
Asia’s Retail FOMO Could Be Behind XRP’s Rally Despite SEC’s Lawsuit
Data and traders reveal the source of XRP's recent price rally could be Asia.
Data and traders reveal the source of XRP's recent price rally could be Asia.
Tetragon was one of Ripple Labs' big financial backers.
In view of the lawsuit by the United States Securities and Exchange Commission (SEC) against Ripple Labs Inc., popular cryptocurrency exchange Coinbase has announced its decision to suspend trading of XRP on its platform. Also, Ripple Labs and Brad Garlinghouse have issued responses to the SEC lawsuit. Coinbase, through an official...
The announcement came hours after Coinbase and OKCoin took similar actions.
The SBI Holdings statement refers to a research article by Sadakazu Osaki of the Nomura Research Institute indicating under Japanese law XRP is a "cryptocurrency asset" and not a security.
The SEC's suit against Ripple has triggered a steep sell-off in price for the payments token XRP. Meanwhile, prices for Chainlink's token have increased seven-fold this year, most among CoinDesk 20.
Quick take: Crypto Analyst, MagicPoopCannon, has updated his May 2020 analysis of XRP XRP has broken above the massive falling wedge that began in September 2018 The upside target of the falling wedge is now $0.80 However, XRP could test $0.92 based on the 23.6% Fibonacci retracement of the last bear market Crypto analyst, MagicPoopCannon has updated his May 2020 analysis of XRP...