XRPUSD (Ripple) – Week 30 – Are the bulls in control?
The Securities and Exchange Commission (SEC) and Ripple Labs are at odds once again over Ripple's argument that the SEC failed to offer "fair notice" that XRP transactions were illegal or that the SEC would subsequently declare XRP a security.
As reported by blockchain tracker Whale Alert, over the past 16 hours, Ripple, the largest exchange in China (Huobi) and Binance have moved 110 million XRP in two transactions. According to Whale Alert, Bitstamp also first received 19,289,920 XRP (equal to $10,826,389) and, a short while later, it received a tranche of 200,000,000 million XRP tokens (totaling $112,760,867).
Technically, the price of XRP broke the orange trendline marked on the chart. The higher probability move is to the upside. For the conviction of the trade to be higher we must wait for a consolidation in this area before entering the trade. We advise caution.
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.
As reported by blockchain tracker Whale Alert, over the past 16 hours, Ripple, the largest exchange in China (Huobi) and Binance have moved 110 million XRP in two transactions. According to Whale Alert, Bitstamp also first received 19,289,920 XRP (equal to $10,826,389) and, a short while later, it received a tranche of 200,000,000 million XRP tokens (totaling $112,760,867).
Technically, the price of XRP broke the orange trendline marked on the chart. The higher probability move is to the upside. For the conviction of the trade to be higher we must wait for a consolidation in this area before entering the trade. We advise caution.
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.
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