SUMMARY: Bullish but proceed with caution - SEC court case still in progress
-- Technical --
After a surge to almost $2, XRP has fallen back to consolidate around the $1.50 mark.
There could be a retest $1 support or even the $0.80 depending if there was a sharper correction in the overall crypto market.
-- Fundamentals --
The the thing to watch out for is the SEC court case against Ripple; the SEC has accused Ripple of breaking securities laws with its ICO and, *if found guilty, could lead to permanent delisting from US exchanges.
If an earlier settlement is established we could see XRP's price action surge to higher FIB levels, especially the previous ATH being broken.
*It could be a death blow in this bull run and start bear cycle back down to $0.20 levels.
On the tech side, one of the most solid blockchain protocols out there.
$$$ Happy Bull Market Alts season is here $$$
Please HIT the --->>> "LIKE" and "FOLLOW" button. <<<----
*Not financial advice and is for educational purposes only. Always DYOR.
Got questions? Shoot.
-- Technical --
After a surge to almost $2, XRP has fallen back to consolidate around the $1.50 mark.
There could be a retest $1 support or even the $0.80 depending if there was a sharper correction in the overall crypto market.
-- Fundamentals --
The the thing to watch out for is the SEC court case against Ripple; the SEC has accused Ripple of breaking securities laws with its ICO and, *if found guilty, could lead to permanent delisting from US exchanges.
If an earlier settlement is established we could see XRP's price action surge to higher FIB levels, especially the previous ATH being broken.
*It could be a death blow in this bull run and start bear cycle back down to $0.20 levels.
On the tech side, one of the most solid blockchain protocols out there.
$$$ Happy Bull Market Alts season is here $$$
Please HIT the --->>> "LIKE" and "FOLLOW" button. <<<----
*Not financial advice and is for educational purposes only. Always DYOR.
Got questions? Shoot.
It has a negative correlation to the market.
When the market rebounds, we could see XRP break $2 this week or so.