XRPUSD (Ripple) – Week 23 – Indecision
Billionaire Mark Cuban has joined a choir of critics of the U.S. Securities and Exchange Commission (SEC) in his recent tweet. The "Shark Tank" host has slammed former SEC attorney John Reed Stark for having "absolutely no understanding of crypto." Cuban says that crypto will continue to positively impact businesses more than the regulator.
Ripple cofounder Jed MacCaleb sold his XRP in weekly increments of 10.2 million, 10 million, 13.4 million, and 17.3 million in May. He has been selling XRP by 16,353,884 coins every transfer from June. In fiat USD, the total value of the XRP sold is $430 million.
Technically, the 4h structure that XRP is making is one that has a higher probability of continuation to the downside rather than a reversal. We have a higher conviction for a move down although we are not excluding a touch of the resistance area at $1.30. We advise caution on this pair.
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 cofounder Jed MacCaleb sold his XRP in weekly increments of 10.2 million, 10 million, 13.4 million, and 17.3 million in May. He has been selling XRP by 16,353,884 coins every transfer from June. In fiat USD, the total value of the XRP sold is $430 million.
Technically, the 4h structure that XRP is making is one that has a higher probability of continuation to the downside rather than a reversal. We have a higher conviction for a move down although we are not excluding a touch of the resistance area at $1.30. We advise caution on this pair.
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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