SEC Files Amended Complaint Against Ripple, as Pretrial Begins

SEC Files Amended Complaint Against Ripple, as Pretrial Begins

The United States Securities and Exchange Commission (SEC) has filed an amended complaint towards Ripple, alleging that it willfully misled investors with XRP.

The amended complaint got filed just a few days before the pretrial hearing between the SEC and Ripple, which began on February 22. While it originally accused Ripple Labs and its top executives of violating securities laws with a $1.3 billion XRP sale, the regulatory body is now alleging that Garlinghouse and Larsen intentionally manipulated XRP’s market price by increasing and lowering their XRP sales to suit market conditions.

The amended SEC complaint stated that “from at least 2013 through the present, Defendants sold over 14.6 billion units of a digital asset security called ‘XRP,’ in return for cash or other consideration worth over $1.38 billion US Dollars (‘USD’), to fund Ripple’s operations and enrich Larsen and Garlinghouse.”

However, the General Counsel to Ripple, Stuart Alderoty, noted that the new complaint brought forward no arguments and that there was only one legal question to be settled; whether or not XRP is considered a security under US investment laws. According to a recent tweet on the matter, Alderoty tweeted: “as many of you have seen, the SEC filed an amended complaint. The only legal claim remains: did certain distributions of XRP constitute an investment contract? Disappointing the SEC needed to try to ‘fix’ their complaint after waiting years to bring it in the first place…”

XRPUSD – 4-Hour Chart

Key XRP Levels to Watch — February 24

Following yesterday’s crypto market bloodbath, XRP appears to be regaining its bullish momentum and is up by 3.6% at press time. That said, the seventh-largest cryptocurrency has to break back above the $0.5400 resistance to establish a renewed bullish dominance.

That said, we could see the price stall (consolidate) below the $0.5400 resistance in the coming hours. On the flip side, only a sustained drop below the $0.4524 support can negate the current bullish momentum.

Meanwhile, our key resistance levels are at $0.5400, $0.6000, and $0.6374. While our key support levels are at $0.4524, $0.3838, and $0.3500.

Total Market Capitalization: $1.54 trillion

XRP Market Capitalization: $22 billion

XRP Dominance: 1.4%

 

You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Moneygram Severs Ties With Ripple Amid SEC Lawsuit Saga

Moneygram Severs Ties With Ripple Amid SEC Lawsuit Saga

Moneygram International announced yesterday that it has halted operations on Ripple’s platform. The news came with the company’s Q4 and 2020 earnings report.

In its outlook for the first quarter of 2021, Moneygram noted that it “is not planning for any benefit from Ripple market development fees in the first quarter,” adding that “due to the uncertainty concerning their ongoing litigation with the SEC, the company has suspended trading on Ripple’s platform.”

Before now, the payment solution company had a commercial agreement with Ripple, enacted in June 2019, to “use Ripple’s foreign exchange (FX) blockchain trading platform (ODL) for the purchase or sale of four currencies.”

In its earnings report on Monday, Moneygram explained that “in the first quarter of 2020, the company realized a net expense benefit of $12.1 million from Ripple market development fees.” The company also noted that in Q4 of 2020, it generated “$8.5 million net benefits from Ripple market development fees of $9.2 million, partially offset by related transaction and trading expenses of $0.7 million.”

Furthermore, its financial statement for the years 2020 and 2019 include Ripple market development fees of $50.2 million and $11.3 million, respectively. These numbers were counteracted by related transaction and trading expenses of $11.9 million and $0.4 million, respectively.

SEC’s Lawsuit Against Ripple
Moneygram cited the recent SEC lawsuit against Ripple Labs Inc. as the reason for its tie-severing move.

The SEC lawsuit, which got filed in December 2020, charges Ripple’s CEO and co-founder with conducting a $1.3 billion unregistered securities offering of XRP.

The lawsuit alleges that “much of the onboarding onto ODL was not organic or market-driven. Rather, it got subsidized by Ripple.” The SEC added that “though Ripple touts ODL as a cheaper alternative to traditional payment rails, at least one money transmitter … found it to be much more expensive and therefore not a product it wished to use without significant compensation from Ripple.”

 

You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Have you invested in an extremely rare opportunity of a lifetime?

Have you invested in an extremely rare opportunity of a lifetime?

