The Ripple-SEC case took an interesting turn. The document hidden from the public eye is now up for communal scrutiny.
On the technical side, the daily chart showed that Chaikin Money Flow had increased to 0.25. The CMF increase stood as a clear indication of buying pressure.
However, since the indicator had crossed 0.20, it meant that XRP might be overbought. Hence, the price could retrace unless accumulation increases. Additionally, indications from the Exponential Moving Average showed that the 9-day EMA has crossed the 20 EMA . When this happens, it means that the price is bullish. But if the opposite was the case, then XRP might be set for a potential reversal.Meanwhile, Brad Garlinghouse commented on the matter again after what happened behind the scenes became public. In his tweet, he accused the SEC of being hellbent on crippling the entire crypto industry.
It’s absolutely unconscionable that a regulator – when presented with so much pushback on what he was about to say / how he compiled this fake “test” in the first place – decided to move forward anyway, and throw an entire industry into chaos.
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