6.1.2021 - Ripple (XRP / USD)
Hi Traders!
Today we will look at the XRP / USD analysis and take a closer look at the Ripple case.
XRP has flooded newsfeeds in recent days with reports of a lawsuit filed by the SEC (US Securities and Exchange Commission). The SEC filed a lawsuit against Ripple, which created cryptocurrency XRP. The lawsuit alleges that Ripple was involved in the sale of the securities - meaning their XRP cryptocurrency. It should be added that this action has been pending for a longer time.
At the moment, it is difficult to say how it will turn out. Ripple has capable lawyers and one of them is a former member of the SEC. Some exchanges have already suspended the trading of XRP or wanted to delist XRP. At the moment, therefore, we would avoid any investment in this cryptocurrency.
But let's take a look at the XRP chart. From below, we have very strong support at the level of USD 0.1713, and from above, strong resistance at the level of USD 0.25. Although we do not know how the SEC lawsuit will turn out, the chart always reflects investors' expectations, so we can see the outcome of this lawsuit from the chart before it's in the news. If we break the support downwards, it looks very bad with XRP. Conversely, if we break through resistance, then XRP may be waiting for good times. However, while we are at the current level, we only monitor and do not buy XRP.
May the crypto be with you!
Today we will look at the XRP / USD analysis and take a closer look at the Ripple case.
XRP has flooded newsfeeds in recent days with reports of a lawsuit filed by the SEC (US Securities and Exchange Commission). The SEC filed a lawsuit against Ripple, which created cryptocurrency XRP. The lawsuit alleges that Ripple was involved in the sale of the securities - meaning their XRP cryptocurrency. It should be added that this action has been pending for a longer time.
At the moment, it is difficult to say how it will turn out. Ripple has capable lawyers and one of them is a former member of the SEC. Some exchanges have already suspended the trading of XRP or wanted to delist XRP. At the moment, therefore, we would avoid any investment in this cryptocurrency.
But let's take a look at the XRP chart. From below, we have very strong support at the level of USD 0.1713, and from above, strong resistance at the level of USD 0.25. Although we do not know how the SEC lawsuit will turn out, the chart always reflects investors' expectations, so we can see the outcome of this lawsuit from the chart before it's in the news. If we break the support downwards, it looks very bad with XRP. Conversely, if we break through resistance, then XRP may be waiting for good times. However, while we are at the current level, we only monitor and do not buy XRP.
May the crypto be with you!
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