What's the matter, guys? I hope you have a good day today. Today, I am back with another hot XRP jam, so you'd better wear your seat belt. Looking at some of the headlines today, we can see that the government and banks are It's incredible to enter the cryptocurrency field. Although we are still discussing, we still got some evidence that this happened. More importantly, we will look into 2021 Fed digital currency and XRP price trends . It is difficult to accumulate a 620.50% increase. However, we briefly stumbled and fell to 1.30 US dollars.
I really don't know what is going on with XRP. However, I think there is only one way to discover. As always, welcome back to Money Side-your favorite encrypted news channel. If you are new here, welcome to the XRP gang. Click the "subscribe button" and turn on your notification, so as not to miss our Daily encryption news updates. Due to the intimidation strategy of the US Securities and Exchange Commission (SEC), our current price is slightly higher than 1.45 The US dollar is in the range of 1.437-1.53 9 days.
do not worry We will get to this point soon. But at the same time, let's start with today's news. Can we? Turning to Twitter, we can see @val5linx pointed out that according to reports, Swiss multinational investment Banking and financial services company UBS Group AG (SWX: UBSG) is exploring a variety of Methods of making crypto investments to its wealthy clients. Well, guys, this is how it works. What can we say? The wealthiest customer is always the first to get something. What we see here is a traditional investment bank, just like JD Morgan's involvement in encryption Like currency, they start this journey by providing tips to the wealthiest customers . It's incredible to see such adoption. I think it’s time for traditional banks to realize that they don’t use cryptocurrency.
They will see some of the wealthiest customers eager to make cryptocurrency transactions to gain What they want. This is why we may see more governments and banks join the ship. This is such a big event that may mark the beginning of something more remarkable. Correspondingly, we also see that Nebraska lawmakers are Take an initiative to enable state-owned banks to provide cryptocurrency services. I must admit that this means a lot for the crypto world, because we will see more states soon Fall into this ranks. Once more banks realize this, we will witness actual competition. Even better, we will see these traditional banks participate in crypto products and Hosting. Ripple has released its report for the first quarter of 2021 and has shown a stable performance. The report shows that XRP sales have increased by 100% compared to the previous quarter's sales. In addition, despite The SEC is in a lawsuit, and the report still shows the accumulation of wallets from the "whale" . All in all, well-known journalists began to emerge in large numbers . An article published on Cryptoslate.com pointed out: "A strange phenomenon that soon appeared was The day after the lawsuit was filed, Jay Clayton resigned as chairman of the SEC.
This situation has triggered some people to consider filing a case Have ulterior motives . In addition, the article continued: "From the perspective of securities, An important part of Ripple’s defense is that it assumes that XRP is the same, as the SEC believes Bitcoin and Ethereum are non-securities. However, the SEC believes that Ripple made this assumption wrong. " This information may not be new, but the New York Times article describes it in detail The scale of the “revolving door” appointments, the discovery saw many former public officials, not just Clayton, eventually boarded some senior positions in the industry. The real question is, what are these former politicians and civil servants doing , Or doing something more insidious? Now, let's change the gear a bit and see the price movement of XRP. According to another tweet by @val5linx, there was an increase of 32,943% in 2017 and a decrease of 82% in 2018. Then to 2021 so far; it has risen by 625%. Therefore, regardless of our current price of $1.46 this year, the price of XRP has risen 620.50%. Regardless of the SEC filed a lawsuit, the asset has received considerable returns. Although the SEC case currently favors Ripple, It is a bit worrying to see such a price conflict, especially when XRP hits the $0.321 level.
Especially now that we are in uncharted territory, we cannot be sure about Gary Gensler holds shares for us in terms of encryption rules. On Twitter, we can see that @defenddark is also an excellent chart analyst. He Say "321. This is the scariest scene I have ever faced with cryptocurrency. No one has shared yet. Maybe I have other glitches. Look at the exact location XRP encountered. $ 0.321. Really great This is why I always say that day trading is a huge risk. " In addition, "Many people say this is a glitch. I do not think so. A lot of XRP will definitely change hands. Look exactly at its stop loss position of $0.321. coincidence? of course not. Let us ask, is this related to the 10 billion failure a few days ago? " The sudden Flash crash in XRP makes you wonder.
What happened? Nevertheless, ABC is still in the process of correction, and despite the flash crash, XRP is still Stay above $1.33. I think from now on, we must pay close attention to XRP. Now, let us delve into the technical analysis of XRP! We are working on a 12-hour schedule. XRP has managed to maintain its structure so far and has now In my chart, a main ascending channel structure with a black border is established, in which XRP has The number of coherent waves with the main wave C that will be formed in the next period Many times, the wave C will continue to test the XRP at a very high probability from the resistance cluster Remaining resistance still in the structure that is pulled back . When this kind of pull back to zoom in and continue to move to the possible mark When the channel pattern is below the lower boundary, it will complete as a bear flag and XRP will continue Further continuation. If we look at the 4-hour time frame; after completing the radical 5th wave drop of wave 1 of wave C that is about to be completed , The bulls hope to break the resistance above the level because The price is ready to bring the price back to the level of $1.60-1.70.
Currently 535 Zig Zag corrections are being developed, and we can expect that A wave will form the leading Diagonal line (first green wave structure). The pullback of this pattern requires an average drop of 78.6% to $1.20-1.30 Range. From $1.20-$1.30, the XRP Army will once again feel confident in the rise. The large-scale test approaches the $1.60-$1.70 range, and the XRP Legion is ready to return $1.70 range. Therefore, XRP has established a symmetrical signal flag, conveniently located between the two major price milestones.
The measures taken to break (I mean up or down) brought us to these levels, and It is difficult to tell how this situation will develop in the short term. I do not trade this model. Both cases seem reasonable, and the triangle has not been verified. Hold what I got and wait patiently. In the long term, I am still very bullish, and my previous target price remains unchanged at $11.25-$17. wish everyone. Safe transactions my friends. Please remember that we are not a licensed financial advisor. All videos on this channel are for entertainment purposes only. Tell us what you think in the comments section below and let us have a conversation. Thank you very much for watching.
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