- Ripple ends the year with a lucrative note by going east regardless of the “unending” legal battle with the United States Securities and Exchange Commission.
- XRP prices saw bullishness during 2021’s first half, while the second one saw momentum vanishing.
- Though the sluggish price movement, XRP has a brighter future in the coming year.
The crypto space flourished this year after grueling in 2020. Most digital assets, including Bitcoin, rose to their all-time highs. Moreover, the crypto spectrum saw increased adoptions, projects in Metaverse, NFTs, and DeFi registering impressive performance. 2021 had institutional firms joining the burgeoning industry of crypto.
Ripple endured its lawsuit burden since last year. However, it also recorded remarkable price moves. Though XRP surged during the 2021 first half, the second half had Ripple volatility drying up as momentum dwindled. Still, XRP has what it takes to flourish in 2022.
XRP and Its Strenuous 2021 Journey
Ripple vs. SEC
The US SEC sued Ripple Labs in 2020 December for purportedly selling securities in the nation. The lawsuit shocked the Ripple community and XRP holders. Meanwhile, Sources reveal the ongoing legal battle will end next year.
XRP Attracts Short-term and Long-term Investors
According to the weekly chart, XRP prints a cup-handle pattern. This formation indicates that Ripple might witness a colossal bullish run, gaining 1,625% to $34. Another optimistic target from the cup-handle formation predicts a 94.2% upswing towards $3.82.
Though this bullish target may seem challenging to attain, market participants require open minds. If Ripple beats SEC, the altcoin will sail past the obstacle at $3.31 to record massive ATHs. Though the recent dip in volatility, DAA on the Ripple ledger supports the bullish narrative. For now, this metric stands in the 3-digit zine, indicating continuous growth by the Ripple network.
With the increasingly bullish sentiment in the crypto market, XRP may surge past the previous ATH in 2022. However, the SEC vs. Ripple case will largely determine Ripple’s price moves. If the blockchain wins, XRP price will overpower multiple hurdles, recording new all-time highs.
However, SEC winning will see Ripple losing ground in the United States. The news might see Ripple weakening before realizing fundamentals.