Working legal trouble Ripple seems closer to its summary judgment between XRP and the US Securities and Exchange Commission, and crypto influencer Ben Armstrong (BitBoy) believes that Ripple could become one of the best performing assets once the case is over. Will go
he expressed his optimistic thoughts on twitterStating that the decision would be the end of one chapter and the beginning of a new one.
BitBoy Bullish on XRP
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Ben Armstrong (Bitboy) is bullish on the prospects of XRP after the case. in his do, Armstrong announced that Ripple Vs. The SEC case will be over any time soon.
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He further added that the new trend is for XRP investors to get rich with the asset. BitBoy believes that the best decision is for investors to stick with XRP and XRP Legion to get their ‘ration’. In particular, BitBoy analysis has faced criticism for predicting that the Ripple case will end in September 2021.
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He also justified his failed prediction by saying that it was a one-off event. However, he believes that the testing calendar will end soon; Therefore, a resolution is needed.
Attorney John Deaton have similar views on decision timeline, Deaton said in an interview that Judge Torres’s timeline for the ruling suggests that summary judgment could happen before May 6, 2023.
He pointed to the fact that historically, summary judgments from Judge Torres come out within two months., Deaton listed scenarios where summary judgment followed within an hour and a month for some cases.
Meanwhile, another crypto The analyst, Ali, believes that XRP is on the verge of a 47% bounce. However, he added that this can only happen if it closes a 3-day candle above $0.54.
The analyst believes that a successful breakout could launch XRP to $0.80. Nevertheless, the impending decision is crucial in XRP price performance.
How is XRP looking today?
XRP is recovering today, forming a green candle on the daily chart. The brief retracement over the last two days acted as a consolidation point for property. XRP trading above its 50-day and 200-day Simple Moving Average (SMA)Bullish sentiment for the short and long term.
Notably, the 50-day SMA crossed the 200-day SMA to form a golden cross on April 4, indicating bullish pressure on the asset. Relative Strength Index (RSI) 59.36, indicating price neutrality. However, this indicator is trending up and shows the prevailing bullish trend.
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XRP is currently trading at $0.507 with an increase of about 0.51% on the charts and it is likely to move higher in the coming days.
Featured image from Pixabay and Chart from Tradingview