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Cryptocurrencies Market Update ➡️ Solid ECN
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[QUOTE="SOLIDECN, post: 217205, member: 80239"] [HEADING=1][JUSTIFY]XRPUSD - The Pair is in a State of Uncertainty[/JUSTIFY][/HEADING] [JUSTIFY]Experts associate the downward correction, which is common for most digital assets, with the expectation of today's results of the US Federal Reserve meeting: the market is ready to soften the "hawkish" rhetoric, but investors are afraid to hear hints that the monetary policy tightening cycle will last a long time, so they remain calm and are in no hurry to buy risky assets. The growth of quotations is hindered by the uncertainty associated with the suit of the US Securities and Exchange Commission (SEC) against Ripple, the verdict on which should be issued soon: the agency accuses the company of issuing an unregistered security (XRP token) and illegally distributing it in the amount of 1.3B dollars. Separate claims concern the management of the corporation: the company's CEO, Brad Garlinghouse, and its co-founder Chris Larsen, who, according to officials, received 600.0M dollars from the sale of their own coins. Investors were alarmed by the appointment of Monica Long, who previously held the position of general manager, to the post of president of Ripple: analysts believe that the current management of the company allows the outcome of the trial to be negative for her and seeks to prevent chaos in management in the event of serious legal consequences for Garlinghouse and Larsen. [img]https://i.postimg.cc/3wgRr1xS/xrp.png[/img] Currently, the trading instrument is around the middle line of Bollinger bands. If it consolidates below it, as well as 0.3906 (Murrey level [8/8]), the decline may continue to 0.3662 (Murrey level [7/8]), 0.3418 (Murrey [6/8]). Consolidation above 0.4150 (Murrey level [+1/8]) will give rise to 0.4395 (Murrey level [+2/8], Fibonacci retracement 23.6%), 0.4750. [B]Resistance levels[/B]: 0.415, 0.4395, 0.475 | [B]Support levels[/B]: 0.3906, 0.3662, 0.3418[/JUSTIFY] [/QUOTE]
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