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October 4, 2022
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Guide & Analysis

XRP recovers everything by rising more than 340%. Was it the answer to the SEC?

The price fell by almost 80% but XRP recovers everything 1 month later.

Responding to a serious SEC filing, Ripple sees the price drop in late December with negative speculation about the lawsuit. Many were discredited in their recovery. But 1 month later, XRP recovers everything, rising more than 340% and returning to the same price point before the fall.

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Recently, Ripple officially responded to the SEC case saying that it cannot be classified as a securities security or investment contract. The company still brings Ethereum to the fore and questioning whether it was a title and suggesting an investigation.

Another point is the possibility that WallStreetBets (WSB) has targeted its strengths in XRP by taking a coordinated buying action to raise the price.

Anyway, let’s go to the graph!

After dropping nearly 80% at the end of December with news of the SEC filing, XRP shows an incredible recovery and recovers everything by going up more than 340%.

Graphically, the cryptocurrency breaks an important Downtrend Line (LTB) and drops the price to test the previous top again.

This top is an important point of resistance. Winning that zone, the only way left is to try to get your ATH for around $ 3.90. It is a long way, but not impossible for those who go up more than 340% in 1 month.

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