⭐ Hey hey, hope all is well. Just gonna keep this short and simple.
⭐ We've been talking on this subject of that descending channel and breaking out the last few days and it's good to see that we managed to pull it off as we regained our 200 EMA after those 20, 50 EMA's flipped giving us the bullish confirmation we needed.
⭐ I have annotated and added in a local ascending channel that's formed, highlighted by our two parallel, upward-sloping trendlines indicating a controlled uptrend with buyers pushing prices higher.
⭐ That being said we can see that we're sort of exiting the channel now so chances are we may lose some ground, footing if we can't secure a higher high than $2.1 which in itself is already a great push up from just $1.84 yesterday to $2.14.
⭐ Just gonna keep an eye on those 20, 50 EMA's since those will play the biggest roles now that we're up here. We haven't been over$2 in a bit so understandably things will be choppy but one of the main drivers was our On-chain data highlighting over 500 million XRP that were recently transferred into escrow to be locked until 2028. That in turn removed over $1 billion of XRP from circulation. Supply reduction on that scale can definitely alter market condition by limiting available liquidity during rising demand so that's likely one of the aid's in helping us climb back up above that $2.00 point.
https://finance.yahoo.com/news/500-million-xrp-removed-supply-173441597.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAKz0bOs6hq19v2fI-dFe4O92uDKSKQTpwtjdAhDSzENTIsfqFMAo9WQ5lwy04gKQoY_g3dZsxkWug46OHIguKZQLGdt5MifkAsyctXpan8MPJ1J2AO2mDPQcWV1jmyut-vAJFZm_0h0CLOunbj-igZl5_D4mgYhkiaokSiOwNep9
⭐ Another boost was the Former SWIFT CEO predicting that the network would embrace cryptocurrencies and digital assets like XRP once regulations stabilize and there's more solid ground essentially as these banks remain hesitant to adopt it due to currency volatility understandably. So definitely a good and positive note for what will possibly be future adoption with the comments boosting sentiment.
https://coinpaper.com/13525/swift-could-welcome-xrp-once-regulations-set-former-ceo-says
⭐ Last but not least, we've seen Bitcoin climb back above $90,000 showing resilience and dominance, even at a time of global unrest following the US Venezuela Strikes and capture of Maduro as the asset has managed to keep in the green this week and climb nearly 4% after nearly hitting a low of $87,000 on the 1st.
⭐ Have to go but thanks for tuning in and joining me today, appreciate you guys as always and just keep mind things will be choppy and we may retrace or reverse and lose some ground, but this push is enough of a bullish sign for this year, 2025 was the year of the snake but 2026 will be the year of the horse and we'll be moving in full gallop.
⭐ Thanks for everything and be sure to keep tuned, appreciate it all and talk to you all soon!
Best regards,
~ Rock '
⭐ We've been talking on this subject of that descending channel and breaking out the last few days and it's good to see that we managed to pull it off as we regained our 200 EMA after those 20, 50 EMA's flipped giving us the bullish confirmation we needed.
⭐ I have annotated and added in a local ascending channel that's formed, highlighted by our two parallel, upward-sloping trendlines indicating a controlled uptrend with buyers pushing prices higher.
⭐ That being said we can see that we're sort of exiting the channel now so chances are we may lose some ground, footing if we can't secure a higher high than $2.1 which in itself is already a great push up from just $1.84 yesterday to $2.14.
⭐ Just gonna keep an eye on those 20, 50 EMA's since those will play the biggest roles now that we're up here. We haven't been over$2 in a bit so understandably things will be choppy but one of the main drivers was our On-chain data highlighting over 500 million XRP that were recently transferred into escrow to be locked until 2028. That in turn removed over $1 billion of XRP from circulation. Supply reduction on that scale can definitely alter market condition by limiting available liquidity during rising demand so that's likely one of the aid's in helping us climb back up above that $2.00 point.
https://finance.yahoo.com/news/500-million-xrp-removed-supply-173441597.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAKz0bOs6hq19v2fI-dFe4O92uDKSKQTpwtjdAhDSzENTIsfqFMAo9WQ5lwy04gKQoY_g3dZsxkWug46OHIguKZQLGdt5MifkAsyctXpan8MPJ1J2AO2mDPQcWV1jmyut-vAJFZm_0h0CLOunbj-igZl5_D4mgYhkiaokSiOwNep9
⭐ Another boost was the Former SWIFT CEO predicting that the network would embrace cryptocurrencies and digital assets like XRP once regulations stabilize and there's more solid ground essentially as these banks remain hesitant to adopt it due to currency volatility understandably. So definitely a good and positive note for what will possibly be future adoption with the comments boosting sentiment.
https://coinpaper.com/13525/swift-could-welcome-xrp-once-regulations-set-former-ceo-says
⭐ Last but not least, we've seen Bitcoin climb back above $90,000 showing resilience and dominance, even at a time of global unrest following the US Venezuela Strikes and capture of Maduro as the asset has managed to keep in the green this week and climb nearly 4% after nearly hitting a low of $87,000 on the 1st.
⭐ Have to go but thanks for tuning in and joining me today, appreciate you guys as always and just keep mind things will be choppy and we may retrace or reverse and lose some ground, but this push is enough of a bullish sign for this year, 2025 was the year of the snake but 2026 will be the year of the horse and we'll be moving in full gallop.
⭐ Thanks for everything and be sure to keep tuned, appreciate it all and talk to you all soon!
Best regards,
~ Rock '
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.