-Ripple (XRP) Breaks Out of 3-Year Downtrend as Gensler Suggests
Retirement XRP is up 1% in 45 weeks thanks to a technical breakthrough.
the number of whale ripples hit a 5-year high.
Gensler pointed to a possible exit from the SEC.
the #Ripple #token #XRP has broken out of a three-year downtrend, which coincided with the possible resignation of SEC Chairman Gary Gensler and a hint of a massive whale count. XRP has gained 15% in the past 24 hours, up 1% over the past 45 weeks, and was trading at 0.8012.
An important technical event occurred as XRP broke out of a 3-year downtrend. According to Milkybull Crypto analysts, this breakout marks the upcoming massive rally
To back up this optimistic outlook, according to Santiment data, large holders controlling at least 100 million XRP now own 456 billion tokens worth 1,000 million, the highest since 2018/6.
Whale Accumulation is showing surprising strength, with large holders adding 344,000 million XRP over the past 2 years, 8.16% more than their total amount.
This accumulation phase coincided with the recent increase in the token's price, giving traders a 7% profit in just 40 days.
The recent speech by Gary Gensler, chairman of the U. S. Securities and Exchange Commission, at the 56th annual meeting of the PLI (Securities Regulation Institute) has sparked rumors of his departure: It has been an honor to work with people, to make sure that the capital markets remain the best in the world, and to work together with them.
His possible departure comes after the SEC implements reforms to the ¥28 trillion U. S. Treasury bond market and updates ¥60 trillion in stock market rules in 2021.
As for #cryptocurrency enforcement, Gensler noted that since 2018, cryptocurrency-related cases have accounted for 5-7% of the SEC's total enforcement activity.
The price dynamics of XRP reflect the market's growing optimism. Over the past week, the token has traded between 0.5464 and 0.
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