The Next “Buzz Word” Altcoins
Last month, the Bloomberg Galaxy Crypto Index was at 1414.37, following a low of 217.82 in early March. BTC had made a new high yesterday at $51,630.86. Today (February 17) and the index was at 2,295.61. That’s a huge gain for one month.

Let me put this into perspective. In late 2017, I said that cryptoassets were the biggest institution revolution since the Industrial Revolution and that they represented the investment of a lifetime. Institutions, however, were not ready or capable of participating in that revolution so they “pooh-poohed” it. The SEC decided that most altcoins were securities which precipitated a huge bear market. By the end of 2018, cryptos had undergone an 85% decline and BTC hit a low price of $3,236.76 on Dec 15, 2018. But then look what happened.
BTC was up 92.71% in 2019
It was up 305.94% in 2020
And it’s up 75.42% in less than 50 days of 2021….

What did I say in 2018? There was actually a period from October through November last year when I made over $3 million in 7 weeks. Cryptos are the investment of a lifetime.

While BTC could go up another 10 fold in the long run, I doubt that it will go much over $100,000 this year…. But the opportunity of a lifetime is not over because now the altcoins are starting to move. Here are a few examples, and this is just the movement in 2021.

BNB 289%
ETH 144%
LINK 178%
SNX 215%
AAVE 397%
CND 145%

And remember those gains are just from the 48 days of 2021….

You can purchase crypto coins here.  

Update on Cryptoassets
I think that there are a number of altcoins that could go up 10 times or more during the rest of 2021. Now we might have a decline of 40% or more during the year, but it probably will be short-lived with a very quick recovery…
BTC was up 92.7% in 2019, 305.94% in 2020, and in the first six weeks of 2021, it’s up 74.22%. Let’s contrast that with the other hedge against the USD and disaster, gold. Gold was up 20.94% in 2019, up 18.32% in 2020, and it’s down 5.1% so far in 2021. The path of safety is now BTC.

Gold has about 10 times more market cap than cryptos right now (even though cryptos are now over a trillion for the 1st time). If all of the money in gold went into BTC, BTC’s price would be about $370,000…

People talk about BTC being volatile and risky. But where can you find something that has made over 1,000% in 3 of the last 11 years, over 100% in 8 of them, and had only two losing years? There is only one other place than BTC with anywhere near equal performance – other cryptoassets.
If you had bought BTC at the beginning of 2012 (well, not at the very beginning), you would have turned $1,000 into more than $7.1 million (up $4.5M last month)…

Remember these are 30-day percent gains. This is probably the easiest market possible to make a lot of money. You could, however, just as easily enter a position and immediately have a 25% drawdown – which could cause you to exit and then miss out on some nice gains. If you don’t have strong beliefs about cryptos like I do, crypto volatility will test you…

This newsletter makes no recommendations about cryptos but is a free service… I personally own positions in most of the cryptos mentioned in this newsletter.

Author: Van K. Tharp, PhD

Note: This article was culled and abridged from a monthly cryptos update by Dr. Van Tharp. The full article can be accessed here.

You can purchase crypto coins here. 

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

XRP/USD Price Analysis — February 17

XRP/USD Price Analysis — February 17

The ongoing SEC vs. Ripple debacle has sown a seed of mistrust in the hearts of many investors against holding XRP.

Ripple’s former CTO, and co-founder, Jed McCaleb, is leading the charge and has been offloading his Ripple (XRP) holding at a steady rate.

McCaleb, alongside Chris Larsen and Brad Garlinghouse, co-created and founded Ripple Labs in 2012. After leaving Ripple, McCaleb developed the now-defunct Bitcoin exchange Mt. Gox and the Stellar Development Foundation, which hosts the budding cryptocurrency Lumen (XLM).

The programmer left XRP with about 9 billion XRP tokens, of which more than 6 billion have already gotten sold. Although the former Ripple executive is free to do whatever he likes with his XRP holding, a strict agreement on how much XRP he could sell a day was penned-down, to safeguard XRP’s price in the market from the effects of a significant dump.

Recent data shows that McCaleb has been on an XRP selling spree for a while now. Since the start of February, McCaleb has sold 95 million XRP, worth about $56 million. On Valentine’s day, the XLM co-founder dumped a whopping 38 million XRP worth about $22 million. Market analyst Leonidas Hadjiloizou noted that McCaleb’s XRP sales are not likely to slow down anytime soon.

