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Latest news from Ripple
From recent events, the US SEC is very vigilant and "hunting". Days after news that the regulator had settled with Floyd Mayweather and DJ Khalid for promoting a security token, the regulator tried to issue a preliminary injunction against Blockvest.
To read: The FBI arrests the CEO of AriseBank for $ 4 million of cryptos related to cryptography
However, their efforts were thwarted by a judge in San Diego, Gonzalo Curiel, who ruled after a series of hearings and supporting documentation of both the Blockvest and SEC coins, who tried to freeze assets and showed that Blockvest sold investment contracts and lying to investors who had the SEC's approval while illegally using the CTFC and the National Futures Association (NFA) logos and seal – the latter did not provide convincing evidence to indict Blockvest .
Wait, no, the court denies the preliminary injunction in SEC against Blockvest. He says that BLV tokens were not b / f based titles. Reading of opinions. More to follow. pic.twitter.com/sLlF62KfOY
– Palley (@stephendpalley) November 28, 2018
Well, this is especially important for XRP investors. Remember, in 2015 Ripple Labs was fined $ 450,000 for the sale of XRP without registering with FinCEN and for not applying the KYC rules. Again, Ripple, despite their attempts to implement a decentralization strategy, still holds a majority of XRPs.
Read also: The UK FCA investigates 50 companies suspected of unauthorized encryption
So, it does not matter whether the plaintiff expects compensation or not, it all depends on how the judge interprets the Howey test and whether investors "expected profits" for their "investment".
FinCEN has already signed an agreement with Ripple Inc. that allows them to continue XRP sales. If XRP is a security without a license, FinCEN now has to explain why they signed an agreement that allows the sale of such licenses without a license. Never gonna happen. XRP is not a security
– Richard Holland ⚡️ (@codetsunami) June 17, 2018
If it turns out that Ripple and Brad Garlinghouse have sold XRP urging investors to expect profits, then the SEC will not hesitate to swing the hammer, breaking hopes and dreams in the process.
XRP / USD price analysis
Weekly chart
Secondly, XRP / USD is nothing short of constant. Even if we maintain a bullish prospect while waiting for prices to drop and reach 80 cents, the week ending November 25 could pour cold water on our forecast.
This is so because for conservative traders to load then we must see satisfactory earnings above 40 cents and after 60 cents, marking the highs of October and November. Before then, bears have a technical check. Moreover, the more the prices gravitate towards 35 cents, the greater the chances of a break below 25 cents or lows of 2018.
From the XRP / USD candelabra agreements, we expect bulls to reign as long as prices exceed 35 cents, the lower limit of our support zone.
Daily chart
In this time frame it is clear that buyers are responsible and 35 cents is an important level of support. We can see all this because of the failure of bears to break below it despite numerous attempts. In addition, the XRP / USD price action is still trending in the high-volume pin bar on 25 November.
Now, since we are on the upside on XRP despite the recent lower lows, we will consider every minimum purchase opportunity but, ideally, for the guarantee, we must see gains above 40 cents or the Fibonacci retracement level of 61.8% of Sep high bass.
Once prices explode above this level, our first bull target will be 60 cents and later 80 cents in line with our previous XRP / USD business plans.
All graphics courtesy of Trading View
Disclaimer: The opinions and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
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