Despite the news of SEC, XRP still maintained
a solid bullish trend even during the substantial market drop when bitcoin had a slight consolidation
after Tesla's announcement. Just a few days ago, all altcoins felt the
effect of Tesla not accepting bitcoin payments anymore. But here's the thing: XRP is still solid in
the game, no matter what happens around it. And guys, this coin hasn't, for once, showed
any signs of slowing down.
So, what next for Ripple Labs and XRP? What will happen after the court clears the
air on XRP? What's up, guys! Welcome to Money Side, where we let money
do the talking. If you are new here, hit that subscribe button,
and let's make this money together. We've seen the good and the bad days of XRP. If you were to ask me, I think we've already
hit rock bottom of XRP's price. But let's be frank here! What do you think is driving the price of
XRP? It's not hype, that's for sure. This coin has been on a bullish run for a
while, and it's not because of the lawsuit but because this coin has an excellent mission. We all know about the SEC going after KIN
cryptocurrency. And when the air cleared out on KIN, the crypto
went on a solid bull run of up to 2000%. So, will the same case happen for Ripple Labs
and XRP? Or we might see a different future? Anyway, please stick around, and let's take
a look at some of the facts. I honestly think that XRPs bull run is coming
no matter what happens with the lawsuit.
XRPs price is under pressure thanks to the
SEC lawsuit, but I really don't think that the court case could stop the XRPs bull run
price. I read a Tweet by @PeterVas6 that really made
a lot of sense in my mind. Not because I'm pro-XRP. The idea doesn't seem so far-fetched. Peter went on to say that XRP gained a whopping
34000% in the year 2017 2018 bull run. 34,00%, guys! That's mind-blowing. Then he went on to support his idea with a
ranking list of the biggest crypto asset performance in 2017. Honestly, charts do not lie.
Ripple Labs was leading in 2017 in terms of
gains. And sure enough, this company was headed straight
to the top. Besides that, we've seen only two strong crypto
companies that seem to be battling a lot for that top spot, Ripple Labs and Ethereum. Guys, it doesn't get any clearer than that. If you look at the facts and the charts, the
XRPs bull run could potentially be close. All that needs to happen is the SEC should
stop holding this coin back. Let's take another idea into perspective. Okay, you need to bear with me for a few seconds. According to Ripple's CEO, Brad Garlinghouse,
over 90% of XRPs customers are not from the US.
That means that even if the lawsuit doesn't
go their way, the only traders who will be affected are the ones in the US. That could have a substantial impact on the
price of XRP, but I don't think it will drop for a long while. Its price will recover after a few weeks or
months, and the coin will soar again to the top.
Don't get me wrong! Such bearish movements will, without a doubt,
scare away any short-term trader, but for the long-term holders, they won't budge. The other thing is that Ripple Labs will have
to register their company as a brokerage, affecting their profit margins. But that doesn't necessarily mean they will
fall. They only have to change their approach to
the US market. Brad also confessed that they might have to
slow down their activities in the US and go global. Which, from my point of view, isn't such a
bad idea for the company. At the end of the day, if most traders are
not US citizens, it beats logic to continue fighting to gain traction in a market where
the regulatory bodies are on their necks. Therefore, we could witness a change in the
Ripple Labs administrative processes. And that's all! Everything else in this company will remain
intact, and the price of XRP will keep moving up. On the flip side, if Ripple Labs wins the
case, XRPs price will go through the roof in a matter of minutes.
People will be purchasing XRP in fear of missing
out. Most people will not even consider the fundamentals
of XRPs and the application of this company outside the crypto world. And yes, that will continue to drive the price
of this coin to even higher highs. So, even if they clarify what XRP is about,
I don't think its bull run has a lot to do with that. Since the market only operates on supply and
demand. And that means this coin could continue moving
up in the world.
But the use case of this coin is so gigantic
that this coin is undeniably worth a fortune. And I'm not just saying that to hype you guys. This coin will be used as the middle between
fiat and crypto, and if you are selling or buying XRPs, you could be changing the world
as we know it. But again, for this coin to have an open market
price, we need to understand how this coin operates and its use case. So many people do not entirely get the gravity
of this coin and what it's trying to do that everyone is currently just buying out of FOMO. I'm not saying that's not an excellent way
to invest in the crypto world. But that will only expose you to hype coins,
and you might fall trap to crappy coins.
All in all, the speculative chart analysis
of XRP will surprise you. With that in mind, let's take a look at the
charts. In this 2 hour chart, XRP has been stuck in
a range although it looks like we are nearing a breakthrough with this inverse H&S pattern,
The RSI & MACD indicate a move to the upside on the TECHINCAL side to support, we have
also fundamentals in favour of XRP as an eco-friendly cryptocurrency. I will really be happy if we are able to break
over $1.75 resistance because that will really indicate euphoric price movement. Now we are looking at 12 hour time frame,
Overall, I am still Bullish on XRP and seems to be in a nice triangle set-up that will
soon test the resistance at the $1.95 area.
Obviously, BTC can always impact a trade,
but XRP held up fairly strong and didn't lose its momentum. This is confirmed by the strong recovery of
XRP during the BTC bearish momentum and correction. If we are able to break the S1.95 resistance,
higher targets can be reached as indicated on the chart, with a long shot at testing
previous ATH. Support levels are at $1.30 with a swing low
support at $1.18 area. Entry on those levels is still a probability
as XRP still might need some days to start with the continuation of its pattern. Hold On For Dear Life Guys! As always trade safely and be aware. Look at the levels at all times. Good luck to y'all
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