The analyst said that “Jed will be selling 38,345,406.53 XRP per day this week. This amounts to roughly 268M XRP or $166M at current prices in 1 week. At this rate, his 2.896B XRP would run out by May. At half that rate (19M per day), he would run out by mid-July. At 10M per day by the end of the year.”

XRPUSD – 4-Hour Chart

Key XRP Levels to Watch — February 17

The XRP is currently on a bearish roll, following the recent development surrounding the SEC saga. The cryptocurrency got heavily rejected at the $0.6374 resistance, which triggered a correction to the upward-facing trendline. However, XRP has broken through the trendline and appears to be going for the $0.4524 support.

That said, the sixth-largest cryptocurrency could find decent support at the $0.5000 psychological support, which could help it stage a rebound to the $0.6000 area. The failure of bulls to defend the $0.5000 line could precipitate further declines for Ripple, over the coming hours.

Meanwhile, our key resistance levels are at $0.6374, $0.6660, and $0.7800. While our key support levels are at $0.5000, $0.4524, and $0.3838.

Total Market Capitalization: $1.48 trillion

XRP Market Capitalization: $45.4 billion

XRP Dominance: 3.06%

 

You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

SEC vs. Ripple: Settlement Now Unlikely as Pretrial Draws Nigh

SEC vs. Ripple: Settlement Now Unlikely as Pretrial Draws Nigh

The US Securities and Exchange Commission (SEC) and Ripple, the host company of the sixth-largest cryptocurrency, have both asserted that there will be no settlement on the current lawsuit against Ripple before the official trial date, as many cryptocurrency enthusiasts anticipated.

The assertion was confirmed through a letter dated February 15, 2021, and was addressed to Judge Analisa Torres. In the letter, both the SEC and Ripple noted that they “do not believe there is a prospect for settlement at this time” since the last time they discussed the issue.

The parties also noted that all discussions were made under the previous administration with several SEC executives who are no longer with the commission, considering the change-of-power that occurred in the SEC late last year.

Meanwhile, some disagreements about the discovery of the trial arose, as both parties argued about the evidence, witnesses, and information to be presented in court.

The SEC noted that it was working towards taking five confirmations beyond the ten allowed over allegations, adding that it could request the court to force Ripple to provide some documents and relevant deposition testimony to support its argument.

That said, the cryptocurrency-related company has declined to accede to this request, noting that the documents are protected by attorney-client privilege, adding that the SEC’s demand is “improper and lacks legal foundation.”

The SEC vs. Ripple
The SEC and Ripple issue began in the middle of December 2020, after the regulatory body filed a lawsuit against Ripple for carrying out unauthorized securities sales per the federal securities laws.

The commission claimed that the company’s CEO and Chairman, Brad Garlinghouse and Chris Larsen, sold more than $1 billion in unregistered XRP to investors.

The first pretrial conference for the case is scheduled to hold on February 22. The letter asserted that both parties have agreed to set August 16, 2021, as the deadline for the discovery phase, which involves the assembling of all evidence and argument.

 

You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Ripple (XRP) Slumps to $0.50, May Resume Upward

Ripple (XRP) Slumps to $0.50, May Resume Upward

Key Resistance Levels: $0.65, $0.70, $0.75
Key Support Levels: $0.45, $0.40, $0.35

XRP/USD Long-term Trend: Bullish
Since February 13, buyers have retested the $0.65 resistance zone twice but could not find penetration above it. On each attempt, the price would fall to the $0.55 low. The price fell and found support above the 21-day SMA. On the upside, if the bulls succeed in pushing the price above the $0.65 resistance zone, the uptrend will resume. The altcoin will rise but will face initial resistance at $0.75.Subsequently, the bullish momentum will continue above the $1 high. However, if the bulls fail to overcome the initial resistance at $0.65, XRP will fluctuate between $0.50 ad $0.65.

XRP/USD – Daily Chart

Daily Chart Indicators Reading:
The crypto has a bullish crossover. The 21-day SMA crosses over the 50-day SMA which signals a buy order. The coin is above the 60% range of the daily stochastic. This indicates that the coin is in the bullish momentum

XRP/USD Medium-term Trend: Bullish
On the 4 hour chart, the coin is in a smooth uptrend. On February 13 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that XRP will fall to level 1.618 Fibonacci extensions. That is the low of $0.48.

