Ripple Price Prediction: Bulls Attempt Fightback In The Shorter Time Frame
Daily Ripple XRP Technical Analysis
- Ripple price broke below the 20-day SMA.
- The Bollinger band in the 4-hour chart shows that XRP price volatility is on the rise.
During March 1 to March 9, the Ripple price had picked up from $0.416 to $0.47. Following that, XRP had repeatedly tried to break past the $0.50 level before the bears ultimately took back control. However, the 4-hour XRP chart shows that the buyers are trying to stage a fightback.
Ripple Price Breaks Below Key Level
Over the last two days, the Ripple price has broken down from $0.486 to $0.455. During this break, XRP was successful in flipping the 20-day SMA from support to resistance. The relative strength index (RSI) is trending in the neutral zone, which shows that the bears are in prime position to drop the price even more.
Image: XRP/USD daily
Looking at the 4-hour Ripple price chart, the Bollinger band has started to expand, which tells us that the price volatility is on the rise. However, as we can see, the buyers have taken control after 9 consecutive bearish sessions, and have nullified the bearish effects of the last 16 hours.
Image: XRP/USD 4-hour
Ripple and YouTube Settle Lawsuit
Ripple and its CEO Brad Garlinghouse have recently settled a lawsuit filed against YouTube over videos that allowed scammers to impersonate Garlinghouse to promote XRP giveaway scams.
These scams have managed to trick various XRP investors. The founder of XRP data aggregator XRPlorer, Thomas Silkjær, revealed that the scams cost Coinbase users over 940,000 XRP tokens (worth over $440,000).
Ripple and its CEO had sued YouTube over their failure to stop these scams in April 2020. The payments firm had claimed that YouTube’s inaction caused “irreparable harm to their public image, brand, and reputation.”
The complaint mentioned that YouTube was not meeting the standards it set out in its community guidelines to keep scammers and impersonators away. The motion maintained that Ripple informed YouTube of scammers claiming to give away free XRP on “countless occasions.”
Garlinghouse recently took to Twitter to reveal that the lawsuit has been settled. He said that the two firms will work together to “prevent, detect and take down these scams.”
Here are Garlinghouse tweeted the following:
“Last year, @Ripple and I sued @YouTube for failing to enforce its own policies by allowing fake accounts (impersonating my/Ripple’s verified accounts) to conduct XRP giveaway scams. We’ve now come to a resolution to work together to prevent, detect and take down these scams. 1/3
Social platforms are starting to acknowledge their role in allowing crypto scams to persist and recognize the need to be part of the solution. Some like @xrpforensics are helping detect/track stolen funds, but platforms need to lead the charge or it’s still just whack-a-mole. 2/3
While specific settlement terms are confidential here, it’s clear to all that without accountability and action, trust erodes in this industry, at a crucial time when govts around the world are looking closely at crypto. 3/3”
The CEO added that specific settlement terms are confidential, but noted that “it’s clear to all that without accountability and action, trust erodes in this industry, at a crucial time when govts around the world are looking closely at crypto.”
Ripple Price Is Expected To Reach These Levels
If the bulls continue to fight back, the Ripple price may climb back above the 20-day SMA and gain back a crucial level.