Looking at decision making moment for XRP, and anticipating a likely drop- could be wrong but expect a return to about .50, possibly as low as .47, but don't think it'll go under that. Expecting fireworks at the beginning of 2021, stay tuned
First things first, thank you again for your great analysis.
Could you update the chart based on the news that just came out regarding the SEC suit against Ripple XRP please.
The price dropped by almost 18% since yesterday Dec 21 that the news came out, the current price is $0.45.
Would you see the price drop further due to the news?
Thanks
I base my decisions on technical & fundamental analysis- on a technical level, this is clearly at support:
Fundamental (copied from above):
The SEC lawsuit is outside of my realm of expertise, but from where I sit, here are my observations:
-Very odd that the SEC takes an aggressive stance like a lawsuit when they've provided no guidance themselves
-Very odd that this government article does speak to Ripple in a positive note (remove the space): federalregister. gov/documents/2020/06/05/2020-10278/remittance-transfers-under-the-electronic-fund-transfer-act-regulation-e
-No other country has deemed XRP a security, Japan has spoken out against it
-Does anyone honestly think the IMF, Bank of England, +250 banks around the world (not including r3 as they also use XRP) and multiple heads of state are doing business with a shady securities salesman? Use logic
-Jay Powell has already announced he's stepping down, and this happens? Weird.
-In the event Trump is still president due to points I made earlier, does anyone honestly think he'll allow CCP controlled BTC & ETH to dominate the crypto space? Not a chance. Crypto is today's space race
Noobtrader4080
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Thank you so much. I am trying to make a macro chart for xrp and you TA puts mine to shame. You called the drop. I am looking at the 47 cents.
tradeformula
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@wiction0 thank you-yes, I believe we will see $.47 in the near future. It won’t be for a long time though, I expect some significant buying pressure to come in and hopefully we will see five dollars within the next few months. Thanks for watching
cciel
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thank you as always! right on the money.
you see people calling for $100+ or even $200+ XRP out there. I know a while back you had some targets that were around that. what are your thoughts on $100+ or $200+ XRP?
tradeformula
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@cciel, Yes I had called for that in the past- it's still quite possible based on fundamentals, and how quickly things are implemented. IMO if (when?) Trump is reelected and is able to maintain the path the Treasury is going down, I think we'll see heavier implementation of XRP on a foundational level. Remember- the massive pop that happened in 2017, just a week earlier was when Ken Kurson was appointed to the Ripple board (Ken is a friend of Jared Kushner). See the Trump/Biden video I made a few weeks ago for more info.
Based on speculation alone, we're heading for $35 by Feb 2022 IMO- I could be wrong. Based on speculation + fundamental uncertainties, it could be significantly higher. If Biden is elected, a lot of use case for XRP goes away if it's true that his pick indicates XRP is a security. I don't think Biden will ever be elected though ;)
mneilson88
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You don't think Biden will be elected? What? I'm an Australian so I don't understand politics like a local but I thought this was done and Biden was 100% coming in.
tradeformula
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@mneilson88, I don't. It's a lot to unpack in just one comment, but it's based on several things:
1: ignoring protocol designed to prevent fraud from occurring
2: inexplicable dumps of votes occurring at 3am when poll workers have been sent home, and BS reasons to do so. GA said there was a water main break which never in fact happened
3rd: factors such as Biden not winning nearly the amount of counties Obama did yet somehow having significantly more votes,
4th: ignoring subpoenas to audit votes and outright ignoring those demands.
5th: the states with major issues all stopped voting on Nov 3rd all at the same time- unprecedented.
There's a lot more to it, but I don't believe the election was above board and will ultimately be struck down. How that happens is still a mystery to me but legally speaking there are multiple angles. I wouldn't normally bring up politics in this sort of forum but it will absolutely influence trading on a fundamental level
tarossjm
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@tradeformula, what is your prediction given the news that the SEC is suing Ripple? Also, if Biden is the President next month, what do you see this doing to the price of XRP?
tradeformula
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@tarossjm, The SEC lawsuit is outside of my realm of expertise, but from where I sit, here are my observations:
-Very odd that the SEC takes an aggressive stance like a lawsuit when they've provided no guidance themselves
-Very odd that this government article does speak to Ripple in a positive note (remove the space): federalregister. gov/documents/2020/06/05/2020-10278/remittance-transfers-under-the-electronic-fund-transfer-act-regulation-e
-No other country has deemed XRP a security, Japan has spoken out against it
-Does anyone honestly think the IMF, Bank of England, +250 banks around the world (not including r3 as they also use XRP) and multiple heads of state are doing business with a shady securities salesman? Use logic
-Jay Powell has already announced he's stepping down, and this happens? Weird.
-In the event Trump is still president due to points I made earlier, does anyone honestly think he'll allow CCP controlled BTC & ETH to dominate the crypto space? Not a chance. Crypto is today's space race
Could you update the chart based on the news that just came out regarding the SEC suit against Ripple XRP please.
The price dropped by almost 18% since yesterday Dec 21 that the news came out, the current price is $0.45.
Would you see the price drop further due to the news?
Thanks
wsj.com/articles/ripple-to-face-sec-suit-over-xrp-cryptocurrency-11608598800