Dear traders,

After bad news about the SEC suing Binance, the crypto market experiences a strong dump. What is next within the trading range?

Jake
TOP Trader

BTC dropped hard after the news about Binance and the SEC and is now consolidating at the mid-range of 25k. The short target is still 25,200 and potentially even lower at $24,400. What is the next significant support?

ETH holds up well after a significant drop and is now trading below the $1,820 resistance. If the drop continues, the price could quickly reach $1,700 as a larger drop is expected.

XRP shows strength after a big drop and is currently trading at $0.5, demonstrating potential for a push upward if it manages to hold this level.

LINK hits the short target of $6 and is currently holding above it, suggesting a possible bounce back up and looking good for a long entry.

SOL, after hitting resistance at $22, found support at $20 and needs to hold it if it wants to make another attempt to push higher.

EOS dropped significantly and is now trading in the mid-$0.8 range. It needs to break the resistance at $0.86 for a larger recovery, or the next target is $0.79.

LTC dropped rapidly and heavily, and it is now hitting resistance at $88. Currently, it does not look promising for a bigger push upward. However, in 50 days, there will be a halving event in LTC, which suggests a considerable price increase due to the reduction in mining supply. This presents a great investment opportunity to hold!

The DXY is still struggling with the 104.3 resistance, and once it breaks, it could push strongly towards 105 and even higher.

Crypto/stock daily news:

XRP LAUNCHED 11 YEARS AGO

Pssst! It’s a certain someone’s birthday…

At the ripe old age of 11 is… XRP. AKA the 6th largest cryptocurrency by market cap created by Ripple’s founders.

Meanwhile, I ate too much cake and vomited in the bouncy house on my 11th birthday.

To celebrate, let’s go down memory lane – and see where XRP’s headed.

1/ XRP was created before its founders built Ripple

The two are technically separate from each other. Ripple just holds most of XRP’s 100B supply (the founders hold the rest.)

Ripple’s known for cross-border payments. Banks like BoA & Santander use its RippleNet (real-time platform) for that.

It’s built on XRP Ledger, the blockchain that the XRP token is native on.

Oh and Ripple was co-founded by the same guy that created Mt. Gox. #UltraFunFact

2/ Critics have called the XRP network not truly decentralized because:

• Only an approved ~1,500 people validate transactions. Versus anyone being able to validate on Bitcoin, etc.

• XRP tokens haven’t been created since 2012. Ripple’s founders hold the power to release some into circulation every month to keep the supply stable.

3/ XRP’s price peaked at $3.84 after the 2017 crypto bull run

Then the 2018 bear market dragged it down, and…

4/ The SEC sued Ripple in 2020.

It said founders were illegally offering XRP as an unregistered security. Exchanges like Coinbase delisted the coin.

So what will its 12th year look like? Well, the SEC/Ripple lawsuit is due to wrap up this month… and Ripple’s expected to win.

That prediction has already been driving XRP’s price up in the last few months.

You know what that means! We’re hittin Vegas for the next birthday, baby.

FAST NEWS:

A crypto founder was found dead this week. John Forsyth founded ONFO coin and had been missing for a week.

The OpenAI CTO’s Twitter account was hacked to promote a fraudulent crypto token. So was Fortnite’s official Twitter account. C’mon Elon…

Nike’s dot swoosh is teaming up with Electronic Arts sports. We’re HERE for that Web3 gaming interoperability

Circle’s launching a native USDC on Arbitrum next week. It’ll make it a lot faster to trade.

Final words:

Market nuke with news about Binance and this could be beginning of bigger push down to old trading range.

Copy trade GROW 0.1->10k$ since 18.03 we got +59% PROFIT what is great for start!

You can check my trading web page with lots of trading information.

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Sentiment Is now BULLISH and real test for bulls are this week.

Not Financial Advice!

Good luck with trades!

Author

Jake
TOP Trader