XRPUSD remains at the bottom of its range at its important 0.39 level that was the pull back after-bottom low before its rally to highs after and above its sec low in Jan 2021. Noted is the the upside overshoots on its down trendline of the triangle and the exhausted indicators at all time lows. We suspect the next upside overshoot is more likely to materialize into a real rally.
At the same time, the Bow of the SEC law suit is fully retracted with the pressure on the SEC as its keeps delaying the court to avoid presenting its internal emails and now, a shot has been fired towards the SECs expert witness. The suit is at a point where, its either ending in 2023 in court, or it could end any day as the pressure mounts against the sec to settle/drop to avoid setting precedent for future crypto enforcement unfavorable toward the sec. In any event, while all of crypto,( besides bitcoin ) is up for unknown future regulation and clarity, the lawsuit positions XRP to get clarity via the court system despite any future regulation . As future regulation rolls out, the foundations of other coins will need to sue the sec should they wish to contest their status. XRP is already close to the fishline in this process.
At the same time, the Bow of the SEC law suit is fully retracted with the pressure on the SEC as its keeps delaying the court to avoid presenting its internal emails and now, a shot has been fired towards the SECs expert witness. The suit is at a point where, its either ending in 2023 in court, or it could end any day as the pressure mounts against the sec to settle/drop to avoid setting precedent for future crypto enforcement unfavorable toward the sec. In any event, while all of crypto,( besides bitcoin ) is up for unknown future regulation and clarity, the lawsuit positions XRP to get clarity via the court system despite any future regulation . As future regulation rolls out, the foundations of other coins will need to sue the sec should they wish to contest their status. XRP is already close to the fishline in this process.