Connect with us

Ripple

XRP Is a Security, Says Veteran Trader Peter Brandt

Published

on

Peter Brandt wouldn’t shy away from trading XRP despite thinking that the cryptocurrency could be a security

Peter Brandt, a trader who has spent more than four decades navigating commodity markets, still holds the view that XRP is an unregistered security.

Advertisement

That being said, the regulatory uncertainty surrounding the Ripple-affiliated cryptocurrency wouldn’t prevent the veteran trader from owning it “under the right circumstances.”

Brandt, a long-time Ripple critic, famously urged the U.S. Securities and Exchange Commission to classify XRP as a security in less than two months before the actual lawsuit. He also accused the company of manipulating the price of the controversial cryptocurrency.

The SEC alleges that Ripple was able to net $1.38 billion through illegal XRP sales and used the proceeds for funding its business.

The securities watchdog also went after CEO Brad Garlinghouse and former CEO Chris Larsen. Garlinghouse, who once said that he was on the “HODL side,” made $150 million with his XRP sales while Larsen pocketed $450 million together with his wife.

In turn, the defendants claim that the SEC muddied the water with its scattershot approach to regulating cryptocurrencies. Ripple is pinning their hopes on the “fair notice” defense while pressing the agency to hand over documents about Bitcoin, Ether and XRP.

Despite the infamous speech of its former high-ranking official William Hinman, the SEC is yet to take a stance on the regulatory status of Ether.

Brandt doesn’t believe that Ether is a security because of its “entirely” different structure.

As reported by U.Today, sources within the SEC allegedly told Fox Business’s Charles Gasparino that Ether is a commodity because its ecosystem is already “built-out.”

Even though SEC Chair Gary Gensler told The New York Times that both Ether and XRP had to be classified as securities.

Advertisement

Ripple

Ripple (XRP) Liquidity Hub Digital Rights Management and A Cocktail of Innovations Brewing

Published

on

Ripple recently expressed:  ICYMI:  We announced plans to launch our Liquidity Hub in 2022 to help financial services firms offer their customers the ability to buy and sell.

Community Reaction: Can someone tell me the difference between a crypto exchange and the Liquidity Hub?

I believe the liquidity hub searches all the exchanged and gets the best prices for your spending. Like for example Expedia searching all the flight companies looking for the best price to fly somewhere.  This is like Fireblocks, but made by Ripple for member banks to be able to seamlessly custody crypto for their customers.  Liquidity hub will be used by financial companies not anyone like exchanges.

Advertisement

What does XRP mean in life? XRP makes no sense at all. Therefore, it should not exist in this market.

What is Ripple doing to solve the digital rights issue especially since they were late to NFTs? Might as well find a niche that they can tackle head on and be early this time.

Late for crappy JPEGs that I can copy paste without consequence. Super early for real-estate, real art, contracts, copyrights, etc.

Advertisement

What timeframe do you see this taking place? David Schwartz expressed: I think it mostly depends on whether anyone wants to champion it. Technology could gradually move in that direction but also someone could take up the torch and really drive it to market.

I find that interesting, with the advancements made in technology and how quickly technology advances you would think this would already be moving forward. Give it 3-5 years it will be on Ripplenet.

If XRP and ripple are ready for ISO 20022 compliancy/regulation does that mean everything being built on the XRPL/XUMM are also compliant to meet with regulations?

Advertisement

When Ripple Entertainment subsidiary?

Recently, Joel left a golden thread on rights.  Just wait a few months and wait for either Ripple to make it happen. Brilliant!

Digital Rights management for both the buyer and the seller is what is needed and I am sure there are solutions that can address this also from the XRPL and ALGO like OPUL and many others.

Advertisement

With airline tickets and concert tickets they have expiry dates on them so how will that work as semi fungible will they be considered as memorabilia or some sort.

Is it possible to create different levels of fungibles rather than creating new terms? For example Fungible-1 is money, crypto and gold. Fungible-4 are concert tickets and airplane tickets and Fungible-10 are non-fungible items.

We need to see stuff unfold with time.

Advertisement

News Source

Continue Reading

Bitcoin

Top 3 Price Prediction Bitcoin, Ethereum, XRP: Leading cryptos take the back seat

Published

on

  • Bitcoin price may experience constricted trading conditions as capital enters the broader altcoin market.
  • Ethereum price approaches new all-time highs.
  • XRP extends bullish momentum to the fourth consecutive daily close above the open.

Bitcoin price is likely to face some underperformance against Ethereum, XRP, and the broader altcoin market. Ethereum price action pushes higher during the Tuesday trading session, making another attempt at new all-time highs. XRP price is close to recovering all of the losses it sustained on Black Friday.

