Greatest question for XRP investors
(SHOULD WE PREPARE FOR XRP BULL RUN AHEAD OF COURT RULLING BETWEEN XRP AND SEC)
Much like the rest of the cryptocurrency market, XRP has been going through stagnation in terms of its price, consolidating the gains it received after a partial victory in the legal standoff between Ripple and the United States Securities and Exchange Commission (SEC) that is yet to see its conclusion. Indeed, the heavy impulse following the news led XRP to the same levels as 470 days before (May 2022) and allowed holders to sell their bags, but the lack of interest in the markets has made investors conservative, according to the observations by crypto trading analyst Michaël van de Poppe shared on August 15. XRP price action analysis. Source: Michaël van de Poppe Specifically, van de Poppe argues that this is the reason behind relatively significant corrections in comparison to the shallow corrections in bull cycles, and they represent the moment to “investigate higher timeframes and scan for those ‘obvious’ opportunities,” which are “in line with the period where investors start to lose faith again.” Furthermore, he believes that the area at around $0.55 represents a retes hit on a weekly timeframe for the XRP token and could serve as a basis for a possible “new impulse move,” as well as the price level at which to take entries for the coming cycle.
