The hunchback of crypto economy - Ripple ($XRP)



Source: Creative Commons License

Ripple has seen its dawn when it used to be the coin with second-most capital in the market. Currently, it is at 7th with a $24,245,439,465 cap even lower than Polkadot and Cardano (ADA).

The hunchback who carried once the weight of the market on its shoulders is fighting the lawsuit filed against by SEC and has been delisted or temporarily been put on the not-tradeable status on the majority of the exchanges across the United States.

With whatever going on in courts, the signs of hope for the HODLers of the XRP are shining bright every day, and it is almost evident that XRP will not only be listed but once again be the limelight and hunchback that carries most of the weight of this ambitious economy in the crypto world!

The report about the court hearing about the case and discussion between the judge and the lawyers of both parties is interesting too, for example in one instance the Judge interrupts the Lawyer of Ripple, Mr. Solomon only to prove that Judge herself has studied Ripple and knows about cryptocurrency.

Judge: “My Understanding about XRP is, not only does it have a currency value but it has a utility and that utility distinguishes it from Bitcoin and Ethereum,”

The most important remark however which gives hope to the Ripple community is when Judge interrupted the SEC lawyer to put the record straight about who they think is guilty? everyone who sold/bought XRP or people at Ripple running the firm? To that the SEC attorney on record said

No, under section 4, only Ripple And Affiliates of Ripple can have sold XRP Illegally.”

This gives crypto exchanges a clue about their legal trading of the XRP and possible relisting at many exchanges as they have been told that they are not under trial or scrutiny on this.

Now, this is bombshell news, this could mean all the exchanges start trading XRP a big event, and could explode XRP Prices. The bulls have already broken the resistance at 0.50, and it's all ready for the flight up to previous highs, and breaking the $1.00 resistance seems no hurdle now that there is huge capital floating around the crypto market.

The new support level is now $0.5. This is followed by $0.45, $0.42 (100 Day EMA), The RSI does not seem overbought, on the contrary, it seems a bit high at 70 but it indicates that the bulls are in charge of the market momentum as of now.


Please support this write-up to support the economy of Project-Hive. 20% of the earnings will go to Project-Hope for their trouble of promoting and running this great community! Join hands together and let's make this a great economy.