XRP looks like after its brief consolidation period it is set to make another leg higher.
The bulls begin to knock the table as Ripples XRP starts to look very good techniques and fundamentals.
Last week we saw a lot of XRP action as price ultimately broke out above certain key levels of resistance, including $1.00 before we reached $1.50 and then pulled backwards. However, we have seen twice now that each of these sweaters consolidates and starts to form extremely bullish techniques.
We now have a possible retest of the highs of approximately $1.50 and a higher leg.
Basically, the SEC case and the major exchanges (i.e., Coinabse) that stop trading because of the case are the only things that hold this train. We have heard recently that the SEC is still losing ground and I think this is just a matter of time before it is decided.
On the flip side, it is unclear how this could affect the rest of the industry if the SEC comes to an agreement with Ripple. In fact, XRP would be somewhat regulated, but not all else. This may therefore in essence be the first case for the SEC, but the whole sector will wave. Interestingly enough, Gary Gensler will soon be sworn in.
For now we are watching the techniques and if these levels are taken, for me the next target clearly is $2.00 in the next round. Note that we also have this week the Coinbase list, which only adds fuel to the fire.
I think this is just the very start of the XRP Bull Run. What they can do and solve is a huge problem. Ulitmate utility. Ulitmate utilities.
