Ripple: court decision in the case of cryptocurrency
29 / June / 22
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This upward movement is explained by several important events. One of them is the ongoing dispute with the SEC. Eleanor Terrett from Fox explained that important decisions are expected to be made in the near future, which will have a direct impact on the trial.
These include Judge Netburn's decision on whether emails and documents related to Hinman's speech in 2018 are covered by business secrecy.
In addition, last week Ripple Labs announced the opening of a branch in Canada. Initially, it is planned to hire 50 developers for the new site in Toronto. However, the company said that a rapid increase in the number of employees is expected :
"Initially, the company plans to hire 50 developers in Toronto with the aim of reaching hundreds of blockchain software engineers, including applied machine learning researchers, data scientists and product managers."
Technical guidelines of the pulsation course
Ripple managed to briefly exceed the 61.8 percent Fibo recovery at $0.3776 thanks to a dynamic recovery. However, it failed to reach the daily closing price above this level, and therefore, in the following days, it tested the support of a 50% Fibo recovery of $0.3604.
If yesterday's closing price is confirmed under this support, we should expect a downward movement in the direction of a 38.2% Fibo recovery at $0.3432.
If the closing price of the day exceeds 50 percent Fibo, a 61.8 percent Fibo recovery test is possible. In addition, you can aim for a 78.6% Fibonacci retracement in the amount of 0.4021 US dollars.
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