XRPUSD (Ripple) – Week 32 – Going for the resistance area
Ripple Labs, a San Francisco-based payments technology business, continues to seek outward for opportunities in other industries and on other coasts while the SEC v. Ripple Labs litigation grinds on in US courts. In its latest business expansion, Ripple is looking to bring non-fungible tokens to the XRP Ledger as it seeks to tap into the lucrative and growing NFT market as well as expand its On-Demand Liquidity (ODL) payments business around the world.
Ripple's CEO has been granted access to Binance's XRP transaction documents. Brad Garlinghouse's petition to get records from Binance was approved by Sarah Netburn, the presiding judge in Ripple's continuing dispute with the Securities and Exchange Commission. Last week, the legal team representing Garlinghouse filed a motion requesting data on XRP sales from Binance, the largest cryptocurrency exchange by trading volume.
Technically, after a small pullback that reached the $0,69 level this week, we see that the price is continuing to the upside. For this pair we give a higher probability for a continuation to the upside (with or without a pullback). If the price makes a sharp pullback breaking the red support zone marked on the chart, we must be cautious and study the price action patterns before entering a trade.
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.
Ripple's CEO has been granted access to Binance's XRP transaction documents. Brad Garlinghouse's petition to get records from Binance was approved by Sarah Netburn, the presiding judge in Ripple's continuing dispute with the Securities and Exchange Commission. Last week, the legal team representing Garlinghouse filed a motion requesting data on XRP sales from Binance, the largest cryptocurrency exchange by trading volume.
Technically, after a small pullback that reached the $0,69 level this week, we see that the price is continuing to the upside. For this pair we give a higher probability for a continuation to the upside (with or without a pullback). If the price makes a sharp pullback breaking the red support zone marked on the chart, we must be cautious and study the price action patterns before entering a trade.
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.
