XRP price influenced by Ripple labs news? I think not.
Dear XRP hodlers.
It's been a bumpy road until here. Since 2018 XRP lost more than 90% of its value, then showed a pulse of life and started falling again.
Lately the news are being echoed that Ripple Labs are being sued by SEC (U.S. Securities and Exchange Commission) and that this has a heavily negative impact on the price. I don't believe that the news have such a big impact on the price and this is why: during last two years there was a plethora of good news (bunch of banks and financial istitutions signing contrancts with Ripple labs) and all that XRP did during that was to dip a little.
So in my opinion news from cripto and financial world have little influence on XRP price. What did have an influence on its price, was a BTC price movement, since historically, when BTC had surpassed its all-time highs (ATH), so did XRP.
On the chart I've drawn how I see things right now. I see a pusle and a downward triangle. And the downward triangle logically ends with a price drop, and an accumulation period is expected. Which will eventually - in my opinion at least - end with aggressive growth. Since BTC surpassed its ATH, the same move is pending for XRP.
It's been a bumpy road until here. Since 2018 XRP lost more than 90% of its value, then showed a pulse of life and started falling again.
Lately the news are being echoed that Ripple Labs are being sued by SEC (U.S. Securities and Exchange Commission) and that this has a heavily negative impact on the price. I don't believe that the news have such a big impact on the price and this is why: during last two years there was a plethora of good news (bunch of banks and financial istitutions signing contrancts with Ripple labs) and all that XRP did during that was to dip a little.
So in my opinion news from cripto and financial world have little influence on XRP price. What did have an influence on its price, was a BTC price movement, since historically, when BTC had surpassed its all-time highs (ATH), so did XRP.
On the chart I've drawn how I see things right now. I see a pusle and a downward triangle. And the downward triangle logically ends with a price drop, and an accumulation period is expected. Which will eventually - in my opinion at least - end with aggressive growth. Since BTC surpassed its ATH, the same move is pending for XRP.
Note
Well, I think this idea aged kinda well. In following weeks I expect growth over $1.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.