✴️ Weekly XRP Reveals What Is Truly Happening (Quick & Simple)

I will keep this one quick and simple as we look into XRPUSDT on the weekly/long-term timeframe.

We can see a rising channel which is nothing new for us, this has been going for more than a year.

The current session is what is most relevant right now.

We have a very strong flash crash with a very long lower wick.
This lower wick tells us everything we need to know.

Bear pressure came in strong but the bulls showed up and bought everything back.

Right now the current session trades above EMA200, MA200, EMA50 and EMA100. This is bullish.

The session closes in 4 hours from now.

Closing above these level would be a positive signal and we can easily say that the correction is over even though it is wise to wait for 1-2 additional sessions (weeks) for full confirmation.

On the other hand, if prices move and close below 0.4807, that would be really bad.

Since the SEC just came out saying that they understand the ruling where Ripple won and XRP is not a security, this can cause hype for this market, bullish hype.

As I read it they said they get it but need clarification, which is a polite way of saying that they still want to fight the results but not be seen as going against the court.

This is all good.
Ripple will win again and this will give further strength to the Cryptocurrency market. Remember I predicted about a hundred times that Ripple would win.

XRP is back at this situation we had before.
If you see XRP bullish, you can expect the entire market to follow suit and grow.

If XRP becomes weak, it can be taken as a signal that things will be bleak.

As with Bitcoin Cash, the first target for XRP has been exhausted, which is the peak reach matching the levels met back in April 2022.

We don't know how things will go next, but I am hoping for a new bullish wave before the major long drawn out correction takes place.

The blue levels on the chart are for support.
Above support = strongly bullish.
Below support = bear market.

Namaste.