🚨 BREAKING: The SEC and Ripple have agreed to drop their remaining appeals, with Ripple recovering 75M from escrow and the SEC keeping 50M. This marks a likely final resolution to the long-running case.
BTCUSDT U.S. SEC vs. Ripple case is nearing its conclusion, with delays caused by Ripple’s legal team negotiating more favorable terms regarding the August 2024 ruling. Ripple argues that if the new SEC leadership is rolling back enforcement actions against crypto firms, its penalty is unjustified. Accepting the ruling would imply admitting wrongdoing, while the SEC itself has yet to take a definitive stance
If BTCUSD corrects further, the 34-week EMA at $83,280 will likely be the bottom, though it may temporarily dip below support as usual.
The key level to hold is the 21-week moving average, and we need to break and stay above $89,600 to invalidate the $83,280 bottom. Notably, XRPBTC is holding strong and hasn’t capitulated as much as the XRPUSD pair, suggesting that once Bitcoin bounces parabolically, XRP will take off making higher highs.
Based on my previous analysis, a correction on Friday seems more likely. Unfortunately, the math doesn’t lie. While I’ve been accurate so far, I’d love for the market to prove me wrong; I want the bleeding to stop!
Be sure to check the BLX chart, as it has the most historical data for Bitcoin. Just keep in mind there’s a several-hour delay, so don’t expect to see real-time price action.
On the daily timeframe XRPBTC is sitting way above the 55 SMA and approaching the 21 daily moving average! That’s bullish! It’s waiting for the XRPUSD pair to catch up! Oh yeah! I hope we hold strongly this week. We need to weather this week! We are so close! Don’t lose your shit leverage trading! You’re better off sitting in spot until we’re done with this correction!
XRPUSD The most beautiful thing—The XRPUSD chart looks almost identical to the XRPBTC chart. This means that we gain more Bitcoin value as we climb, and we lose Bitcoin value as we dump. Overall, we are ahead. So, you accumulated more Bitcoin by holding XRP during this run than you lost. And when both XRP and Bitcoin move together, that’s the definition of mooning. 😍 Patience!
Front ran the weekly VAH showing bullish momentum growing. Might not end up going to the 2$ range but still am expecting a rejection on this pump. might end up just going down to the 2.14 level.
Still expect to close the monthly in the 3-4$ range. But lower is still in he cards until structure is broken (daily close above 2.71)