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.
Comment:
Well, I think this idea aged kinda well. In following weeks I expect growth over $1.