XRPUSD (Ripple) – Week 12 – Messy middle
Ripple's chief technology officer, David Schwartz, says the company is looking at adding non-fungible tokens (NFTs) to the XRP Ledger. In a recent interview with Thinking Crypto, Schwartz mentions that two specific ideas about NFTs and the role they occupy in the modern world have piqued his curiosity.
Last week, the Securities and Exchange Commission (SEC) filed a petition with the Court, requesting personal financial records from both Ripple co-founder Chris Larsen and CEO Brad Garlinghouse. Following the request, both Ripple Execs sought to block the SEC's six subpoenas to six banks, claiming that the request was a "wholly unreasonable overreach" given that the complaint did not include any allegations of fraud.
Technically, XRP is still in a low volatility range compared with its other historical moves. The higher probability move is to the upside, to reach at least the resistance area at $0,65 per XRP. However, a move down to the support area or the grey trendline must not be ruled out. XRP can stay a lot of time in this range that started in February so, we advise caution and taking it piece by piece.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Last week, the Securities and Exchange Commission (SEC) filed a petition with the Court, requesting personal financial records from both Ripple co-founder Chris Larsen and CEO Brad Garlinghouse. Following the request, both Ripple Execs sought to block the SEC's six subpoenas to six banks, claiming that the request was a "wholly unreasonable overreach" given that the complaint did not include any allegations of fraud.
Technically, XRP is still in a low volatility range compared with its other historical moves. The higher probability move is to the upside, to reach at least the resistance area at $0,65 per XRP. However, a move down to the support area or the grey trendline must not be ruled out. XRP can stay a lot of time in this range that started in February so, we advise caution and taking it piece by piece.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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