In general, there is a broad-based recovery in cryptocurrencies and that includes Ripple (XRP) coming at a time the company is dealing with three concurrent law suits. On the charts, prices are down three percent in the past day but still up 10 percent for the week. What we need for our XRP longs to be valid is a break above 55 cents and that will come to pass if this week ends up bullish in the process completing a three day bullish reversal pattern, the Morning Star.
From the News
Vladi Zakinov, David Oconer and Ryan Coffeyare three aggrieved Ripple coin investors who felt ripped off by Ripple, the company and are now suing for compensation. In their suits, they alleged that there is no difference between Brad Garlinghouse, Ripple Labs and the Ripple’s XRPII LLC, its money services wing. Ryan Coffey filled his in January, doing so on behalf of all XRP coin investors after losing more than 30 percent of their invested capital. The other two tabled their grievances recently. Overly, their arguments are simple: Ripple (XRP) is but a security.
Full article: https://www.newsbtc.com/2018/07/07/ripple-xrp-technical-analysis-3/
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All this FUD is to keep the XRP price down. Once the institutions have put the systems in place, they will let the price rise!
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