shorting the bottomshorting the bottom
its like catchin the knife but on purpose like trying to catch the sharp part not the handle
Garygensler
XRP Faces Turbulence: Traders Suffer Losses Amid SEC Lawsuit
The CRYPTOCAP:XRP market is grappling with turbulence as traders count their losses amidst mounting uncertainty surrounding the Securities and Exchange Commission's (SEC) lawsuit against Ripple ( CRYPTOCAP:XRP ). With the price plummeting to a two-week low of $0.56, investors are bracing for further volatility ahead of the next key deadline in the legal battle on April 22. As Ripple prepares to present its response to the SEC's remedies-related brief, the fate of XRP hangs in the balance, prompting traders to reassess their positions in anticipation of the impending developments.
The Ripple Effect:
The recent downturn in XRP's value has sent shockwaves through the market, with traders collectively suffering losses amounting to $25.67 million since Tuesday. This stark decline underscores the prevailing uncertainty surrounding the outcome of the SEC lawsuit and its implications for Ripple and the broader cryptocurrency landscape. As traders grapple with mounting losses, the Network Realized Profit/Loss chart on Santiment reveals a sign of capitulation, further exacerbating market sentiment and fueling speculation about XRP's future trajectory.
Navigating Uncertain Waters:
Against the backdrop of legal turmoil, CRYPTOCAP:XRP holders are closely monitoring the upcoming deadline in the Ripple lawsuit, particularly Ripple's expected opposition to the SEC's remedies-related brief on April 22. The outcome of this legal skirmish is poised to shape the narrative surrounding CRYPTOCAP:XRP and determine its near-term price action.
Technical Outlook
CRYPTOCAP:XRP holders are closely monitoring the next key deadline in the Ripple lawsuit, particularly regarding Ripple's expected opposition to the SEC's remedies-related brief on April 22. Technically XRP's price may potentially experience a liquidity sweep at $0.56 before beginning its recovery.
CRYPTOCAP:XRP has been able to sustain itself above the two key support levels for almost a month. If CRYPTOCAP:XRP price collects liquidity at the $0.5673 support, the altcoin is likely to bounce back and fill the Fair Value Gap formed between $0.6030 and $0.6103 and another one between the $0.6185 and $0.6204 levels.
SEC Can't Even Secure Their Own X Account!Serious question here folks. If the SEC can’t even be bothered to enable a small and effective mechanism of security (2FA) on their own X account, how can we expect them to “protect” and “secure” your money?
SEC Manipulates Bitcoin with Fake ETF Approval News-Intentional?Trigger Warning: This video may offend those who are religiously dogmatic in their political affiliations. Do not watch if you prefer not to have your gods critiqued.
I had just put out a video earlier this morning warning you all that the SEC and Gary Gensler may pull some tricks out of their hat. A few hours later, the SEC puts out a false tweet, liquidates millions, and claims that their account was compromised for the first time in their X history. Something very much doesn't smell right here folks. But, unfortunately, none of this surprises me. I literally titled another video a few days ago, "Expect the Unexpected". Now, we can see firsthand exactly the type of shenanigans I am referring to in these two previous videos.
'FED Up' for a 'SEC' .... 🤡 They Buy their Own Dips!! 😂🚀What's up Simpsons?
In the first part of yesterday's episode the Federal Reserve became FED-UP of hiking interest rates. This normally is good news for indices and Bitcoin. Especially now that inflation has eased (Link 1)
In the second part of the episode, 🤡Jerome Powell gave the performance of his lifetime: While Springfield was hot and humid this June he said the winter storms will return in July!
He asked citizens to:
🤡wear their jackets
🤡Inflate their snow tubes and wax the sleds
🤡start knitting some woolen bikinis and swim trunks
🤡Get the Christmas lights ready
At the end of his dramatic speech, Jerome touched everybody's hearts with a closing statement:
''Let's show the sun who's boss around here! Who said snowball fights were only for December? Get your gloves on and your aim ready, we be heading for a cold snap in the middle of this summer heatwave but nothing says 'summertime fun' like twinkling icicles in the palm trees!"
