Amid the darkness, Ripple (XRP) is no exception. However, the altcoin has experienced explosive phases in the past bear market. Just at times when the rest of the market was in free fall. For what reasons? The company never stops growing, even in bear marketeven during his lawsuits with the SEC — the Securities and Exchange Commission, America’s stock market policeman.
A difficult cycle for Ripple XRP
The cryptocurrency Ripple (XRP), created by Brad Garlinghouse in 2012, has not had a particularly easy market cycle. In 2017, however, it was one of the big stars. Investors’ gains were by far the biggest on the market. Bullrun 2017 was a simpler time, no Shiba Inu (SHIB). Ripple (XRP) had crossed $3 on January 2, 2018, marking the apotheosis of the Bitcoin bubble, and also the start of the decade’s most violent correction.
Many investors are buying at current levels. From $0.16 to $0.32, Ripple (XRP) is on almost infallible support zones. This is the zone it occupied during the year 2017 before it took off in stages, $1, $2 and $3.34. The market remembers these targets, but also these strong support areas. That’s all it takes for us to find strong buying volumes as soon as we approach them.
But in 2021, the situation seems to have changed. Brad Garlinghouse and Ripple are at the heart of the first lawsuit between the SEC and a crypto company. A case that will undoubtedly set a precedent! All eyes in the sector are therefore riveted on the case, and Mr Garlinghouse has no room for error. The price of Ripple therefore followed its own bullrun, according to the announcements from the SEC and developments in the lawsuit.
Technical analysis of the situation in 2021 – 2022
Instead of going after its old ATH above $3, Ripple (XRP) “only” reached $1.99, leaving a sour taste in the market. wallet investors. That was on April 13, 2021. And while the rest of the market experienced a final bullish wave in early November, the ripple (XRP) was caught in a compression triangle, a chart pattern that led to a return to the support zone. .
But the graph above shows another interesting element. Volume can be seen increasing significantly as the price breaks below the $0.50 area, highlighted in green. Although the market seems to be losing interest in this corner, it is growers is always present. They wait. But what ?
In fact, Ripple (XRP) is one of the best projects in blockchain and crypto. The company is expanding widely throughout the world, especially in the Arabian Peninsula. The company forged partnerships even though it was in the middle of a lawsuit. Its service, the instant and economical money transfer, is now a real competitor to SWIFT. No crypto and blockchain company has achieved its goals so closely, and could not be able to truly replace a giant like SWIFT.
The only thing stopping ripple (XRP) from exploding and catching up with the backlog it had in 2021 is the lawsuit with the SEC. But this lawsuit seems to be coming to an end. Regardless of the outcome, the judges’ decision will have an extremely violent impact on cryptocurrency charts.
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