UK Treasury has came out and said that XRP is not a security and it came under another brand of asset, 'unregulated tokens'
"In December 2020, the U.S. regulator filed a lawsuit against Ripple, which alleges that its ongoing XRP token sales constitute an unregistered securities offering worth $1.38 billion."
"Meanwhile, Ripple CEO Brad Garlinghouse insists that XRP is not a security even by U.S. standards." - (CryptoBriefing)
So XRP is unlikely to be called a security now but the continued scam selling completed by the CEOs is probably now the issue as this isn't allowed with stocks/securities, but this is a crypto not a stock or a security so it's still up in the air
However chart looks pretty good to me
This downside move looks very forced, with SL hunts taking place below 2019 High
If this is a short lived move it will be classed as a deviation from the top range which is above the 2019 high
If so a breakout play from a descending triangle looks likely with a push back to 0.62 on the cards
However we need BTC strength/ranging for this which is skeptical. It seems people are rotating into BTC out of alts, BTC dominance up, but BTC price isn't rising with it which got me a bit spooked
XRP plays from the SL hunt levels could be very nice if we get BTC strength!
"In December 2020, the U.S. regulator filed a lawsuit against Ripple, which alleges that its ongoing XRP token sales constitute an unregistered securities offering worth $1.38 billion."
"Meanwhile, Ripple CEO Brad Garlinghouse insists that XRP is not a security even by U.S. standards." - (CryptoBriefing)
So XRP is unlikely to be called a security now but the continued scam selling completed by the CEOs is probably now the issue as this isn't allowed with stocks/securities, but this is a crypto not a stock or a security so it's still up in the air
However chart looks pretty good to me
This downside move looks very forced, with SL hunts taking place below 2019 High
If this is a short lived move it will be classed as a deviation from the top range which is above the 2019 high
If so a breakout play from a descending triangle looks likely with a push back to 0.62 on the cards
However we need BTC strength/ranging for this which is skeptical. It seems people are rotating into BTC out of alts, BTC dominance up, but BTC price isn't rising with it which got me a bit spooked
XRP plays from the SL hunt levels could be very nice if we get BTC strength!