MGI under sell pressure from fundamental execution, in an extremely competitive market with shrinking money flows due to global economic fundamentals, has retraced practically all of parabolic run of June...
although, even after massive drop, it currently is respecting the .786 Fib retracement level, which is roughly @ 2.50: this being a round number can help and play as psychological support.
MGI needs consolidation here at this technical level, or an impulse out of it, to begin new run ... this level of support is strong stretching back to 2018. saying that, with fundamentals ultimately ruling, there are things that MGI can surprise on that will impact bottom line, such as the impact of utilizing Ripple's ODL ( On Demand Liquidity ) XRP solution, not only to cut and improve operational costs, but to eventually allow them to shore up cash in dormant, international Nostro/ Vostro accounts required for compliance by international regulations for antimoney laundering laws: clear advantages can be seen with this fresh capital not only for shoring up ammo for balance sheet, but now being fully accessible for investments and reinvestments to directly impact bottom line and future projections.
Ripple's direct capital injection of 30+million and investment into MGI through spoken commitment, where Ripple themselves benefit from various factors, giving XRP not just active global use, but MGI being a gateway for cryptocurrency use internationally by Banks under regulatory limitations,
makes MGI a very GOOD risk play for a ridiculous payoff.
although, even after massive drop, it currently is respecting the .786 Fib retracement level, which is roughly @ 2.50: this being a round number can help and play as psychological support.
MGI needs consolidation here at this technical level, or an impulse out of it, to begin new run ... this level of support is strong stretching back to 2018. saying that, with fundamentals ultimately ruling, there are things that MGI can surprise on that will impact bottom line, such as the impact of utilizing Ripple's ODL ( On Demand Liquidity ) XRP solution, not only to cut and improve operational costs, but to eventually allow them to shore up cash in dormant, international Nostro/ Vostro accounts required for compliance by international regulations for antimoney laundering laws: clear advantages can be seen with this fresh capital not only for shoring up ammo for balance sheet, but now being fully accessible for investments and reinvestments to directly impact bottom line and future projections.
Ripple's direct capital injection of 30+million and investment into MGI through spoken commitment, where Ripple themselves benefit from various factors, giving XRP not just active global use, but MGI being a gateway for cryptocurrency use internationally by Banks under regulatory limitations,
makes MGI a very GOOD risk play for a ridiculous payoff.