TODAY'S NEWS - CRYPTOCURRENCY XRP UPDATE

 

A major leader of Citigroup recently made a prediction of what every large bank in the United States and in the world is going to be doing with crypto in the next one to three years and spoiler alert, it’s going to really benefit one specific company and one specific token I’m going to get into what that is and also Jack Dorsey and twitter just announced that they are launching new cryptocurrency team and in this article I’m going to tell you what some of ideas they said they actually have in mind. I’m also going to be going over some XRP technical analysis and price analysis based on some big movements that was happening this morning. I’m also going to tell you what bitcoin and gold had to do with it as well as the sp 500 and the Dow Jones and also a ripple executive. Yesterday gave some pretty harsh words to some U.S. regulatory bodies they’re going to tell you what he said in this article.

Right now we are covering the ripple versus the SEC case as well as other cryptocurrency news investment markets and personal finance, so if any or all of those topics interest you, make sure to leave a comment down below.

Jack Dorsey and twitter just announce yesterday that they’re going to be creating a cryptocurrency team relating to some activities that twitter wants to jump into in the cryptocurrency space. Jack Dorsey has made no bones about it. He is a big bitcoin and cryptocurrency fan and even earlier this year he released a feature on twitter where you could actually tip verified users in bitcoin using ios and right now they’re building one out for android, well the news came out about this cryptocurrency team and some of their focuses and they announced that the main points of this is basically to try and push the limits of what’s possible for identity payments community and ownership through the cryptocurrency technologies they’re also currently working on a feature that will allow twitter users to hold and display their NFTs and with the announcement from several platforms that they’re going to be building out. NFT market places might not be a bad time to actually research that NFT market maybe even mint your own. So I’m going to talk about some of the price movements of XRP that happened earlier this morning when it ran from about a dollar and 24 up to close to a dollar and 34 cents in a very short period of time and it didn’t take long for people to figure out that well that’s because bitcoin and a lot of others were also running up at the same time. Now XRP happened to have a big five and a half percent move during that time which is a little bit larger than most of the other moves but nonetheless there was a lot of others moving as well.

Bitcoin was also one of them, it actually touched 69,000 right on the nose before it pulled back and is now into some consolidation and profit taking as what typically happened right after hits a new all-time high but specifically for XRP, which technical analysis over the past couple of days and this not new news but right now 1.40 cents would be a resistance level that you’re going to want to look for XRP to actually break through and if it does then you’re probably looking at a dollar 70 to 1.75 would be the next resistance level, so it’s basically a clear shot to there and if it happens to break through that then you’re looking at two dollars being imminent and if you zoom out and look at the long term you can see that XRP is absolutely trending that way and many are calling for parabolic moves starting at the end of November and into December.

Bitcoin had a deeper pullback as well as some other things one being the sp 500 and the Dow Jones and typically when those have some drastic pullbacks you’ll also see that reflected in the crypto market, which is kind of interesting because a lot of people say that the crypto market specifically bitcoin is that hedge against inflation is that hedge against the volatility of the stock market which is kind of funny because crypto is pretty darn volatile but nonetheless they were actually pulling back in tandem and they’ve done this before but the bitcoin and crypto market tends to rebound much quicker and some other coins that have recently been making big moves.

Now, is there a product out there that would allow big banks and financial institutions to allow trading and allow cryptocurrency offerings to their customers?

That is some major news and a major prediction if in fact all these major banks and all these major securities firms around the world are going to be looking to do that. Now you know why ripples actually launching this next year in 2022. It’s not just a lead generation product for their own ripple net and vice versa but in fact this is due to customer demand they saw this coming and they were absolutely determined to make it happen and if you’re still not a fan of XRP and where it may or may not go then you at least might want to put ripples IPO on your things to look out for list and finally the gm of ripplenet Ashish Brilla, he came out yesterday while at the decrypt well at the yahoo finance decrypt cryptocurrency conference with some strong words for the United States regulatory makers, he started that the United States regulars need to get with the program and actually create proactive regulations. He cited how ripple net’s volume is actually mostly overseas and that is because he points out to the fact that there are many other countries that already have regulatory clarity specifically for XRP and these aren’t new words. He’s actually echoing what of a lot of other CEOs and other Fintech CEOs are echoing for the U.S. regulators and that is to come up with some guidance to allow these Fintech companies to follow not only is that going to help the Fintech companies that is going to help investors figure out what they should and shouldn’t avoid.

Bitcoin is now in the midst of a flash crash this typically signals liquidations and within the last hour over 135 million in liquidations happened from exchanges, about half of that coming in Bitcoin and about 60 percent of that volume came directly from Binance.

XRP also had about 5 million in long liquidations of its own. So if you want to hop on the chart and see exactly why that happened, all you have to do is to go to buy bit liquidations.