We are still at the beginning of another good week and I hope that so far everything smoothly. Now, before we jump to today’s video, please remember that life will always provide you with many doors. It's up to you to decide which one to open and which one to close. The same is true in the encrypted world! What do i mean For the longest time, people have been discussing and discussing cryptocurrencies. But until recently , They have become more accessible and valuable financial tools than diehard crypto nerds . The cryptocurrency world has been going crazy, especially in the altcoin market, I think more people now These opportunities are being used.
Welcome to the money-making side! #xrpArmy is growing, and you shouldn’t be behind! Hop on board, click on the subscribe button, and when we release daily crypto updates Open the notification to get the notification. Back to today’s topic, the value of the cryptocurrency market exceeded $2 trillion for the first time . This begs the question, where did all this come from? Well, there is only one estimate here is that the altcoin market is booming. In fact, at the time of writing, the price of XRP, one of the most popular altcoins, is $1.36, Its market value has risen all the way to $136.21B. Having said that, let’s take a look at recent XRP news and events, which may Support the idea that prices may rise! Are the forecasts of technical analysts consistent with possible changes? According to the current situation, we will soon reach the goal of US$2 and eventually reach US$5. If this trend continues, the $100 mark will not be far away. This will be extraordinary for XRP, so we will continue to focus on it.
At the end of the video, please continue to pay attention to our detailed technical analysis. Without further ado, we will look at the XRP news, which talks about some The fundamental factors that will drive and support the price rise to these levels. First, the CTO of Ripple tweeted that XRP cannot defeat the SEC lawsuit because XRP Already has a considerable market value. According to David Schwartz, Stellar has similar technology to Ripple, but The strategy is different.
Although we don’t want to delve into comparing Ripple with Stellar, the truth is Ripple is less likely to fail because most of its customer base is not in the United States. This means that regardless of the SEC court’s ruling, it is unlikely to affect the world other areas. This will only hurt the United States. So far, Ripple has been widely adopted by XRP, which is the strong backbone here. In addition, in the past week, more exchanges have relisted on XRP, which has further improved the situation. If Ripple can get rid of this lawsuit, then it will become a price action Solid foundation.
That said, let's take a look at the latest situation regarding SEC Vs. Ripple litigation. SEC Update on Ripple Case Judge recently rejected SEC request Garlinghouse and Larsen disclose their personal information to the public Request. The SEC hopes to obtain eight years of personal information from the CEO for Ripple's case. Ripple’s lawyers argued that if the US Securities and Exchange Commission (SEC) seeks to intervene, all other XRP holders, including The major shareholder who has sued Ripple Labs Inc. for making an unregistered offer, It will also intervene. This can lead to a large number of claims, which can lead to complexity, undue delay and confusion. When the U.S. District Court Judge Sarah Netburn (Sarah Netburn) April 6 When the ruling was made, Ripple had a major victory. The ruling is in favor of granting Ripple the SEC's internal cryptocurrency The authority for internal discussions. In March, Judge Torres also made a sensational comment, namely, "My understanding of XRP is, It not only has monetary value, but also has utility.
" The statement acknowledged that XRP has practicality and monetary value. In addition, Garlinghouse’s lawyers said that if they find any hint that the SEC thinks XRP is similar to ETH or BTC Information, that might be a tough game. Run XRP without fluctuations In fact, the largest market for XRP is in Outside the United States. Although there is great hope for Ripple to win the lawsuit, Brad Garlinghouse said If they lose this battle, their company is ready to march without an XRP-based platform. In addition, Brad continued to say that the "irony" of the lawsuit was due to the SEC's claims Ripple sells XRP illegally, but they are still letting the court decide. But it makes sense. I mean, why the US Securities and Exchange Commission (SEC) can let the court determine whether it constitutes a crime, and The case is still under trial? Most importantly, the SEC is responsible for cryptocurrency rules and regulations, but they must rely on The court confirms the action. Either way, we all know that this lawsuit will only affect Buy XRP . More importantly, Garlinghouse thought XRP could run independently, but they tried Make sure that XRP will not pass.
Should I buy XRP? Looking closely at the price trend of XRP, it still shows signs of higher highs. It is worth the investment. It doesn’t sound like a broken record, but, guys, I believe XRP is what we all need An engine to utilize and profit from cryptocurrency. This is because even if there is a lawsuit behind it, there are a large number of followers behind this token . In addition, blockchain technology has been carefully designed to become a bridge between cryptocurrency and fiat currency . Not only that! Ripple is already in talks with global central banks to integrate its system with XRP integrated. There is no doubt that XRP has entered the future, and the technical team has Efforts are being made to ensure that litigation does not hinder its operation. Guys, I was under pressure on this and jumped into XRP while XRP was still moving forward. Let's look at the analysis. In this chart, we can see the monthly imbalance: there are three definite areas, To provide a key area where the price will consolidate before the completion of the continuation mode .
The price has now broken through the monthly area. The price now looks set to fall To between 1.21-0.84 US dollars. With the closing price of the monthly candles, the price here has been creating higher highs. The price information has notified the buyer of the imbalance, which Obviously it is a huge opportunity to prepare for buying imbalances. And in this chart, the weekly imbalance is shown, and the weekly area is outlined and located The upper part of each month, because these areas serve as recovery points for unbalanced trading. The very strong imbalance between US$0.26-0.24 indicates that there is a great chance of being long alone. This is only the case of buying, and when the price returns to these newly established trading ranges When the low point, the price fell back to the low point. An obvious opportunity to add is recognized here. If we put the four days and the weekly chart together, and refer to the price that is found to be inefficient in the weekly time frame , The formed pattern shows a powerful evil force, and with the influence of price behavior It was reversed.
The inefficiency was tested here, but now the seller has been removed and a purchase imbalance has been established . After the weekly mode is completed, there is a great chance that the weekly imbalance can be eliminated to maximize Hedging or actively selling from the + $ 0.60 area. On the contrary, it is short-lived, because new areas are always retested with XRP because the higher The weekly lows show a stable pattern. There are two key criteria to be followed here: 1- Price starts from the initial formation of price inefficiency Produced a critical weekly whiplash effect . 2- The most liquid result of this pair of currencies is , Test the previous imbalance under the risk of the price becoming a controlled transfer of price inefficiency. The monthly reference here shows four interesting candles, of which consecutive months Leading to the large candle wick, the price increase leads to the desired imbalance.
Cross-asset analysis: using a weekly time frame, XRP lags behind For two related currency pairs-however, it is a minor imbalance Provides a larger area for the new area. OMGNetwork-Black one Tezos-Green one The movement of these two coins has a very strong positive correlation. The daily chart is a Fibonacci retracement tool-area alignment These two contour areas clearly show that if you want, short positions are a good area for profit. And additional buying points. The price needs to close within the desired area and within four days And use these prices as a reference within the weekly time frame To make up for the imbalance.
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