XRP/USD – 2 Hour Chart

2-hour Chart Indicators Reading
Ripple is below the 40% range of the daily stochastic. It means that the coin is in a bearish momentum. However, this is contrary to price action which is indicating bullish signals. Nonetheless, if the bulls break the downtrend and close above it, Ripple will resume the uptrend.

General Outlook for Ripple (XRP)
Ripple has been retracing but will resume upward if finds support above $0.48. The coin is in a bearish momentum.


You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

XRPUSD Price; Consolidating Within $0.49 and $0.39 Levels

XRPUSD Price; Consolidating Within $0.49 and $0.39 Levels

XRP/USD Market February 08

When the bulls increase their momentum, $0.49 level may be penetrated upside and $0.62 – $0.73 levels may be reached. In case the bears prevail over the bulls, $0.39 may be penetrated and $0.28 – $0.21 may be tested.

Key Levels:

Resistance levels: $0.49, $0.62, $0.73

Support levels: $0.39, $0.28, $0.21

XRP/USD Long-term Trend: Bullish

XRPUSD is bullish on the daily chart. The sudden price spark that took place on February 01 pushes the price to test the resistance level of $0.62 before it falls back to $0.39 level. Shortly after that, the price has not make a significant movement. The price is consolidating within $0.49 and $0.39 levels. Before the market close last week, the bears were in control.

XRPUSD Daily chart, February 08

The price is trading above the fast-moving EMAs and the slow-moving EMAs. The two are well separated which indicate that the bulls are holding the market. When the bulls increase their momentum, $0.49 level may be penetrated upside and $0.62 – $0.73 levels may be reached. In case the bears prevail over the bulls, $0.39 may be penetrated and $0.28 – $0.21 may be tested. The relative strength index period 14 is at 50 levels with the signal line pointing downside to indicate the selling market.

XRP/USD Medium-term Trend: Ranging

XRPUSD is ranging on the medium-term outlook. The momentum of both the bulls’ and the bears’ remains equal on the 4-hour chart and that is the reason for the continuation of price consolidation around the $0.39 price level. This scenario started shortly after the falling of the price from the high of $0.62. The bears pushed the price to break down the $0.39 level and lose momentum.

XRPUSD 4-hour chart, February 08

The two EMAs are interlocked to each other and the price is hovering over the 9 periods EMA and 21 periods EMA. However, the relative strength index period 14 is bending down below 50 level to indicate sell signal.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

XRPUSD Price; Bulls are Preparing to Soar Higher

XRPUSD Price; Bulls are Preparing to Soar Higher

XRP/USD Market February 02

If the bulls were able to increase their momentum and break up the $0.39 level, then, $0.49, $0.62 will be the next target. Should the resistance at $0.39 holds, the price may continue consolidating at the $0.39 level. However, below the current market price are $0.28, $0.21, and $0.17 support levels.

Key Levels:

Resistance levels: $0.39, $0.49, $0.62

Support levels: $0.28, $0.21, $0.17

XRP/USD Long-term Trend: Bullish

XRPUSD is bullish on the daily chart. When the November high ($0.73) was reached a few days ago, the bears could not accept defeat, they reacted against it with a sharp and sudden reduction in the price and the daily candle turned to the upper long-tailed candle. The price was placed below the former support level of $0.39 on February 01.  The bulls are trying to increase their momentum to push up the price.

XRPUSD daily chart, February 03

The fast-moving EMAs remain above the slow-moving EMAs well separated and the price is trading above the 9 periods EMA and 21 periods EMA as a symbol of a bullish market. If the bulls were able to increase their momentum and break up the $0.39 level, then, $0.49, $0.62 will be the next target. Should the resistance at $0.39 holds, the price may continue consolidating at the $0.39 level. However, below the current market price are $0.28, $0.21, and $0.17 support levels. The relative strength index period 14 is at 50 levels with the signal line pointing upside to indicate the buying market.

XRP/USD Medium-term Trend: Ranging

XRPUSD is ranging on the medium-term outlook. The bulls’ momentum and the bears’ momentum are equal on the 4-hour chart and that is the reason for price consolidation around the $0.39 price level. This scenario started shortly after the falling of the price from the high of $0.62. The bears pushed the price to break down the $0.39 level and lose momentum.

