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It has been a while since we have seen an XRP pump and this time it's pumping hard! Really hard. It's like XRP is saying "enough is enough"!
Whenever I see XRP pumps like this one, I would not miss to write about it! It is a must for me to share my thoughts and speculations! ;-)
Just out this morning when I woke up, I have read a very, very bullish XRP yet healthy news.
Read it here:
Two Fraud Allegations Against Ripple Dropped As XRP Lawsuit Moves Forward
So to sum it up, 2 lawsuits against XRP as a security has been dropped out. That's awesome! Isn't it? Through the years, XRP has been facing a lot of controversies. So taking down one of those is a breather.
The last time when XRP pumped really hard was on August 3, 2020 and from that moment on its price action went to a free-fall and sideways.
During on the dips, I have bought more XRP because I saw it as a chance!
In fact, XRPUSD is the biggest mover at the time of writing this article. It edges Bitcoin by a hefty margin.
From my July 16, 2020 XRPUSD long position's point of view, XRP's highest high was last August 17 hitting 0.32911 just 0.00089 of a shy for 0.33 cents!
So from a technical standpoint, XRPUSD must continue its current pumping and break above 0.32000 cent level in order to reach a fresh 100-day high. Who knows we might be able to see an exciting bull run for the XRP before the year 2020 ends.
I am speculating that XRP will surpass 0.30 cent level this week as the crossborder settlement cryptocurrency is gaining favors from Central Banks. Based on my own research, one of Ripplelabs newest partnership list is the company called TransferWise US but until the said financial institution sees a majority of banks using RippleNet payment technology then they will wait for its adoption.
But this news doesn't really bother me a lot honestly because it will not affect nor deny the fact that XRP is going to dominate the cryptocurrencies including Bitcoin sooner than we think as we are heading for the crypto regulation sooner and sooner.
Just a matter of time folks. So think twice and very carefully if you hodl Bitcoin and Ethereum.
I highly suspect that when XRPUSD price enters 0.32 cent territory, there will be a massive buying-ins! Why? Simple answer, it's FOMO or Fear-Of-Missing-Out. ;-)
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Thank you so much for reading my article! I hope you have enjoyed it.
Stay safe and God speed.
