Cryptocurrency Ripple (XRP/USD) is trading at 1.1021. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Ripple. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bars.
Ripple (XRP/USD) forecast and analysis on October 13, 2021
As part of the Ripple course forecast, a test level of 1.0790 is expected. Where can we expect an attempt to continue the growth of XRP/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 1.2040. The conservative Ripple buying area is located near the lower border of the Bollinger Bands indicator bars at 1.0590.
Cancellation of the option to continue the growth of the Ripple rate will be a breakdown of the area of the lower border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair below the 1.0240 area. This will indicate a change in the current trend in favor of the bearish for XRP/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of the cryptocurrency.
Ripple (XRP/USD) forecast and analysis on October 13, 2021 implies a test level of 1.0790. Further, growth is expected to continue to the area above the level of 1.2040. The conservative area for buying is located area of 1.0590. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 1.0240. In this case, we should expect a continuation of the fall.
RIPPLE’S ALDEROTY QUESTIONS SEC EXTENSION REQUEST, MR. HOGAN SAYS JUDGE WILL “SPLIT THE BABY”
As the lawsuit is again at risk of extending deadlines potentially for summary judgment, Mr. Hogan was clear that the SEC v Ripple has an end in sight.
The SEC has requested the court to extend the expert rebuttal report deadline to November 12, 2021, and the expert discovery deadline from November 12, 2021, to January 14, 2022.
The agency says the parties need sufficient time to prepare rebuttal reports and depose a minimum of 14 expert witnesses.
The plaintiff added that Ripple consents to an extension of the rebuttal report deadline until November 12, but opposes the January 14 deposition deadline.
Ripple’s General Counsel Stuart Alderoty commented on the SEC request as something quite unusual. “Every litigator will tell you it’s always the defendant – never the plaintiff – asking to delay proceedings. Why would any plaintiff, let alone one with unlimited resources, play the delay card?”
JUDGE TORRES SAID “COURT IS NOT INCLINED TO PERMIT FURTHER DELAY”
According to the SEC, Ripple intends to file its opposition to this letter motion on October 18, 2021. The SEC offered a compromise that expert discovery be completed by December 22, but Ripple also rejected that offer.
It seems that the blockchain firm believes that such an extension would disrupt the briefing schedule for summary judgment motion(s), which would likely affect the end of the lawsuit.
The XRP community has quickly responded to the SEC’s request and Twitter user @XRPMoonOrBust pointed to Judge Analisa Torres’ order denying the XRP Holders’ motion to intervene (while granting the Amicus Curiae status).
The ruling was on the grounds that “discovery in this action has already been extended… and the Court is not inclined to permit further delay by granting intervention and prolonging discovery…”
HOGAN EXPECTS ONE MORE MONTH AND LAWSUIT TO END IN SUMMER AT THE LATEST
Jeremy Hogan, an XRP-friendly lawyer, has commented on the request as well: “What’s clear from this motion to extend discovery out 2 more months is that the SEC filed this $1.4 Billion dollar lawsuit without setting aside the resources to prosecute it. If the judge grants it, the main parts of the case won’t be decided until March-May of ’22!”
“My instinct, without having read Ripple’s reply, is that the judge splits the baby and provides an additional month to expert discovery. Judges never want an appellate court to hear lack of “due process” arguments on a case”, he continued.
As the lawsuit is again at risk of extending deadlines potentially for summary judgment, Mr. Hogan was clear that the SEC v. Ripple is likely to end in the first half of 2022, summer at the latest.
“The case will be over by summer at the latest. An appeal could take 9-12 months to be decided but while the appeal is going on, the trial judge’s ruling is “the law”.”
GRANTING MOTIONS TO COMPEL REQUIRE ADDITIONAL TIME
The SEC wants the extension because expert discovery has commenced with an incomplete factual record, and the case is even less ready for summary judgment motions.
“First, on September 1, 2021, Magistrate Judge Netburn granted the SEC’s motion to compel Ripple to produce certain instant messages among its employees, but Ripple has not completed its production of responsive documents and has not provided any timetable by which it will be complete.
