Like all markets, xrp is experiencing a bear market.
However, good growth with positive trading and positive fundamental news.
Will we see it break out of current formation to the upside or back down to the support levels.
15m chart shows downturn.
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The price has been ranging inside this triangle for a few days. If it is able to move out of this bullish triangle, it can touch higher prices and enter its uptrend.
But if it is not able to go out of the triangle, there is the possibility of it ranging there or falling.
. There is a possibility of temporary retracement to suggested support line (0.543). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. XRPUSDT is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
The XRP / USDT pair looks like it is forming a expanding diagonal.
The target for the 4th wave is in the darker Red triangle section, where it has to dip back into the wave 1 territory.
The Wave 5 target is significantly higher close to the $2 mark.
This is likely either a C wave or the start of a new impulse on the macro degree.
I suspect this dip for wave 4 will...
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...