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Bearish on alt coinsInteresting how Coinbase gets a Wells notice from the SEC near midnight lol. Interesting Twitter thread for more on the subject by @_log_scale_ on this. Seems like, with more adoption, more regulation will be at play to determine which coins are commodities vs securities via the Howey test; where a security is an "investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others". Meaning there is a chance that bitcoin comes the U.S.'s native currency as it is considered a commodity. But for 99% of altcoins... its over for them as many of them have employed teams building the code, startup capital from ICOs, DeFi lending yields, etc. making them a security... which is at risk of being delisted from CeX's. Overall, go short on altcoins. Long on BTC and any true commodities on the crypto space deemed from the SEC.
CRYPTOCAP:TOTAL3Short
by linebands
BTC MARKET ANALYSIS 8.9.2021Bitcoin price declined over 15% and tested $42,000 against the US Dollar. BTC is recovering, but it could face sellers near the $48,500 and $49,000 resistance levels. Bitcoin started a major decline below the $50,000 and $48,500 support levels. The price is now trading well below $50,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $52,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is correcting losses, but the bears are likely to remain active near $48,500 and $50,000. Bitcoin Price Recovers Above $45K Bitcoin price failed to clear the $53,000 zone and started a major decline. BTC broke the key $52,000 support zone and the 100 hourly simple moving average to into a bearish zone. There was also a break below a key bullish trend line with support near $52,150 on the hourly chart of the BTC/USD pair. The pair even declined heavily below the $48,500 support zone. Finally, there was a spike below the $45,000 support zone and the price tested the $42,000 level. A low was formed near $42,000 before there was a recovery wave. The price climbed above the $45,000 resistance. It broke the 23.6% Fib retracement level of the recent decline from the $52,800 swing high to $42,000 swing low. An immediate resistance on the upside is near the $47,500 level. It is near the 50% Fib retracement level of the recent decline from the $52,800 swing high to $42,000 swing low. The first major resistance is near the $48,500 level. A close above the $48,500 level could pump the price in the near term. The next major hurdle for the bulls could be near the $50,000 zone. More Losses In BTC? If bitcoin fails to clear the $48,500 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $46,500 level. The first major support is near the $46,000 level. If there is a downside break below the $46,000 support zone, the price could extend its decline. In the stated case, the price could test the $43,500 support.
BINANCE:BTCUSD.PLong
by globalsymmetrygroup
1
XRP BREAKING THE BULLISH FLAG ! Almost 175 million XRP were moved to the "taconstand" wallet that belongs to Jed McCaleb and was set up when Ripple Labs started – back in 2012. The amount of 174,862,720 XRP totals approximately $210,051,020. Earlier today, it was reported that McCaleb's "tacostand" wallet's balance is now 709,911,469 XRP. Researcher Leonidas Hadjiloizou tweeted that the wallet from which the Ripple giant had been sending XRP to Jed is empty now. On Aug. 16, McCaleb's wallet contained 821 million coins remaining. Since then, before receiving 175 million XRP on Sept. 1 from Ripple, Jed has sold 112 million coins, according to data from XRPscan. According to forecasts from the jed.tequ.dev website built by the XRP community, Jed is likely to sell all of his XRP by Dec. 5, Dec. 22, Dec. 24 or January 2022 – depending on the weekly and monthly scale of his XRP sales.
Long
by globalsymmetrygroup
Different possibilities for XRP depending on BTCSo we don't know what BTC will do, but I think that XRP will as always closely follow Bitcoin the next years. If BTC really manages to hit ATH in Nov/Dec this year, which is not impossible, then I expect XRPUSD to hit the 20-30 USD region. However, I think that this is unlikely, currently. I think that BTC will climb to 55k now, pretend to be bullish, and then retest the MA200 again, with a brutal dump to 16k. I really hope I am wrong, but this would really fit BTC's past behavior of extreme shakeouts. If that happens, XRP will of course follow accordingly. And at current XRPBTC levels, this means a dumpt to retest the 10 cent area. Longterm, this would be a bullish structure with a double bottom at 10 cents. I am not saying that this will happen exactly like this, but it is a real possibility and we shouldn't be surprised or scared if something like this happens. Longterm BTC will hit 250k probably around early 2023, based on the lengthening cycle theory and the theory of diminishing returns, see for example this analysis here: BTC being at 250k peak, this would easily mean XRP at around 50 USD. However, this doesn't mean that XRP can't dump to 10 cents before that, one should always keep that in mind. My advice is to position yourself accordingly. A strategy would for example be to sell some percentage of one's XRP holdings in this coming bounce, keep the rest in case of BTC continuing the rally this year. The buying the dip should it really fall this low, with the money from the previously sold XRP. Anyways, trade with caution and good luck to everyone. P.S: I assume the SEC case will be resolved until early 2023 in favor of Ripple, probably contributing to a bullish scenario.
