🚨 RIPPLE POSSIBLE WIN 🚨 XRP ANALYSIS & UPDATE | CRYPTO NEWS TODAY 021021
My intention, as long as all things go well, as many of you know, im still a little bit under the weather, so im aiming to get three videos across the line, starting with xrp in this video were going to take a look at whats, been going on. Most recently, with ripple versus the sec as ripple take another swing and line up a potential win, so were going to dive into that and see exactly what is going on. There then well dive into technical analysis, see what kind of resistance and what we might think might be on the horizon next for xrp guys as we get into this video, if you do find it useful and informative hit that like button, i really do appreciate that, If you happen to be new, why not go ahead and subscribe tap that bell select all notifications, and in doing so you will be kept up to date with absolutely everything that we do here at cheeky crypto with that said, done and out of the way lets Dive down into whats, going on most recently with the sec and ripple and so guys, basically uh ripple, take another swing at the sec in the lawsuit indicating a potential win, and so in the latest tactic, or its latest tactic in the battle against the u.s securities And exchange commission ripple has claimed a lack of deliberate, a deliberative preceding privilege or dpp and form the agency, notably a dpp is a common law principle that protects a government agency from the disclosure of certain information.
Previously, a former director, um or sec director, william hinman, gave a speech in which uh he accepted bitcoin and ether from being securities for some years that the secs officials did refer to his speech as evidence that the regulator was giving guidance to the industry. However, the sec later declared the speech was a personal opinion and not its official policy ripple now seeks to prove that the sec is backtracking using three documents so judge netburn um, who has been presiding over the sec versus ripple case, is expected to review the secs Documents uh thereafter, she will rule on whether they are actually privileged information under dpp or not right. On top of that ripple filed three additional documents considering highly relevant to their defense a week after the offer mentioned argument. Um and the documents show an email correspondence between the regulator and a third party. Reportedly, the sec guided uh the third party to analyze xrp under a framework brought on by hinmans 2018 speech right. So pretty important thing to kind of acknowledge, so really expected to kind of see how that kind of unfolds. But you know its not looking too good for the sec right now and um are they are ripple likely to win the experts? Do you think so right? So, according to many of the experts, the documents could single handedly prove that the speech was not a personal opinion, but rather the secs official policy on digital assets, such a revolution, uh or revelation, i should say, um – could set out the foundation for the defense of A ripple right so um.
Basically, this could see the defendants win overall and its not just the ripple community that awaits such a positive role in, but also the greater crypto community right, because this has a huge impact on the entire crypto space. So what happens here with the sec versus ripple is absolutely critical and obviously we want to see ripple win this one for the entire crypto space um. If, however, you know something does go sideways and uh ripple were to lose this one, it basically gives uh president and kind of um. You know free reign to the sec to go after more and more crypto currencies and basically just keep suing and sleep suing and basically turning the whole entire industry into you know a bit of a joke, so i think its really critical and really important that ripple Win this one uh, i do think they are likely to. I think the sec. Once all this kind of stuff kind of gets put to bed uh theyre, going to try to settle uh ripple are probably not going to want to settle if it doesnt include clarity. Its the thing that theyve been after for years, uh that the sec have been unwilling to actually provide, and if they, if that clarity is not included in the settlement, ripple, wont settle. Theyll just allow this thing to go all the way through, because they my opinion. They do have the competitive edge right now against the sec, so really good stuff going on.
In the background guys, this will have an impact on the price of xrp over time and well get into the um into the technical analysis. Now guys, because theres a few things in here, its also worth kind of just acknowledging right, because we have two fibs ive – talked about this quite a few times and what my expectations are. We have the all time high to bear market low on this uh. This flip over here on the left hand, side. Okay, so basically go down to the bear market low of march 2020 and obviously starting at the all time high right and when we take that into consideration this all time, high area uh down to the bear market low. This actually shows us moving up to about 15.91. This move, if i just move our little price target here, it comes in at 1, 427 from the current position. Okay, so that would be, in my opinion, once the lawsuit is finished thats, where this kind of comes in okay and if the lawsuit is still going going, its going to be really difficult to kind of see that level of adoption. You need to be listed on more exchanges. We need to see a bit more kind of traction with xrp. We need to see a community really rallying behind it because its not classed as a security and at least from the us i mean everywhere else in the world, its its, not a security anyway right its only the us that seem to have this one backwards and That being said, uh we do have have a fib based on the current performance thats this one over here, and this one runs from the high up here.
