XRPUSD (Ripple) – Week 8 – Trial week ahead
In a new complaint filed on February 18, the United States Securities and Exchange Commission has alleged that Ripple Labs executives Bradley Garlinghouse and Christian Larsen manipulated the XRP price by ramping up or slowing down their coin sales depending upon market conditions. The filing alleges that Larsen and Garlinghouse then profited to the tune of $600 million from their unregistered sales of XRP, as Garlinghouse repeatedly affirmed that he was “very long” on XRP, misleading investors.
Last week we predicted that the price would fall to the blue trendline and it did. Then, the price started a slowly ascending move that it seems it will go and at least touch the resistance zone at $0,65. However, since on Monday the 22th of February we have important news, it can go both ways as there are no technical clues that would give us a strong bias to the up or down. We advise extra caution.
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.
Last week we predicted that the price would fall to the blue trendline and it did. Then, the price started a slowly ascending move that it seems it will go and at least touch the resistance zone at $0,65. However, since on Monday the 22th of February we have important news, it can go both ways as there are no technical clues that would give us a strong bias to the up or down. We advise extra caution.
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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