BITSTAMP:XRPUSD
by SebastianofMoon
17
BTC: new assessment; 72hr response.relief rally is lined with much optimism. expecting extreme volaility and swings for the next 72hrs. CZ leaked plans early, hence the 48.1k price liquidation, either this is a signal that CZ is in trouble for sneminem to come to the rescue and save him from the bogdanoffs, or this level will be revisited because the script leaked (or so my source says) plus we have witchcraftery brewing meme magic on crypto twitter. absolutely repulsive how much effort has gone into all of this since the B word conference. tether lawsuit. on the heels of the SEC V Ripple being quashed in short order. endless distractions. most peers are unawares of the flip being so imminent to switching, they aren't even prepared. Trading Disclaimer: All trades and ideas posted from this account, including setups, are given for educational purposes only. 95% of trades never win, and instead realize losses. Trading involves risk, there are zero guarantees that you will win any given trade, including this one or others related to it or this account. If you follow any setups, you do so at your own risk, taking full responsibility of any actions and / or outcomes. Nothing posted is to be taken as financial advice. The information and opinions presented by this account should not be construed as investment or trading advice, and is not meant to be a solicitation or recommendation to take actionable trading on any asset, cryptocurrency, securities, or any other tradable digital asset. All content presented is for entertainment and education. No Financial Advice. Past performances are not a guarantee of future outcomes and or results: trading involves strategizing probabilities, there are no expectations on any given trade. Always do your own research and consult a team of professionals from finance and law before proceeding with any type of action in personal finance. All information provided by this account is a general market commentary and does not constitute investment advice or financial advice. None of the information communicated in this accounts tradingview publishings are financial advice and/or incentives, solicitng, advertising, manipulation tactics, and any other malicious behaviour - no, solely for entertainment purposes ONLY.
BLong
by The_Clown_of_Smyrna
3
Ripple's regulatory troubles |Why is XRP facing severe dumpingQuick glance: In this post, we attempt to decode the ongoing tussle between Ripple and the SEC. This episode was filed into a lawsuit on December 2020. But the events that led to this lawsuit date back 2 years. Case Summary: SEC filed a case against Ripple which is one of the largest crypto issuing companies. The SEC filed a lawsuit against Ripple over its XRP cryptocurrency, alleging that the company held a $1.3 billion unregistered securities offering. The suit contends that Ripple should fall under SEC regulations because it is a security, not a currency. The case was filed on 5 Dec 2020. The SEC had been investigating Ripple for almost 2 years prior to filing the case. →The suit also alleges that Ripple was aware that it wasn’t likely XRP would qualify for status as a currency under the Exchange Act because it lacked the backing of a central government. →In response to the SEC lawsuit, Ripple said that the U.S. regulator is incorrect — Ripple’s XRP cryptocurrency is not a security. The company said XRP is a virtual coin used as a medium of exchange for international and domestic transactions. Ripple further added that XRP is an asset that is perfect for payment processing because it’s quick and scalable. →Ripple alleges that the SEC’s move “amounts to picking winners and losers” in the field, as fellow cryptocurrencies like bitcoin and Ether have not been subjected to such regulations. →Coinbase stopped trading in XRP earlier this year after the SEC suit came down due to which we saw a major downtrend in the price of XRP. →On 21/5/2021 Ripple filed the case to end with summary judgement after they filed a “lack of due process and fair notice” stating the fact that SEC had 2 years to prepare the evidence and along with the 6 months the case has been active. →This month, Ripple sought the SEC’s “policies governing SEC employees’ trading in, or purchase or sale of, Digital Assets and/or Virtual Currencies, including all changes and updates to those policies.” The SEC blatantly refuted this request with the SEC arguing that they were irrelevant to the litigation and would “not lead to the discovery of any relevant evidence.” But Ripple stated that the policies could reveal the SEC’s stance on digital assets — including any distinctions it draws between XRP and other cryptocurrencies, such as BTC and ETH. →The presiding judge has ordered the SEC to submit these documents citing them as relevant. Possible conclusions and their respective impacts: → If Ripple wins: We can see XRP becoming another major crypto. If Ripple wins then coinbase could start trading XRP again and we can see a major bullish trend. This jump could also give the crypto industry a major boost and may stabilize the market. This could also give a chance to Dogecoin to follow similar footsteps and become a mainstream trading crypto currency. This win could bring some stabilization into the current volatile market and bring even more people into the crypto world. → If SEC wins: This might be bad news and may open flood gates for SEC to regulate the crypto market even more which could reduce the freedom that people associate with cryptocurrency. SEC has never regulated any other crypto before this and winning this motion could give them a green light to go after other currencies as well which is bad news especially considering the current volatility of the market and this major news can break the crypto world. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :)
BINANCE:XRPUSDEducation
by Mudrex
5