I think it was april uh, 14th and down to the low of our recent correction. This comes in on the 22nd of june, so this performance has an extension of uh, 6.68, okay, so again, thats based on the current performance. Now this to me seems like a pretty reasonable expectation based on the fact that we have a lawsuit ongoing and if it doesnt finish before the ball run, ends then thats kind of where i put xrp kind of finishing right um, with the lawsuit kind of you Know in the work still kind of grinding the gears and all that kind of stuff overall 6.68 would be my kind of uh worst case scenario for xrp during this particular run. Okay, we are up against resistance right now and again, thats not too much of a problem. Um and again, you know. If we do see, settlement then were off to uh to see some pretty good kind of price expectations, as things really rally up nicely, and so overall, if i just expand this up a little bit, we can see here that we do have uh. You know some resistance being found, so yesterday we came up to the 1.7 area. This was an area that we were often uh finding as a support line for us. Previously we were trading around this. We lost it recently. We found this downward trend. We started to rally back to the upside. We found this resistance line right.
We are, of course, overbought now up in our daily okay. This is perfectly fine. We can be up here for quite some time, as we hadnt acknowledged this previously, with this run just over here. Okay, so being up here, isnt a problem but uh well see you know at some point in the future. We will look to wipe out that stochastic and bring us down to the lower side. Now, what were going to do is just throw up our um io dashboard for those who are unfamiliar evay.io. They use artificial intelligence and machine learning to help us understand the underlying value of cryptocurrency link in the description below completely free sign, up, um and basically youre, going to be able to understand whats going on at a deeper level with your cryptocurrencies. So in this case were taking a look at xrp here we can see the fear in greed. Index is a rating of d, so theres a lot of fear for xrp. At the moment, uh we can see the ami had ratio is a c2. So again, there are liquidity based problems as well. This usually goes in hand with the fear and greed index. That being said, also, the fact that its not on as many exchanges also has an impact on liquidity overall and so again it doesnt surprise me too much that there are some liquidity based problems when it comes to xrp right now, as we shoot down here, we Can see that the moving averages have been affected there are c2 makes sense, because again we have the same problem: right, weve reduced the price down, people are selling off and that affects your moving averages.
It almost comes self fulfilling. This is a metric that is going to decline with long with the fear in the space. Now, as we come on down here, we have peak end value demand at b2, so pretty neutral there, no problems with that the profitability is an a1 the best it can be, and again this makes sense right because were buying xrp at 10 cent, and it goes And you know shoots up to over a dollar right, so obviously the profitability is off the charts right. So thats, a good ball run signal to say: yes, we have an a1 profitability and thats looking pretty good. The sharp ratio is the most interesting metric on here. For xrp today, and that comes in as your risk reward ratio, the risk to holding xrp versus the reward of holding xrp. This is in our favor. The risk reward ratio is an a2 rating saying actually there is limited risk and more upside to holding xrp than there is risk right. So right now we have a 50 day moving average. Well, above that, and so again, this is actually looking like a pretty good metric to kind of uh acknowledging the fact that there is fear in the space and it doesnt really warrant it, considering how much the risk reward ratio. This sharp ratio is in our favor. So, overall, im pretty happy with my investment in xrp. Many people know its my biggest bag um, although it has actually kind of deviated away from that spot.
