Against the backdrop of positive news, the XRP token showed its best daily gain in three months

CRYPTOLs Leaders of growth and declineLINK/USD 02:218.9505 17.78%BAT/USD 02:150.19139 4.91%QTM/USD 10.212.3126 3.42%DSH/USD 02:0526.17 3.25%XTZ /USD 02:190.66809 3.24%IOT/USD 02:230.1486 3.14%ADA/USD 02:210.2588 2.94%NEO/USD 02:097.0126 2.91%XLM/USD 02:190.11066 2.65%ETC/USD 02:0015.71 2.55%LTC/USD 02:2364.82 2.22%EOS/USD 02:160.55834 1.78%XMR/USD 02: 22157.84 1.51%ETH/USD 02:211 629 1.34%OMG/USD 02:170.46255 1.23%DGB/USD 02:210.006668 -1.15%TRX/USD 02:160, 091531 0.73%BTC/USD 02:2329 945 0.63%XRP/USD 02:220.52099 0.54%MKR/USD 02:041 424.1 -0.43%UST/USD 02:231.0006 -0.01% Cryptocurrency, Oct 20, 12:48 1,139 The SEC withdrew the lawsuit against the executives of Ripple Labs The SEC withdrew the lawsuit against two executives of the cryptocurrency company Ripple Labs Against the backdrop of positive news, the XRP token showed its best daily gain in three months On the night of Friday, October 20, The US Securities and Exchange Commission (SEC) has published a document according to which the regulator withdraws its claim against Ripple Labs CEO Brad Garlinghouse and the company's executive chairman Christian Larsen. It follows from the document that the SEC abandons claims against Ripple Labs top managers who previously were accused of facilitating the sale of XRP tokens, which, according to the judge, are considered securities. However, the commission has not dropped the charges against the company itself and will continue to consider the claims. “For almost three years, Chris and I have been the subjects of unfounded accusations from the regulator,” Garlinghouse commented on the SEC’s decision. “Instead of going after the real criminals stealing customer funds on foreign exchanges, the SEC went after the good guys. It’s nice that we were finally acquitted.”rbc.group Against the backdrop of this news, the XRP token showed its best daily gain in three months. According to the Coinmarketcap service, the fifth largest crypto asset by capitalization grew by almost 7% per day and, at the time of writing, is trading at $0.515.XRP/USD0.52169 +0.00398 (0.77%)Oct 22 02:22:531d 3d 1m 3m 1y 5l20 Oct21 Oct22 Oct0.460.480.500.520.54SEC filed a lawsuit against Ripple Labs in 2020, accusing the company of distributing approximately $1.3 billion worth of unregistered securities in the form of the platform's native tokens. On July 13 of this year, Judge Torres ruled that the sale of XRP directly to institutional investors was a violation of the regulator’s rules, but the offer of tokens to retail investors on exchanges was not. RBC-Crypto launched monitoring of cryptocurrency exchangers. Choose a reliable exchange service with a favorable rate on yourcryptoex.ru or in a convenient telegram bot.AuthorSergey TerskyCryptocurrencyLegal proceedingsNewsPartners' news Chubais, who flew away from Israel, got in touch: here is where he isAfter all the rumors, Kadyrov turned to the RussiansWhere Kiev's missiles are now flying: here is a map of the affected areaIn Russia it was champion, and in Italy she began to wash floors Gref: this is what the real exchange rate of the ruble should beKiev wants to join the EU, but what do people want? - Ukrainians were surprised by the answers Kazakhstan withdrew from the agreement with Belarus: what does this mean? They insulted women in the USSR: but what does it really mean? 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Cryptocurrency is a volatile asset that can lead to financial losses. Analyzing the situation with Bitcoin (BTC), I will rely both on the local picture from technical analysis and by drawing an analogy with a similar market situation on October 20, 2020. Technical analysis: what you need to know for every investor rbc.group First, let's look at the daily Bitcoin chart. The asset is currently trading in the range of $28,100 - $28,600, local support is at $27 thousand, the key resistance level is $29 thousand. On hourly timeframes there is a bullish squeeze in the form of a small falling wedge. Enlarge the chart The lower boundaries of the ascending channel are the levels of $25,500 and $32,000 , upon breakdown of which I expect to see either a strong fall or strong growth of the asset. Next, I’ll tell you why I’m still inclined to grow and expect to see it in the coming weeks. Now I want to turn to historical data and look at the situation of Bitcoin in 2020. As we remember, in the spring of 20, a worldwide lockdown was introduced due to the COVID-19 epidemic, and against this background, Bitcoin lost half of its market capitalization, falling in price from $8 thousand to $4.5 thousand. A similar strong drop occurred a year ago when the collapse of the FTX exchange, the Bitcoin rate immediately dropped to $15.3 thousand.Enlarge graph After all these difficult moments, Bitcoin turned around in the coming months, regardless of the news background. Drawing an analogy with the situation two years ago, one can find similarities in the recovery of the Bitcoin rate. In my opinion, we are in a similar upward channel. If we visually compare both of these moments, we can find both an analogy of movement and the formation of similar technical analysis figures. If in the near future we hold the local support zone - $27 thousand and consolidate at $29 thousand, I expect to see growth to the upper border of the channel. And with a breakout and consolidation at $32 thousand, we can see rapid growth (mostly during liquidations) to the area of ​​$38 thousand - $40 thousand. Cancellation for this long formation will be a departure from the lower border of the ascending channel and consolidation below $25 thousand. Then the bearish one will be activated scenario with the Head and Shoulders pattern on the daily timeframe. But you need to understand that this outcome is expected by many of those who want to buy Bitcoin in the region of $22 thousand, but will they allow this to happen? I highly doubt this, but we keep all the options in mind and work according to the strategy.