Ripple closed down -0.003 at 0.387. Volume was 12% below average (neutral) and Bollinger Bands were 20% narrower than normal.
Open High Low Close Volume___
0.392 0.411 0.340 0.387 145,361
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Demand and Use of Ripple outperform almost all other Cryptocurrency, the SEC looks like a temporary spanner in the long term success here.
Take the SEC out, look at the growing demand and the limited issuance and $5 or more is not hard to see.
Ripple (XRP) is the “cryptocurrency token” native to “the Ripple Network.” It’s the cryptocurrency that trades on the market under the symbol XRP (and its what most people mean when they say “Ripple”). To avoid confusion, one can call the native cryptocurrency token of Ripple by its proper name, XRP.
The Ripple network (also called “RippleNet”), AKA the Ripple Payment protocol, is a open source, peer-to-peer, real-time payment system (like Bitcoin’s blockchain or Ethereum’s network) that can be used to transfer both fiat currencies and the Ripple cryptocurrency XRP. A few different “products” exist on this network, each of which has a different function.
Ripple is a technology that acts as a cryptocurrency (XRP) and a digital payment network for financial transactions. It was co-founded by computer programmers Chris Larsen and Jed McCaleb and released in 2012 though their US-based company, Ripple Labs Inc.
The systems that process financial payments are often overly complicated and fragmented. This means the payments can be costly, time-consuming, and unreliable. Ripple offers an alternative platform that can facilitate cross border payments which are 100% secure, instant, and practically free.
As far as the SEC Matter Goes Remember
We don’t expect this to be anything more then another SEC shakedown, a fine (extortion fee) will be paid and Ripple will be back in action.
XRP is a virtual currency and thus, outside the SEC’s jurisdiction.
Ripple has never entered a contract for an investment with any holders of XRP.
Ripple never held an ICO, never offered future tokens to raise money and has no relationship with the vast majority of XRP holders.
Holding XRP does not mean a person receives a portion of Ripple’s revenue or profits.
Ripple’s XRP sales amounted to far less than 1% of the massive XRP market that has grown over the last 8 years.
The XRP Ledger, on which XRP actually moves, is completely decentralized.
The SEC ignores the economic reality of an XRP transaction.
Ripple’s XRP holdings do not create an investment contract any more than DeBeers holdings convert diamonds into securities
Ripple is currently 24.0% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods.
There is a good possibility that volatility will decrease and prices will stabilize in the near term, some consolidation in this market is a good thing.
Our volume indicators reflect volume flowing into and out of Ripple at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on Ripple and have had this outlook for the last 16 periods.