP price?

The SEC made a move to protect the documents requested by Ripple from being publicly viewed. Upon this move, the XRP Army (XRP Army), proponents and supporters of XRP, uncovered one of the 13 entries counted as internal SEC documents in the case. A draft speech by former SEC Corporate Finance director William Hinman was attached as input to an email sent for review and comment by SEC officials. XRP advocate nicknamed @digitalassetbuy believes Hinman’s speech is made up of people’s ideas:

That’s where @JohnEDeaton1 Hinman talk came from. It looks like a collection of people’s personal opinions.

https://twitter. com/digitalassetbuy/status/1438638749550792715

Hinman’s speech, cited by

@digitalassetbuy, is considered critical to the outcome of the case as he declared in June 2018 that Ethereum (ETH) is not a security. At the time, Hinman claimed that he had warned Ripple about XRP and advised the company to stop its sales. Conversely, when asked for Hinman’s statement, current SEC Chairman Gary Gensler declined to comment.

With the ongoing investigation into the world’s second-largest cryptocurrency exchange Coinbase and the firm behind the sixth-largest cryptocurrency XRP, the XRP Army is asking why the SEC chooses winners and losers in the industry. The argument is based on Hinman’s 2018 speech and the SEC’s actions against Ripple since December 2020. Charles Gasparino of Fox Business Network shared the SEC’s response to “choosing winners and losers” on Sept. 15:

@SEC_Enforcement tells sources @FoxBusiness the rationale for the agency’s case @Ripple is that the company’s infrastructure is still being built, so XRP – the token used to finance the thing – is considered a security.

https://twitter. com/CGasparino/status/1438188130432176128

John Deaton: Ripple can be doomed and still win

Crypto Law. US founder, attorney and XRP advocate John Deaton believes Ripple will win based on its current defense:

Therefore, the note and evidence tweeted below by @digitalassetbuy helps the @Ripple Fair Disclosure Defense. It is an OBJECTIVE standard. Ripple can be malicious and still win. But take my word for it. Here’s Judge Netburn:

https://twitter. com/JohnEDeaton1/status/1438665781991120902

Institutional investor stays away from XRP

While the largest public holder of XRP is under investigation by the SEC, institutional investors have not made big moves in the altcoin since December 2020. However, it is worth noting that the number of active XRP wallet addresses has increased by over 200% in the last three months. Retail investors are embracing XRP despite its recent delisting on several spot exchanges, which according to experts is bullish for the XRP price in the long run.

Peter Brandt shared his long-term analysis of Ripple:

Cryptocoin. com

Legendary jripto trader and analyst Peter Brandt, whose analysis we share as , analyzed the XRP/USD pair and shared a potentially constructive long-term chart.

This is a potentially constructive long-term chart

https://twitter. com/PeterLBrandt/status/1438275144254906371

Additionally, Brandt thinks that the price chart of XRP price shows a head-and-shoulder pattern. Also, analisdollarser says that to avoid a 30% collapse, XRP must defend the $1.06 support.


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Michael Lewis

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