XRPUSD (Ripple) – Week 21 – The bears still have the upper hand

According to the XRPscan website, Jed McCaleb, who co-founded Ripple with Chris Larsen, has transferred up to 265 million XRP from his electronic address to sell in the last 20 days. In the meantime, he still has nearly 400 million XRP in his "Taco stand" wallet. His net worth has recently decreased by 27%, according to Forbes.

In another episode of the legal battle between Ripple and the SEC, the latter contended that Ripple “misstated” the fairness doctrine principles, before asserting that the factual claim in their “fair notice” could be assessed only by examining privileged communication.

Technically, XRP broke the resistance area at $0,94-$0,99 USDT and with the price data that we have now we forecast a consolidation for this pair and then a continuation to the downside. This is the higher probability move in our opinion.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.