XRPUSD 4-hour chart, February 03

 

The two EMAs are close to each other and the price is trading below the 9 periods EMA and 21 periods EMA at a closer range. The relative strength index period 14 is parallel to the level at 50 to indicate that consolidation is in progress.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

NEO Price; Is It a Bearish Continuation or Price Reversal?

NEO Price; Is It a Bearish Continuation or Price Reversal?

NEO Price Analysis – February 02

Should the bulls push up the price above the resistance level of $25, then, the price may increase to $28 and $32 price level. In case the bears prevail and the price burst out at the support level of $22, the price will reduce to the $19 support level and may test the $15 level.

NEO/USD Market
Key Levels:

Resistance levels: $25, $28, $32

Support levels: $22, $19, $15

NEO/USD Long-term Trend – Ranging

NEOUSD is on the ranging mode in the daily chart. The short “M” pattern formed last two weeks drove the price down to the support level of $19 on January 27. The mentioned level holds the price and it could not break it down. The bulls tried and pick up the market but the momentum is not strong enough to drive the market fast. The price consolidates between the two dynamic support and resistance level throughout last week. Today, it seems the bulls want to dominate the market as the bullish candle open the market.

NEOUSD Daily chart, February 02

The two EMAs are parallel to each other at a close range and the coin is trading in between the 9 periods EMA and 21 periods EMA. Should the bulls push up the price above the resistance level of $25, then, the price may increase to $28 and $32 price level. In case the bears prevail and the price burst out at the support level of $22, the price will reduce to the $19 support level and may test the $15 level. However, the relative strength index period 14 is displaying a bullish signal.

NEO/USD Medium-term Trend – Ranging

The bulls’ momentum and the bears’ momentum are at equilibrium in the 4-hour chart. The support level of $19 was tested on January 27, the price bounces off the level and inclined towards the resistance level of $25. The bearish momentum became weak and the price could not reach the mark. The price results in consolidation around $22 price level.

NEOUSD 4-hour chart, February 02.

The 9 periods EMA is interlocking to the 21 periods EMA while the price is trading over and around the two EMAs. The relative strength index period 14 is displaying a bullish signal.

 

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

XRPUSD Price Bounces Off November High Level

XRPUSD Price Bounces Off November High Level

XRP/USD Market February 02

A further increase in the bears’ pressure may push the price to penetrate the support level of $0.28 level; this may decrease the price to $0.39 and $0.28. In case the support level of $0.28 does not give way, the price may increase to the previous high levels of $0.62, $0.73, and $0.79. The relative strength index period 14 is at 50 levels with the signal line pointing downside to indicate the selling market.

Key Levels:

Resistance levels: $0.62, $0.73, $0.79

Support levels: $0.49, $0.39, $0.28

XRP/USD Long-term Trend: Bearish

XRPUSD is bearish on the daily chart. The market is highly volatile yesterday as bulls initially overpowered the bears and that is why the price is soaring higher. The bulls’ pressure broke up $0.39, $0.49 and $0.62 price level and the resistance level of $0.73 is tested. The bears oppose the price increase. The price is pushed down with the formation of long legged daily candle; the price is targeting the previous low.

XRPUSD Daily chart, February 02

The two EMAs are well separated and the price is trading above the 9 periods EMA and 21 periods EMA at a close range as a symbol of a bullish market. A further increase in the bears’ pressure may push the price to penetrate the support level of $0.28 level; this may decrease the price to $0.39 and $0.28. In case the support level of $0.28 does not give way, the price may increase to the previous high levels of $0.62, $0.73, and $0.79. The relative strength index period 14 is at 50 levels with the signal line pointing downside to indicate the selling market.

XRP/USD Medium-term Trend: Bearish

XRPUSD is bearish on the medium-term outlook. The bulls’ momentum was higher than that of the bulls’ in the 4-hours chart at the beginning of the trading yesterday; the price is greatly increasing towards the resistance level of $0.73. The bears reacted sharply against the increase and there is a formation of inverted pin bar. It is a bearish candle pattern and this triggers the falling of the price to previous low at $0.28 level.

XRPUSD 4-hour chart, February 02

The two EMAs are above the price currently and the price is trading below the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is pointing down at 50 level to indicate a sell signal.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.