XRPUSD has been making low flights ever since the September 23 rejection on the 0.618 Fibonacci retracement level. More specifically, since the November 08 FTX crash, it has been trading below the 1D MA50 (blue trend-line), which had so far three rejections. At the moment it is below also the 1D MA200 (orange trend-line), with the two forming last Friday the first 1D Death Cross since December 30 2021.
Since the Bear Cycle started following the April 14 2021 Top and the formation of the (still unbroken) Lower Highs trend-line (Bear Cycle's Resistance), we've had another two Death Cross patterns, one that immediately initiated a strong rally (July 18 2021) and one facilitating a sell-off (December 30 2021). Since the price has been ranged between the 1D MA50 and the mid-June Support Zone (0.31450 - 0.28680) it is more likely that the Cross will empower the break-out that takes place first. A break above the 1D MA50 would target the (dashed) Inner Lower Highs trend-line and then the April 2021 one in extension, while a break below the June Support Zone would target the -0.236 Fibonacci extension (as on May 11 2022) if not lower (-0.382 Fib).
On the long-term we can only expect XRP to reverse into a bullish trend if it breaks above the 2021 Lower Highs and ideally the 0.618 Fibonacci level where it failed on September 23, thus making the first Higher High in more than 1.5 year.
XRP will continue on regardless of the outcome of the case, Europe seems to have adopted xrp much more so than the USA which will be left behind holding the bags of worthless highly devalued paper currency.
f4taL1ty
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Great
JoyBoyVegae
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The Feds reserve had bought all XRP
esorlegin
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One major factor is the court case. If Ripple and the FED come to some sort of agreement (Ripple pay a 'significant' fine) then the token will rocket.
WeAreSat0shi
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@esorlegin, Eos and paid a fine to the SEC. They were cleared to go on....
@esorlegin, I never said it wasn't. I meant waiting for the case results has never proven bullish, as per historical data over and over. That doesn't mean it won't be, it just hasn't before.
jdo85
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@WeAreSat0shi once in 2021 there was fake news that the case came to a end, the price pumped 30 cents in 15 minuts... here is your prove. also xrp wil be reslisted on many exchanges in the US = more trading volume... and the most important clarity for financial institutions and banks ( Ripple's target audience )
esorlegin
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@jdo85 correct. plus, as a utility, right now use in North America is very limited. Once the case is settled then Wall Street, industry and business will begin using XRP Ripple thus multiplying its uptake almost exponentially. if Ford, Coca-Cola, Wall Street start using g the service, then their suppliers and clients will also use it..... a snowball effect.