When everyone is scared, buy.
I'm not a big fan of XRP, I'm not paid by anyone, I'm just saying my opinion.
We can see a big manipulation in the chart. Why? After the fall caused by the SEC process, however, the price went up by more than 80% of the minimum. Where does this force come from if this process has weakened investor confidence in this currency?
We can see that, technically, a superb double bottom has formed on H4 (strong bullish sign).
Fundamental? Lots of reasons to buy!
1. SEC deals with this, suing a lot of companies (Tesla, JP Morgan, etc.) hoping to win.
2. XRP is the 3rd most powerful currency and is used by over 200 banks worldwide.
3. Biden and the new SEC chief are crypto friendly.
4. When it is too predictable (everyone sells) you have to buy because otherwise everyone would get rich.
5. 95% of those who trade XRP are from outside the USA (an unfavorable court decision will have effect only for American citizens);
6. Coinbase was "required" indirectly by the SEC to delist XRP in order to receive secure company approval;
7. Besides 3, 4 large exchanges that have delisted XRP, there are still a few hundred that will trade (not a big problem);
8. Ripple's 15-page report shows a strong point of view that could win in court;
9. XRP being used by banks and being the 3rd strongest virtual currency, it benefits from a strong lobby in American forums;
10. It is also about nationalism here, Ripple invoking the fact that the first 2 cryptocurrencies (BTC and ETH) are Chinese, and XRP is American. There is little chance that an American court will destroy the strongest American cryptocurrency.
I think these reasons (and there are more likely) are strong enough to buy XRP right now.
The maximum level you can go down to? Maximum area of $ 0.2. This is my vision for XRP.
I'm not a big fan of XRP, I'm not paid by anyone, I'm just saying my opinion.
We can see a big manipulation in the chart. Why? After the fall caused by the SEC process, however, the price went up by more than 80% of the minimum. Where does this force come from if this process has weakened investor confidence in this currency?
We can see that, technically, a superb double bottom has formed on H4 (strong bullish sign).
Fundamental? Lots of reasons to buy!
1. SEC deals with this, suing a lot of companies (Tesla, JP Morgan, etc.) hoping to win.
2. XRP is the 3rd most powerful currency and is used by over 200 banks worldwide.
3. Biden and the new SEC chief are crypto friendly.
4. When it is too predictable (everyone sells) you have to buy because otherwise everyone would get rich.
5. 95% of those who trade XRP are from outside the USA (an unfavorable court decision will have effect only for American citizens);
6. Coinbase was "required" indirectly by the SEC to delist XRP in order to receive secure company approval;
7. Besides 3, 4 large exchanges that have delisted XRP, there are still a few hundred that will trade (not a big problem);
8. Ripple's 15-page report shows a strong point of view that could win in court;
9. XRP being used by banks and being the 3rd strongest virtual currency, it benefits from a strong lobby in American forums;
10. It is also about nationalism here, Ripple invoking the fact that the first 2 cryptocurrencies (BTC and ETH) are Chinese, and XRP is American. There is little chance that an American court will destroy the strongest American cryptocurrency.
I think these reasons (and there are more likely) are strong enough to buy XRP right now.
The maximum level you can go down to? Maximum area of $ 0.2. This is my vision for XRP.