XRP back in position to 15x BTC
XRP is now sitting at under 1100 satoshis, a place it has not found itself in since December of 2017, when BTC was reaching it's ATH. Once again, BTC is establishing a new ATH and XRP is at an ATL against bitcoin. What happened next in 2017 was that in a matter of 4 weeks xrp spiked 15x against btc, from less than 1100 sats to more than 22000 sats.
Now I know that the news of Ripple's legal trouble with the SEC has a lot of us rattled, but I see three reasons not to be. First, even after the news broke and the massive selloff transpired, xrp is still sitting in the .30 cent range against the usd, which is a key area of resistance that it took more than a year to break through. Second, the weekly red candle in Dec 2017 that took xrp down to it's atl against btc was bigger than the current red candle that has taken us to where we are now (the selloff in dec 2017 was bigger than the current selloff). And third, the SEC is just wrong; xrp is not a security, and Ripple will prevail.
With that being said, I'm still bullish on xrp. Let's see where this goes!
Now I know that the news of Ripple's legal trouble with the SEC has a lot of us rattled, but I see three reasons not to be. First, even after the news broke and the massive selloff transpired, xrp is still sitting in the .30 cent range against the usd, which is a key area of resistance that it took more than a year to break through. Second, the weekly red candle in Dec 2017 that took xrp down to it's atl against btc was bigger than the current red candle that has taken us to where we are now (the selloff in dec 2017 was bigger than the current selloff). And third, the SEC is just wrong; xrp is not a security, and Ripple will prevail.
With that being said, I'm still bullish on xrp. Let's see where this goes!
Sleep in peace, wake in joy, walk in love
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