YEARS OF BEARISH ACTIONS FINALLY BREAKING THROUGH
It has been a long 3 months since the announcement of the SEC sueing Ripple. Later on CEO Brad Garlinghouse as well as chairman Chris Larsen was added individually . That caused the chain of events that has tumbled XRP prices to crazy low values. Followed by the delisting or suspension (in the case of coinbase) Ultimately bring about a massive drop in price .
With many believing XRP is finished and dead in its tracks .
Prices as from 18 /12/2020
18th Dec xrp price @ + - $0.60
23rd Dec xrp price @ + - $0.20
01st Feb xrp price @ + - $0,18
17th Feb xrp price @ $0,75
18th Feb xrp price @ + - $0.40
5th Apr xrp price @ $0.75
6th Apr xrp price @ $1.09
7th Apr xrp price @ $0.90
This drop of price however was short lived with the xrp community not paying attention to the SEC lawsuit, continued to buy and promote the currency and boy how they did .Xrp community is the most supportive investors in the whole Crypto market.
EARLY LEGAL VICTORY
Yesterday Ripple won motion that orders all documents and emails sent to SEC staff and exchanges where the SEC has stated XRP as a currency and not a security. The implications of this motion is wonderfully explained by Jeremy Hogan on his YouTube channel Legal Briefs .
I've added his video . Jeremy Hogan is a lawyer who is still new in the Crypto sphere , that being said he is an amazing person who has been breaking down this lawsuit for us normal folks in such a great and exciting way. He has in a short time become a well known and respected member of the Crypto space . Have a look at his channel the man is a genius.
BIG CORRECTION AROUND THE CORNER
Looking at the xrp lift off purely for a technical point of view it is technically shown that xrp is overvalued and the pull back from the jump is on its way . That being said 40% is big for one day but it is not that big of a thing in the long term and this brings to mind that the correction we expecting could be minor and probably what we have been seeing in todays price movement. It is not a big factor in the long term price just like the delisting and lawsuit only had an short term affect on the price . The fact is the once the price settles down the bulls will rally the price and push for the $1.35 levels.
Personally I have noticed that there is a support that has formed at the $0.90 level with a thong resistance starting close to $0.93750 level .
THE GREENER ECO-FRIENDLY BLOCKCHAIN
Ripple is committed to be the front runner in having a decarbonized blockchain . They have worked with Rocky mountain foundation as wel as energy web foundation. Together they developed a open-source tool for any blockchain company to utilize in the achievement of a decarbonized Crypto industry. Xrp is the most eco-friendly Blockchain available today .
THE TIME IS NOW .IT IS NEVER TO LATE TO INVEST IN BLOCKCHAIN
Xrp community is the most supporting, most passionate,oat in your face when the price is up and the haters are deadly silent . I'm short they are the best community on the Crypto sphere .
What do you think the price is going to do ?
What will happen after the lawsuit and relisting of xrp ?
Leave your comments below
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