Hello, everyone. How is my XRP group Hope you had a great weekend Welcome to the new week In the past week the cryptocurrency market has been a roller coaster.
A lot has happened. The US Internal Revenue Service pointed out that XRP is actually a cryptocurrency, not a security. Well, at least according to the explainer video they posted, showing how XRP Used as a use case for cryptocurrency rather than security. However, there are rumors that the most important cryptocurrency of all time Bitcoin It may be hit hard soon Bitcoin may be facing some government regulations. This is One of the things we will learn about in todays, video
As warnings about Bitcoin are coming some Bitcoin ETFs New York stock market applications have also increased, which may be huge for the crypto market and has changed people’s lives, But until then all we can do is wait and hope for the best results. More importantly, we will study the SECs lawsuit against ripple in depth in which the SEC proposed Another motion for ripple‘s defense. Most importantly, we will discuss whether XRP will reach the highest level in history as soon as possible. Detailed insights,
Having said that, let’s introduce it As always. Welcome back to the Money Side, Your favorite encrypted news channel, If you are new here, welcome to join the gang Click, the subscribe button and open your notification so that we can publish daily XRP updates To be notified at the time.
Now, back to todays topic, if we look at the 7-day chart, w can see XRP decline Up
Due to the negligence and intimidation tactics of the U.S. Securities and Exchange Commission ( SEC ), our The stock price is $ 1.26.
But its not limited to XRP, the entire market is just getting started and the surrounding The situation looks really bad, That is to say in this video. I hope that we will interact with many other Together with outstanding technical analysts, listen to their views on the market, and What do you think about the future of XRP? The U.S. Internal Revenue Service, ( IRS ), is definitely not the? U
S. Securities and Exchange Commission ( SEC ). They have no regulations on the crypto market. However, in the explanatory video the IRS continues and Using XRP as a use case, a 2-hour explanatory video was shown on the cryptocurrency, Although this has nothing to do with the SEC case. It shows that sometimes The right hand may not know what the left hand is doing.
Here we mainly focus on government regulations and the entire financial Market supervision In order to win the lawsuit against ripple, the SEC defeated ripple Labs in one fell swoop. The SEC continues to propose a major defense measure for ripple
Here we are talking about a motion that ripple made earlier because they never Being told by the SEC that XRP can be considered a security. The Securities and Exchange Commission moved on and filed a motion for strike saying They mentioned this on XRP a long time ago.
Our current position in this case will be “ my words to your words” Happening. However, we still hope that this kind of strike motion will not be approved. It is consistent with the development history in most cases, Basically, unless the other party can actually provide a lot of evidence. Otherwise This may just slip away quietly under the radar. Obviously, the? U
S. Securities and Exchange Commission ( SEC ) is indeed trying to leave things behind so that they Benefit from the appearance of things. In my opinion, the SEC feels things are slowly slipping past. The final decision made by the judge, all supported, ripple Labs Consistent with this April 30, will be another important day for the SEC VS ripple lawsuit. This is because, before this date, a discovery hearing will be held and both parties Will bring what they need to the trial.
At this point, we shouldn’t be surprised to see something we’ve never encountered before in this situation. The market is closed. No doubt This begs the question: what catalyst will the whole tribulation be? Well, as Biden hopes to obtain new capital gains, the tax rate will increase to 43.4 %
For New York it might be 52.2 % and for California it might be 56.7 %. This may be the reason for the downturn in the market Now with this, who would be excited to buy more cryptocurrencies and get more capital. What about the benefits?
I hope everyone knows how it will happen. Even if everything happens, the famous cryptocurrency traders and analysts Credible crypto still shared with the XRP community on Twitter. That XRP did At the highest point in its history. It has achieved tremendous rapid development Encountering encryption. Wizards like Credible crypto is not easy, so we will study further His views on XRP market trends In his new tweet on Twitter, Credible crypto stated that the current XRP downward trend is rapidly Close to its Fibonacci retracement. Support of $ 0.618 many traders should pay close attention. This level is to seek a possible rebound
According to analysts and strategists $ 1.07 is XRP Catch. The main area of the moon For those traders who never worry about entry points $ 1.12 to $ 1.20. It is still a viable place to catch up with the upward trend.
We have recently witnessed an impulse that pushed the price of XRP from $ 0.50 to almost $ 2, Where we are currently, there is little possibility of a downside. Therefore, the next impulse will be stronger and it will become The impulse to take us into the new ATH of XRP
However, the price may stagnate at its current price for a week or two to form a more solid basis.
This is better than a quick exit that may not last. Let’s take a look at technical analysis. If we look at it from a daily perspective, it seems to have captured BTC The opening price given by its own rebound and the chart is recovering For a second. It appears to be heading towards the .86 mark, but before ascending Only 0
92 was touched, I drew a larger minor with 3.84 ATH. If XRP can go strong in a day, then there is no reason not to do it again Make it rise to the $ 2 mark. It may meet resistance, but should jump to $ 3 as it gains momentum And higher
$ 4 Is there anyone at XRP The RSI trend is improving and the MACD has not broken through yet, but it seems to be rounding.
If BTC continues to move forward, it will move upward and XRP and other alternative products are expected to have a strong rebound If BTC is dumped. Again. All bets are closed. Now we look at the 4-hour time frame. XRP breaks from the bearish trend line, The current candle is very critical for the bulls
If the current closing price is higher than the downtrend line, Then we will bring a bag after retesting. If it doesnt happen, we will be with lower support, Find a better entry.
However, the MACD is bullish in the 8H time frame, but it is better to remain stable. Similarly, in the current time period, FIBO 50 % may be a good support for XRP..