Brad Garlinghouse expressed: Chair Gensler insisted (again) in today’s testimony that the securities laws are clear and easily understandable for the crypto market and then turned around and said Congress needs to write laws to clarify. So which one is it?
Thank you Sen Toomey for being a voice of reason.
Stuart Alderoty expressed: Some (UK, Singapore, Japan, etc) have clear frameworks for innovation to flourish w/ consumer & market protection, others with sandboxes for safe collaboration between innovators & regulators. How did the US end up with secret regulatory inquisitions?
Community response: Regulators are attacking the crypto industry as a whole. Ripple was a prime example when it happened initially. First XRP, then Binance and Coinbase and now the Celsius Network. Nothing will stop the SEC and is not about our protection.
In Australia all cryptos are classed as assets. Pretty simple. Tax laws regards CGT are clear and easy to understand. None of the bullshit about securities. US is toxic to crypto and I don’t why any crypto would want to be based there.
It’s called China and Wall Street. The corruption of our government runs so bloody deep. Just think, the stock market is just as corrupt and the Fed prints massive debt yet taxes still are paid except by the wealthy and politicians.
Anyone else agree that there will be a new regulatory body to regulate the crypto currency markets? Clearly the SEC is incapable of this task.
Goldman Sachs and JP Morgan want to set up a Bitcoin/Ethereum duopoly and let their puppet agency SECGov control every other crypto project on the planet with the “muh securities” crap. FACT.
The SEC is nothing more than the mafia-like enforcement arm of old-tech banks who corruptly line the pockets of appointed SEC chiefs. Their out-of-date “regulations” from 90 years ago are kept vague by design, so the SEC can rig the market via uninterpretable lawsuits.
SEC is corrupted institution backed by some actors in US Congress. They are blatantly harming the Crypto industry and innovation and affecting thousands of retail investors not just in US but also overseas.
We are like a third world country! Goodbye innovation! Congress needs to step up and put the SEC back in their own lane.
Because Congress let’s them run wild with no one to keep them in check. Now they fell they do anything the want. And technically they can because Congress gets their kick back too, so they stay quiet.
I hope the Judge can read between the lines and see this SEC department cannot be at the helm any longer plowing through and distorting the 4th industrial revolution. The SEC is a threat to the people and the US.
XRP explodes more than 44% from flash crash lows, move to $2 upcoming
- XRP price was annihilated during the Saturday flash-crash.
- Massive recovery post-sell-off is likely a sign of reversing fortunes for XRP.
- Follow through by bulls necessary to regain momentum higher.
XRP price action was sitting on the precipice of an impending flash-crash long before Saturday’s sell-off occurred. The price levels XRP hit for the lows were expected as well. A new uptrend for XRP is likely to start next week.
XRP price collapsed from $0.92 to $0.57 but managed to close at $0.85
XRP price is positioned for a massive rally post-flash-crash. The daily and weekly candlesticks have likely developed one of the most substantial bear traps in XRP’s history. FOMO will be piling into this cryptocurrency very soon, especially if XRP returns to the $1.00 value area.
Because XRP has already triggered the price levels previously forecasted, the move has been made, and XRP can begin its next leg higher. To do that, XRP price must first close at or above the daily Kijun-Sen at $0.98. To achieve an undeniable bullish breakout, XRP needs a daily close at $1.21. If $1.21 is reached, the projected target range is the $2.00 value area, followed by the $3.35 price level.
XRP/USDT Daily Ichimoku Chart
However, downside risks remain. XRP has the cloud of Ripple’s SEC debacle hanging over it, and any hints of continued uncertainty or a negative outlook for Ripple may weigh heavily on how XRP trades. The downside risk for XRP price is the 2021 Volume Point Of Control at $0.45.
Ripple’s XRP Price Prediction in 2022 Based on a Crypto Analyst Report
Ripple (XRP) is one of the oldest coins in the crypto space with the most insane rumors going around according to the crypto analyst, Michaël van de Poppe. He says he believes XRP will definitely have a big run as it did back in 2017.
He adds that XRP does not want to be just a payment system, it is building its own smart contract with a goal to create side chains and NFTs. He says that as the Ripple-SEC lawsuit is still in progress, he is very much interested to know what the outcome will be.
He adds that he expects the lawsuit to come to an end in no time and if eventually it does, it could trigger the market to start hitting up again. Although, there are possibilities that it will not.
Michaël explains that the SEC lawsuit against Ripple was a result of price manipulation on the side of Ripple and insider trading. He affirms that XRP has made many millionaires back when it had a big run back in 2013, and another explosive between 2014 to 2015. But since 2017, it has not been doing too much except for fights on social media, criticism, negativity, and toxicity.
As per Ripple’s price action, Michaël says that the XRP market has been correcting for the past 4 years and it is facing a potential breakout once again. He continues that any reasonable target for XRP to rise in the market if a bull circle ensues will shoot up the price up to $2.87 and $4.33.
With this said, despite the current bear position of XRP in the past few days, some traders are still affirmative about a bull happening soon. At press time, XRP is up 6.83% and 0.8317 in the last 24 hours.
Ripple Price Analysis: XRP finds resistance at $0.85, a test of downside to follow?
- Ripple price analysis is bearish today.
- XRP/USD recovered 44 percent from the previous low.
- Resistance was found at $0.85 overnight.
Ripple price analysis is bearish today as we expect another test of downside to follow after a strong retracement to $0.85. Since XRP/USD has formed consolidation overnight, we expect bulls to be exhausted, leading to another move lower later today.
The overall market traded in the green over the last 24 hours as the market recovered from the strong selloff on Friday. The market leader, Bitcoin, gained 3.53 percent, while Ethereum 6.85 percent. Terra (LUNA) is the top performer, with a gain of almost 40 percent.
Ripple price movement in the last 24 hours: Ripple recovers to $0.85, starts to consolidate
XRP/USD traded in a range of $0.7545 – $0.8638, indicating strong volatility over the last 24 hours. Trading volume has declined by 37 percent, totaling $3.78 billion, while the total market cap trades around $38.74 billion, ranking the coin in 8th place.
XRP/USD 4-hour chart: XRP looks to test downside today?
On the 4-hour chart, we can see the $0.85 mark preventing further upside over the past hours, likely leading to a retest of downside later today.
Ripple price has seen a steady decline over the last weeks. From the previous major swing high at $1.35, XRP/USD has retraced over 55 percent to the $0.59 low, indicating that we might see a major reversal soon.
However, for now, the overall market structure is still bearish as we saw a strong drop lower on Friday. Support at $0.59 offered strong support, leading to a quick rejection higher Yesterday.
The Ripple price action found resistance at $0.85 as it recovered over 40 percent by the end of the day. Overnight, XRP/USD consolidated, indicating we should see a reversal back to the downside later today.
Ripple Price Analysis: Conclusion
Ripple price analysis is bearish today as we saw the $0.85 slow down the recovery. Therefore, XRP/USD is likely ready to test downside again, likely leading to a higher low set.
While waiting for Ripple to move further, see our articles on the Best Crypto Wallet 2021, Decred Wallet, and Ripple vs SEC.