Depends on SEC news, but I'm bullish, I believe people will be stockpiling XRP before the pre-trial with SEC on 22nd February 2021.
Depending on the news, it will be a likely pivot point as to where the future price ends up, the technicals look to be bullish, with a rounding base-line support curve on the monthly time-scale, showing general price stability over time, more people adopting XRP as a bullish bet for the future.
XLM (Stellar Lumens) follows similarly, but has higher support-lines, due to not having such severe bearish fundamental news + media coverage, unlike XRP's SEC situation.
Also, if you screen XRP, XLM and BTC all on the same chart, there is clear correlation.
This correlation has broken in the last few days, due to XRP's negative SEC news, attaching added bearish sentiment to the general overview of XRP.
Should this SEC news, or any other macroeconomic factors that provide bullish sentiment for XRP, take place, I predict that there will also be a large correction of BTC taking place, as I believe it will hit $30-36k per bitcoin, and begin a correction phase, whereby the masses begin to take profits, along with short-sellers flooding the market, to take over (bears 🐻) a temporarily unsustainable structure.
This could, in-turn, appear to some people, as BTC crashing, bringing more potential cash-flow into XRP net-long positions,
increasing the price a tad.
That being said, only Banks and Institutions, actually move markets.
Those who think XRP becoming a security is a bad thing, try thinking from this perspective.
If a financial instrument becomes more legitimised and "proper", it has a greater likelihood of being adopted by larger banks, institutions and general financial behemoths of industry.
Depending on the news, it will be a likely pivot point as to where the future price ends up, the technicals look to be bullish, with a rounding base-line support curve on the monthly time-scale, showing general price stability over time, more people adopting XRP as a bullish bet for the future.
XLM (Stellar Lumens) follows similarly, but has higher support-lines, due to not having such severe bearish fundamental news + media coverage, unlike XRP's SEC situation.
Also, if you screen XRP, XLM and BTC all on the same chart, there is clear correlation.
This correlation has broken in the last few days, due to XRP's negative SEC news, attaching added bearish sentiment to the general overview of XRP.
Should this SEC news, or any other macroeconomic factors that provide bullish sentiment for XRP, take place, I predict that there will also be a large correction of BTC taking place, as I believe it will hit $30-36k per bitcoin, and begin a correction phase, whereby the masses begin to take profits, along with short-sellers flooding the market, to take over (bears 🐻) a temporarily unsustainable structure.
This could, in-turn, appear to some people, as BTC crashing, bringing more potential cash-flow into XRP net-long positions,
increasing the price a tad.
That being said, only Banks and Institutions, actually move markets.
Those who think XRP becoming a security is a bad thing, try thinking from this perspective.
If a financial instrument becomes more legitimised and "proper", it has a greater likelihood of being adopted by larger banks, institutions and general financial behemoths of industry.