XRP: Case Dropped + Exchange Additions Call
What was the case about:
The case was filed as it was claimed by the plaitnfif that XRP tokens were fully generated before even the distributed began, calling it a ‘never-ending ICO’.
He wanted remuneration or payment as a result of investing in XRP.
The case was dismissed as of yesterday:
XRP has been listed on Wirex, the first cryptocurrency exchange in the UK, to be awarded an E-Money license.
Wirex recently announced that they will start XRP trading, thereby allowing them to covert XRP to FIAT and to use with their Wirex card.
This allows more UK nationals to not only purchase XRP, but to trade it and purchase items within the UK using their Ripple.
Where do we see Ripple going?
XRP’s current weekly support is at 0.31167, if XRP can stay above 0.236 Fib line, which is 0.32055, this would illustrate a short-term bullish momentum, before retesting the local resistance of 0.382, that can be seen on the chart below. There are also enough volume gaps in that area to allow XRP to boast above it.
With the fundamental news that the Case against XRP is dropped, this allows all negative light to be casted away from them, thereby causing them to be able to re-start Marketing. This with Nouvive’s opinion that Bitcoin will turn short-term bullish again will allow XRP to surpass, not only the R2 or Resistance 2 on the chart, but also surpass the third resistance, that sits where the 0.618 line is.
The last time we saw XRP above it was 4 days ago.
There is both enough positive market sentiment around Ripple to see that line being passed, but also enough gas, boosted by the RSI Stochover that illustrates XRP is currently oversold, with a crossover occurring on the higher time frames.
Moreover, the volume is slowly decreasing on the charts, illustrating that a big move is just about to occur.