A little bit im, not gon na lie. Multivac seems to have has recently kind of trumped xrp on my portfolio, but um well see how long that lasts, um well, see well see but uh. Nonetheless, um xrp has been performing well overall and uh theres. Obviously, a correction that we have seen most recently has affected many cryptocurrencies, including xrp um. So overall this is um. It should be a bit of a warning to say that we should be expecting volatility uh in the market of xrp until we get that fear and greed under control and the liquidity under control. The rest of this is not a problem. Okay, so for us right now, we want to see the exchanges sort. Their acts out get their acts together, make sure the liquidities arent a problem, make sure that those um decentralized exchanges have plenty of liquidity as well and again make sure that the fear and greed index is actually aligned to whats going on in the space. I do anticipate that fearing index for xrp is going to change dramatically soon and we should start to see this thing rise up nicely, and so, when we jump back to the charts here, we jump into our hourly chart. Here we can see that we are, of course, in the overbought area, as we come up to the resistance lines here right now. The resistance that were fighting is 105.. Okay, so were basically 1.05 is the resistance line we are looking to pull back down.
I reckon that we need to wipe out this stockastic rsi bring it down to the over sold area and we are at 97, so we can stay up here for a bit longer. We are only just really up here so again, im not looking for an immediate reversal. We can trade sideways and uh if we actually throw the volumes on here. What were looking for here is. We had a good increase in the volume and we looked to decrease that volume, although the fear in the space might not allow that, and but obviously you know with liquidity based problems makes it harder to sell. So again, we could start to see this. Can trade sideways? Maybe we find support on one dollar and two, and then we move on up the main thing that we want to break past is the 107 and get this past. This 107 turn that, in back into a support line and then move on up from there, okay, so we want to pull back uh briefly push on up past 107, pull back to 107 test it as support and then move on up from there. Okay, nothing moves in straight lines. You can see this here. We moved past 102, we back tested on 102. We actually turned into resistance, moved back past it again and then moved on up right. We dont uh, tend to um, go in straight lines. Right. We have moments where we go in straight lines, but overall uh we look to move up, we look to come back down and then we look to move up again.
Okay, so overall everything on the daily is looking pretty good and the hourly is not too bad. Either and but do expect some more volatility until that fear gets sorted out in the space, but overall im not too worried about xrp. I often find myself if i get too worried about whats going on on the hour. Lead zoom out, take a look at the daily make sure you are aligned to where were thinking. Things are going uh in terms of uh the fibonacci retracement tools, taking a look at the 4.236 etcetera. Now, of course, there is a cup and handle here and again we can. We can load this up for a moment were going to take it from this moment. Here you can see that basically we have a cup and then we have the handle and where this takes us right, so this cup and handle pattern. If i actually go ahead and grab hold of my fib and throw this down, we can start to see where things are going right. So um, basically with a cup and handle pattern, form uh. When you get the right hand, side of your cup and the bottom of your cup here, you can put a fib on there and basically, you rally up to the 1.618 okay. So basically, your cup and handle pattern goes like this. You come down. You form your cup, you form your handle and then you shoot on up to your 1.
618 area. Okay, so for xrp um, you know we are targeting 1.97 technically here, um, so basically the the previous high area that we had here just here. This highlighted there we are just there, okay, so thats. What were looking for in that cup and handle pattern so were just looking to complete that move on up to there right. But in order to do that, do expect a little bit of volatility to get that fear and index resolved, and then we should be moving up nicely to this area here and hopefully id like to think october its going to be a pretty good strong month. So um, if it doesnt quite get there in october, do expect it. In november, xrp usually lags behind a little bit on many of these altcoins, usually one of the last ones to go, and but is usually also one of the stronger performers as well. If 2017 is anything to go by so overall everythings looking pretty good, we do have a good target here and associated with the cup and handle, and we should be looking to target that, hopefully by the end of um. Well, the end of october, with a bit of luck, so everything going well, we obviously have some pretty interesting things going on with the sec uh ripple. We have some pretty good things going on here with xrp overall, and we should be looking to see some pretty good price discovery or price recovery.
I should say um with xrp as we complete the cup and handle pattern um and go into november in a really strong way, guys im gon na leave it there. But hopefully you have found this video, useful and informative.