Analysts are optimistic about the recovery of XRP and predict a rebound in the altcoin. The XRP price rally has helped the altcoin recoup its losses over the past few weeks. Key technical indicators in XRP continue to move in a bearish trend, but the progress in the SEC and Ripple case has sparked a bullish sentiment among investors.

The XRP price has dropped 27 percent in the past week, after severe losses in the cryptocurrency markets. Altcoins and meme coins suffered huge losses after the collapse of Terra's stablecoin UST. In the SEC's lawsuit against Ripple, the defendant's attorneys responded to the protected emails of William Hinman, the former director of Corporation Finance. The organizer requested that Hinman's emails remain confidential, which were subject to attorney-client privilege.

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The response by Ripple lawyers has been perceived as positive among investors and XRP appears to continue to recover. Technical analyst Bob Mason evaluated the XRP price trend and states that the altcoin should move at the pivot at $0.43 and target the first significant resistance at $0.50. He says that with its support in the cryptocurrency market, Ripple price could surpass the $0.45 levels.


The analyst expects XRP to expand the price rally and test the bullish resistance levels at $0.59 and $0.60. He also states that if Ripple (XRP) price fails to break past the pivot, it may risk falling as low as $0.34. If the bears take control of the altcoin, Ripple (XRP) could drop below $0.34 and continue to drop as low as $0.27. Crypto analyst and investor BONTESA has a bearish view of the altcoin and the opposite of Mason. He argues that XRP is in a bearish trend towards the $0.23 levels.