XRP gave us an unexpected surprise this Christmas...
SEC sued Ripple and its two main lead figures claiming XRP is a security... this tanked the price 60% in 2 days. RIP XRP buyers that hoped for moon. Regardless, the TA was quite clear and XRP gave some clear bearish signs before it tanked.
What now? XRP is in a relief rally, which is quite impressive at 80% from it's local bottom. Props to those that bought under 0.30.
However, the moment of truth is coming near at 0.43. This is a strong resistance area and it is unlikely XRP can sustain any bullish trend in the current context, so it would be prudent to take profit at around that level and wait for price action to give us more signs of next steps.
Should we push above that level, then XRP may recover it's losses in full, but that is slightly unrealistic currently. The SEC lawsuit will only affect US exchanges and users, so not the end of the world.
Nevertheless, any delisting from a major exchange like Coinbase will push price lower fast. But the chance for this is very low. XRP is one of the top coins for most exchanges, so they will delist it only if forced.
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SEC sued Ripple and its two main lead figures claiming XRP is a security... this tanked the price 60% in 2 days. RIP XRP buyers that hoped for moon. Regardless, the TA was quite clear and XRP gave some clear bearish signs before it tanked.
What now? XRP is in a relief rally, which is quite impressive at 80% from it's local bottom. Props to those that bought under 0.30.
However, the moment of truth is coming near at 0.43. This is a strong resistance area and it is unlikely XRP can sustain any bullish trend in the current context, so it would be prudent to take profit at around that level and wait for price action to give us more signs of next steps.
Should we push above that level, then XRP may recover it's losses in full, but that is slightly unrealistic currently. The SEC lawsuit will only affect US exchanges and users, so not the end of the world.
Nevertheless, any delisting from a major exchange like Coinbase will push price lower fast. But the chance for this is very low. XRP is one of the top coins for most exchanges, so they will delist it only if forced.
Like and subscribe!
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