Don't miss the next episode: "Bitcoin Laughs All The Way! 😂🚀💰💹"
One Love,
the FXPROFESSOR
ps1: 🤡Jerome? Garry? 🤡
You guys buy your own dips man? It kinda feels like it!!!😂🚀 (Why? Because you both know the power of Bitcoin as a trustless system in a trustless New world. Check Janet Yellen's comments (Link 3)
ps2: If you prefer to stay short maybe make sure your snow boots fit over your flip-flops...
ps3: read the What's up with that Mr Gensler? 🤨post and make sure you also read the post update dated June 8 (look at the support level):
LINKS:
(Link 1): CPI report: US inflation is coming back down to Earth: edition.cnn.com
(Link 2) Fed Chair Powell Dances Between Pause and More Interest Rate Hikes: www.bloomberg.com
Link 3: finance.yahoo.com
Janet Yellen now says Americans should expect a decline in the USD as the world's reserve currency — what’s really going on and how can you prepare?
🤡the clowns already know how to prepare: Buying some Bitcoin🚀
🔔 Jingle all the way, oh what fun it is to ride the STX train🚄🔔Merry Xmas to all SEC and Powell bears:
🔔reference:
🔔Dashing through the snow
In a one-horse open sleigh
O'er the fields we go
Laughing all the way
Bells on bobtails ring
Making spirits bright
What fun it is to ride and sing
A sleighing song tonight, oh!🔔
🔔Jingle bells, jingle bells
Jingle all the way
Oh, what fun it is to ride
In a one-horse open sleigh, hey!🔔
🔔🔔🔔MERRY XMAS JEROME, MERRY XMAS SEC!🔔🔔🔔 HAPPY NEW YEAR BEARS!!
The FXPROFESSOR 🎅
OH I FORGOT: STX IS A TRAIN 🚄🚄🚄🚄🚄🚄🚄🚄
XRP vs SEC lawsuitThe lawsuit brought against XRP by the U.S. Securities and Exchange Commission (SEC) presents significant challenges for the cryptocurrency, suggesting a potential unfavorable outcome. Several key factors contribute to the argument that XRP may lose the lawsuit:
Regulatory Classification: The SEC contends that XRP should be classified as a security rather than a digital asset. This argument stems from the agency's belief that XRP meets the criteria of an investment contract, subjecting it to securities regulations. If the court agrees with the SEC's classification, it could have serious implications for XRP's status and operation.
Precedents: Previous cases involving the SEC and other cryptocurrencies, such as the Ripple and Kik Interactive cases, have resulted in unfavorable outcomes for the defendants. These rulings have established a precedent that strengthens the SEC's position and potentially weakens XRP's defense.
Investor Protection Concerns: The SEC's primary objective is to safeguard investors and ensure fair market practices. The allegations against XRP, including the sale of unregistered securities and potential market manipulation, align with the SEC's mandate to protect investors. This focus on investor protection may sway the court's decision against XRP.
Ripple's Control and Influence: Ripple Labs, the company associated with XRP, has faced scrutiny over its level of control and influence over the token. The SEC argues that Ripple's actions, including the sale of XRP, indicate a centralized entity exerting control, which conflicts with the decentralized nature often associated with cryptocurrencies. This argument could weaken XRP's position in the lawsuit.
While the outcome of the lawsuit remains uncertain, the aforementioned factors suggest that XRP may face challenges in defending its case against the SEC. It is essential for XRP holders, traders, and investors to closely monitor the developments in this legal battle, as the verdict will undoubtedly have significant implications for the future of XRP and the broader cryptocurrency industry.
It is my belief that in light of the ongoing lawsuit, XRP is likely to face an adverse outcome, resulting in a significant sell-off of the cryptocurrency, potentially driving its price down to the $0.10 level.
Looking forward to read your opinion about it.