“Second, the parties have four discovery motions currently pending before Magistrate Judge Netburn: (i) Defendants’ motion to pierce the SEC’s deliberative process privilege and other privileges as to many of the SEC’s internal communications and communications with other law enforcement agencies (which will not be fully
briefed until October 22, 2021); (ii) the SEC’s motion for a protective order relieving it from answering over 29,000 requests for admission that Defendants served on the SEC in the last six hours of fact discovery; (iii) Ripple’s and Larsen’s motion to compel further responses to certain interrogatories; and (iv) the SEC’s motion to compel Ripple to conduct a reasonable search for and produce certain video recordings of internal staff meetings involving Individual Defendants and key executives.
The plaintiff added that if Magistrate Judge Netburn grants any of the pending motions to compel, at minimum, the parties would need additional time to review and produce the documents at issue.
Ripple Forecast and XRP/USD Analysis October 19, 2021
XRP/USD are trading at 1.1161 and continue to move as part of the correction and the formation of the ”Triangle” pattern. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $52,492,759,857. Moving averages indicate a short-term bullish trend for Ripple. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the rise in the XRP rate in the market already from current levels. At the moment, we should expect an attempt to develop a decline in the asset and a test of the support level near the 1.0905 area. Further, an upward rebound and a continuation of the rise of the cryptocurrency to the area above the level of 1.3355.
Ripple Forecast and XRP/USD Analysis October 19, 2021
In favor of raising the XRP/USD quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal in favor of the growth of asset quotes will be a rebound from the lower border of the bullish channel. Cancellation of the option of raising the cryptocurrency will be the fall and closing of quotations below the level of 1.0205. This will indicate a breakdown of the support area and a continued fall in XRP/USD to the area below the level of 0.8505. Confirmation of the growth of the digital currency rate will be the breakdown of the resistance area and the closing of prices above the level of 1.2055, which will indicate a breakdown of the upper border of the ”Triangle” model.
Ripple Forecast and XRP/USD Analysis October 19, 2021 implies an attempt to test the support level near the 1.0905 area. Where can we expect the cryptocurrency to continue to rise with a potential target at the level of 1.3355. An additional signal in favor of the growth of Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to raise quotes will be a fall and a breakdown of the 1.0205 area. In this case, we should expect a continuation of the decline in the rise in digital currency with a target below 0.8505.
XRP Gearing Up for Major Rally As Two Low-Cap Altcoins Carve Out Bottom, Predicts Top Crypto Analyst
A closely followed crypto strategist and trader says XRP is gearing up for a possible 50% surge as two low-cap altcoins carve out their bottoms.
Pseudonymous crypto analyst Credible tells his 249,100 followers that while XRP briefly traded below his support area of $0.90, it managed to recover a key price level and is now poised to rally to a new higher high.
“And here’s one for my ZERPS! We deviated below the range rather than pushing up but now we have reclaimed it, so I am once again targeting the highs at $1.35 and beyond! XRP.”
Credible is referencing a tweet that he posted in September where he plotted XRP’s path from a low of $0.90 to as high as $1.70.
“Swept the highs then swept the lows into daily demand. Number go up now please. XRP.”
Should XRP follow Credible’s script, the altcoin offers a potential upside of over 55% from its current value of $1.09.
As for the crypto analyst’s long-term price target for the sixth-largest crypto, he believes XRP will skyrocket to between $20-$30 this bull cycle.
The widely followed analyst is also looking at Hedera Hashgraph (HBAR), a public network for peer-to-peer payments. According to Credible, he believes HBAR will carve out a bottom at $0.35.
“HBAR with a very important key reclaim here on the low timeframe. I think our bottom is likely in.”
Another coin on the trader’s radar is Convex Finance (CVX), the native token of decentralized finance (DeFi) protocol Convex. Credible predicts that CVX will create a new base of buyers around $12 before launching a rally to about $16.