Hey, friends! Big news, the founder of Ripple announced something special for the community members!
Did you know? In previous years, they would reduce the supply of 150 million XRP, but this year is different, they are going to "give" it all back! In other words, in the next few hours, you have the opportunity to double your XRP.
The story behind this is that the lawsuit between Ripple and the SEC has finally settled. Ripple paid the SEC $125 million, which is much less than the $2 billion the SEC wanted at the beginning, because they said that what Ripple sold was securities.
Now, do you think XRP is going to rise?
Looking back at the past four years, whenever the SEC took action on cryptocurrencies, other altcoins tended to rise sharply. As soon as the news came out, XRP rose 20% in one day. Although not much, it at least returned to the level at the end of July.
I always say that technical analysis is very important. Anyone who can spend 18 hours in front of the chart can see whether the price is going up or down, all depending on the support and resistance levels. Fundamentals and technical aspects are both indispensable.
So, what is the conclusion? According to the news and past experience, both sides will definitely appeal. But don't forget that profit-taking and changes in market structure may cause prices to reverse, and we may have to experience another decline.
For dry goods in the currency circle, click on the avatar to follow me, the deployment of 100-fold potential coins in the bull market, and daily spot strategy sharing!
