UK Treasury has came out and said that XRP is not a security and it came under another brand of asset, 'unregulated tokens' "In December 2020, the U.S. regulator filed a lawsuit against Ripple, which alleges that its ongoing XRP token sales constitute an unregistered securities offering worth $1.38 billion." "Meanwhile, Ripple CEO Brad Garlinghouse insists that XRP is not a security even by U.S. standards." - (CryptoBriefing) So XRP is unlikely to be called a security now but the continued scam selling completed by the CEOs is probably now the issue as this isn't allowed with stocks/securities, but this is a crypto not a stock or a security so it's still up in the air However chart looks pretty good to me This downside move looks very forced, with SL hunts taking place below 2019 High If this is a short lived move it will be classed as a deviation from the top range which is above the 2019 high If so a breakout play from a descending triangle looks likely with a push back to 0.62 on the cards However we need BTC strength/ranging for this which is skeptical. It seems people are rotating into BTC out of alts, BTC dominance up, but BTC price isn't rising with it which got me a bit spooked XRP plays from the SL hunt levels could be very nice if we get BTC strength!
@alihd1984, yeah fair enough, neither really but if the chart looks good i'll get involved. I think the CEO's must of scam dumped this cuz it looked good to go try 0.61- 0.62 again but has took a downturn. Frustrating
TradingTimer63
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Lots of predictions on BTC falling low if big players don't come in soon
InvestmentsHub
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@abiraj05, yh which would wreck my XRP bags and this play unfortunately. DXY looks like it might give a few weeks uptrend, and 50K is big resistance right now which makes me a bit spooked. Need APPLE to get buying eh. Seems rotation into BTC is happening as BTC dominance is increasing but we are still very sideways highlighting 50K is a big psycho lol. I wouldn't say 'low' though, im looking 39-41K it were to be a pretty sizeable correction!
TradingTimer63
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@InvestmentsHub, People are predicting lower than this but should matter with XRP, I think once the lawsuit is done and they're back in the exchanges it will just blow up - had a lot of confidence ( possibly more than ETH) before the lawsuit
InvestmentsHub
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@abiraj05, oh yh for sure its extremely solid fundamentally, nice push overnight after another SL hunt and BTC strength!