Since it's inevitable recent rise and finally breaking through the major psychological area of 0.80 we can definitely state this move was with intent. XRP was destined soon enough to break out this barrier given we are certainly in a crypto bull market.
The lawsuit filed by SEC toward Ripple had for sure put a hammer in the works, but since its progression we have seen a nice wave of demand.
In the last couple of days we have seen XRP's price action break the 1 dollar level! when the majority doubted it during its recent demise. This sure is telling. After such a move we understand as technical traders the move has to correct. Similarly during its 2017 price action, we saw corrections of 20-30 percent plus hence corrections like today can be deemed the crypto norm. I would like price to retest the 0.80 region as this would confirm a push to the upside given we see buy orders around this region.
Personal medium/longer term view
It will take 2 waves of demand to potentially amplify the bullish move that many XRP holders anticipate.
1. Initial wave of demand should come from the re-listing of exchanges. This should act as an initial catalyst to push price up. Keep an eye out for the re-listing on the larger exchanges.
2. Secondary wave of demand should come through some form of settlement with the SEC. This should amplify the price and really take XRP to the next level and towards its recent ATH.
Again the above is all my personal opinion and should not be taken as Financial advice.
Trade safe
Sunny Kumar
The lawsuit filed by SEC toward Ripple had for sure put a hammer in the works, but since its progression we have seen a nice wave of demand.
In the last couple of days we have seen XRP's price action break the 1 dollar level! when the majority doubted it during its recent demise. This sure is telling. After such a move we understand as technical traders the move has to correct. Similarly during its 2017 price action, we saw corrections of 20-30 percent plus hence corrections like today can be deemed the crypto norm. I would like price to retest the 0.80 region as this would confirm a push to the upside given we see buy orders around this region.
Personal medium/longer term view
It will take 2 waves of demand to potentially amplify the bullish move that many XRP holders anticipate.
1. Initial wave of demand should come from the re-listing of exchanges. This should act as an initial catalyst to push price up. Keep an eye out for the re-listing on the larger exchanges.
2. Secondary wave of demand should come through some form of settlement with the SEC. This should amplify the price and really take XRP to the next level and towards its recent ATH.
Again the above is all my personal opinion and should not be taken as Financial advice.
Trade safe
Sunny Kumar