Bitcoin price action to consolidate in the interim

Bitcoin price is currently in a horrible place from a technical analysis perspective. It is in its twelfth consecutive day trading inside the Cloud. The Cloud (red and green shaded areas) within the Ichimoku Kinko Hyo system is an area of indecision, volatility and frustration. It’s the place where trading accounts go to die. Traders should expect to see sideways activity followed by false breakouts until a clear breakout above or below the Cloud.

BTC/USD Daily Ichimoku Chart

Altcoins should catch a bid throughout December, as Bitcoin trades mostly sideways. A trading range between $53,000 as support and $65,000 as resistance is expected. Any breakout above the Cloud will likely see Bitcoin push new all-time highs near the $77,000 value area.

Advertisement

Ethereum charges higher towards new all-time highs

Ethereum price has been somewhat of a surprise given the bearish sentiment and exiting the bear channel. Ethereum is currently just $200 shy of hitting the prior all-time high, showing resilience and outperformance of the broader cryptocurrency market. However, some warning signs should be observed.

ETH/USD Daily Ichimoku Chart

Ethereum is trading up against the upper trendline of a bear flag. At the same time, the Composite Index has printed a high above November 9th high while the corresponding price levels on those dates show lower highs. This creates a form of divergence known as hidden bearish divergence. It is a warning sign that the current swing higher may not be as honest of a move as it appears.

If Ethereum fails to close above the $4,600 value area on the daily chart, a pullback to $4,000 is likely.

Advertisement

XRP price up over 16% from Sunday lows, looks to extend higher

XRP price may be a barometer for how the rest of the altcoin market may behave in December. XRP’s daily Ichimoku chart forms a significant bear trap, which looks very similar to its peers’. Unlike Ethereum’s chart, which shows evidence of overbought conditions, XRP’s chart shows that a bullish extension is very likely to be sustained.

XRP’s behavior over the past two months has been one of epic frustration for bears. There have been nine occasions when XRP has fulfilled all the Ideal Bearish Ichimoku Breakout entry requirements. Unfortunately for the bears, all nine of those occasions have failed to generate any substantive or sustained selling pressure. This repeated failure has undoubtedly trapped a significant number of short-sellers – creating prime conditions for a short squeeze.

XRP/USDT Daily Ichimoku Chart

The critical price level for XRP to close above is the $1.15 value area. From there, XRP price would be positioned in a favorable bullish Ichimoku entry condition that positions XRP towards the $3.00 value area. Down-side risks remain limited to the $0.65 value area. 

Advertisement

News Source

Continue Reading

Ripple

Ripple Price Analysis: A Bullish Reversal From The $0.88 Support Hints At A 35% Gain In The Upcoming Trading Session

Published

on


The XRP coin is currently in a short-term sideways trend. The coin price has recently rejected from the overhead resistance of this range and has plunged back to the bottom support of 0.88. However, The technical chart and indicators suggest a positive turn for them coin

Key technical points:

  • The XRP coin price action forms a consolidation range in the daily chart.
  • The 200-day EMA line is providing constant dynamic strong support to the coin price.
  • The intraday trading volume of the XRP coin is $1.5 Billion, indicating a 70.25% gain.
TradingView Chart

Source- XRP/USD chart by Tradingview

The XRP coin price consolidates within a range as it resonates within the $1.40 and $.088 mark, as shown in the price chart. However, despite multiple breaches, the support zone near the $1 mark acts as a crucial support zone, and the breakout above it can be an excellent entry opportunity for traders.

Advertisement

The 200-day EMA coincides with the $1 support zone providing multiple factors to bring a bullish reversal. However, the price is below the 50-day EMA, which is falling to give a bearish crossover with the 200 days EMA. 

The Relative Strength Index(44) continues to move in a downtrend after facing rejection within the overbought zone. Nonetheless, the recovery in the slope from the oversold territory brings bullish indications.

XRP/USD Chart In The 4-hour Time Frame

Advertisement
TradingView Chart

Source- XRP/USD chart by Tradingview

The falling XRP prices show huge potential for a bull run as it breaks above the resistance trendline of the falling channel in the 4-hour chart. Hence, once the prices are stable above the $1 mark, we can observe the price jump to the $1.40 mark. 

However, traders need to be careful with the pivot points showcasing resistance levels at the $1.06 and $1.16 mark. Moreover, on the flip side, the support levels are at the $0.97 and $0.87 mark.

News Source

Advertisement
Continue Reading