The XRP chart is surprising again, but those who missed the pump can still get a chance to buy at a nice price. A great post for asset lovers.
We will not open a deal on XRP for investment, because on July 13, 2023, with a profit of +100%, we closed 50% of the position and received "free" coins for the bull run. We will try speculatively, the spot deal is at the end of the post.
Since July 31, the price of#XRPhas shown a powerful "saw" in both directions - first -34% on the general market dump, then +48% on the news of the victory over SEC, which was superimposed on the recovery of the market as a whole. The result - shoulder lovers were destroyed in both directions. Many were shaved off on the spot. If we had not closed our deal on July 13, 2023, we would have been knocked out to breakeven, and even earlier - on July 5, 2024, when the price reached $0.3937.
Ripple's victory over the SEC is final, and this is a really serious reason for growth. All that the court awarded is that Ripple must pay a fine of $ 125 million for selling XRP to institutional investors. The XRP coin itself was not recognized as a security following the proceedings. The judge reiterated her point of view that Ripple's sales of XRP to retail customers through exchanges do not violate federal securities laws.
![](https://public.bnbstatic.com/image/pgc/202408/688b5d99d7736721d51a22d853d46db5.png)
![](https://public.bnbstatic.com/image/pgc/202408/008fa1dfa5a7725ed4c45c4320d8bb35.png)
If anyone doubts that this, including the fine, is a victory, the company's CEO Brad Garlinghouse reminds us that the SEC initially wanted to get $2 billion from them.
![](https://public.bnbstatic.com/image/pgc/202408/7347938bfd8e4aa7bb564ea0341beb8a.png)
Interestingly, by the way, on July 29, the price of#XRPon the MEHS crypto exchange pumped up to $2 and quickly returned in price. At that time, we thought that it was about liquidity problems. But it seems that it was a large and probably insider purchase.
There is general enthusiasm again, Ripple is in the TOP of discussions on social networks, at its maximum since January 2024. And#XRPhas overtaken the stablecoin#USDCin capitalization.
Against the backdrop of this news, the topic of launching a Ripple ETF has once again been actively discussed online. Recall that Ripple, apparently, has been preparing for this step since at least January.
But we are not in a hurry, because on the XRP chart, where pumps and dumps usually occur on news, the chart is specific and it is difficult for us personally to excite it - now we see a potential ABC correction, where the dump on August 5 set the low of wave A, and the pump on August 7 set the high of wave B. We do not know on what (and it does not matter), but in this case the low of wave C should be lower than the low of August 5.
![](https://public.bnbstatic.com/image/pgc/202408/a92c5c951955a76d0e8f4887f3fa1bf0.png)
An idea for "what if". We place two-part buy orders at $0.4720 and $0.4330. 50% each. The first is slightly above the volume level of $0.4678, the second is above the August 5 low.
Will the price reach these targets? We are not sure, but it would be in the asset's style. In anticipation of a deep correction, two points are disconcerting:
1. It is possible that from July 31 to August 5 there was a full ABC correction, and not just wave A. It is possible to find a weak wave B variant there. But it is inexpressive.
2. According to #Santiment, whales (those with 1-10 million coins) already own a record 7.060 billion XRP worth about $4.4 billion. They have already loaded up. And such accumulation is a clear signal of their preparation for a big move in the asset. But these are #whales. They do not open with leverage, they can wait in a drawdown much longer than retail.
![](https://public.bnbstatic.com/image/pgc/202408/0fafad2847006eebd3f392f682376a32.png)
If the idea with wave C is invalidated, we will write about it.
In the end, we will repeat what we wrote on June 11 - the most interesting thing in the uptrend for the asset will begin with the breakout of the global downward trend from September 2021 (indicated by the dotted line, currently in the region of $ 0.6678). It is important to break the trend and consolidate above it with the body of the weekly candle. While there was a breakout, there is no consolidation. And a correction is possible.
![](https://public.bnbstatic.com/image/pgc/202408/41df282fb523510b2982608e61272d3d.png)
![](https://public.bnbstatic.com/image/pgc/202408/4b23f928005e8090082caa2dbd6a67f8.png)