XRPUSD (Ripple) – Week 20 – Waiting for the next move up
The next hearing between the Securities and Exchange Commission (SEC) and Ripple will be held next Friday on May 21. During the hearing, the SEC will likely look to gain access to certain legal documents in Ripple’s possession that details the legal advice the fintech firm received in the past for XRP.
In the last week, Ripple sent 10 million XRP tokens to RL43-EE, one of its backup wallets. Internal use and maintenance costs are two possible objectives. Another Ripple wallet, RL18-VN is used for sending XRP from Ripple to digital exchanges.
Technically, XRP is in a big sideways move that started with the down wave in the middle of April. Looking at the 4h timeframe we see a slow down move that has the potential to reach the support area at $0,95 USD before going higher. However, we would not be surprised to see the price rising from here because the down move is very corrective.
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.
🌍 Website: https://www.finflagship.com/
👉 Youtube Channel: https://www.youtube.com/channel/UCCuNa5RtvO5L0XibdSOBz8Q/featured
In the last week, Ripple sent 10 million XRP tokens to RL43-EE, one of its backup wallets. Internal use and maintenance costs are two possible objectives. Another Ripple wallet, RL18-VN is used for sending XRP from Ripple to digital exchanges.
Technically, XRP is in a big sideways move that started with the down wave in the middle of April. Looking at the 4h timeframe we see a slow down move that has the potential to reach the support area at $0,95 USD before going higher. However, we would not be surprised to see the price rising from here because the down move is very corrective.
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.
🌍 Website: https://www.finflagship.com/
👉 Youtube Channel: https://www.youtube.com/channel/UCCuNa5RtvO5L0XibdSOBz8Q/featured
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