- Ripple’s legal advisor has warned the cryptocurrency community of a potential market crash due to an impending SEC action
- XRP price action has shown that the token may be heading for bullish momentum in the near term
With the cryptocurrency market recovering briefly over the weekend, waves [XRP] Attorney John E. Deaton tweeted that the community needs to pay attention. According to the lawyer US Securities and Exchange CommissionLed by Gary Gensler, with crypto companies.
Deaton also noted that the SEC’s doubling of its workforce aims to depress the crypto sector.
some of us said @employee And that @employee It came after Crypto for two years. It literally doubled the amount of SEC staff dedicated to cryptocurrency and drove regulation by implementing non-fraud cases that @ripple @employee @employee And the @employee, For example, but not limited. https://t.co/4v1ijY4Cl4
– John E. Deaton (@JohnEDeaton1) December 4, 2022
Read waves [XRP] predict the price 2023-2024
In response to a tweet from Bitboy Crypto that mentioned the SEC’s relationship with the embattled founder of FTX, Deaton said the regulator was only concerned with enforcement rather than its primary duty.
Be careful! Another collapse may be imminent
Deaton expanded on the SEC’s action plan by pointing out that the SEC could be another notable exchange, which could affect the market Negation. He said,
“I think it’s more than that today because it can cause another 50% crash. Then the dominant operators take a bigger share.”
6 months ago @employee with@employee @employee @employee @employee You said Gensler would sue a major stock exchange or two for selling unregistered securities. I think it’s more than that today because it could cause another 50% crash. Existing companies then take a larger share.
– John E. Deaton (@JohnEDeaton1) December 4, 2022
In light of the development, XRP has deviated from the list of top cryptocurrencies with excellent performance. according to CoinMarketCapXRP is trading at $0.391 at the time of publication.
The token has struggled to deliver impressive performance even in the long run. It lost 20.88% in the last 30 days, and the last 7 days gave a slight increase of 2.70%.
However, the momentum of XRP means that the fight may not last for long. This was because the Awesome Oscillator (AO) was above the equilibrium level. This means that the momentum of XRP has been bullish. Also, since there were no twin peaks nearby, it indicated that a fall was not imminent.
Source: TradingView
The Moving Average Convergence Divergence (MACD) was below 0.00264. Although this value was positive, the selling power (orange) and buying power (blue) were below the zero point graph. However, as the buyers showed more control, it indicated that XRP was seeing a significant bullish edge.
Any way forward?
Despite the bull potential, Ripple has not done an iteration like this with NFTs. feelings He revealed that NFT trading volume was at its lowest level since November 13th. At the time of publication, the NFT volume was only $17,300, and this low value made the holdings under the Ripple chain not look attractive enough for investors to trigger buy triggers.
Source: feeling
As for her battle with the regulators last send Show that the end was almost here. However, there was no certainty as to who would integrate the visitors, despite objections from Ripple The Supreme Education Council’s proposal to issue an urgent ruling.