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Regulatory Clarity. Litecoin and Other Digital Tokens Are Not Securities?

  • Thomas Hughes
    📈 Price Predictions

    Congressmen Warren Davidson and Darren Soto will introduce a bill next week that would exclude digital currencies from being considered securities: the “Token Taxonomy Ac

Regulatory Clarity. Litecoin and Other Digital Tokens Are Not Securities?
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Congressmen Warren Davidson and Darren Soto will introduce a bill next week that would exclude digital currencies from being considered securities: the “Token Taxonomy Act”. The bill clarifies the fact that cryptocurrencies cannot be catalogued as securities once they become a fully functional network.

This would modify the Securities Exchange Act, adding a new definition for “digital tokens” and at the same time bringing much-needed clarity. However, there’s still a long way to go and the process will be tedious and marked by lots of changes to the bill. In the meantime, cryptocurrency prices are still rising.

Chart Analysis – LTC/USD

image

Similar to most other cryptocurrencies, Litecoin has slowed down its bullish pace, posting just a modest 0.55% gain for the last 24 hours at the time of writing. However, the gains for the last 7 days stand at more than 37%, so the fact that it’s moving sideways or even retracing shouldn’t be a problem.

The first support is located between 31.00 and 31.30, while resistance (and the next target) sits at 35.50. As long as support is holding, our view is bullish, aiming for a touch or break of 35.00 – 35.50. We may see retracements until that target is reached but if nothing important is broken, the upside should continue.

Support zone: 31.00 – 31.30 followed by the 50 EMA (red line)

Resistance zone: 35.00 – 35.50

Most likely scenario: move into resistance (possible retracements until target is reached)

Alternate scenario: break of 31.00, move into 50 EMA without break of the latter

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XRP Price Prediction: Will XRP Break $0.35 Resistance? No Silver Lining in the Cloud Is Found

XRP Price Prediction: Will XRP Break $0.35 Resistance? No Silver Lining in the Cloud Is Found
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Contents

Despite our hopes and beliefs, XRP fails to gain traction and stays about $0.32. Will it ever start growing, considering that BTC and altcoins are making considerable moves during the recent weeks? Let’s check out fresh Ripple XRP predictions to find out what to expect from it. tradingview users share their opinions and arguments about XRP price.

XRP reaches the point of consolidation

Watch XRP patterns closely

XRP price chart from CryptoManiac101

Look at the chart from CryptoManiac101: we can see there’s a strong pennant which might be considered by many to be a bear pattern. But after the formation of a pennant is over, there is a strong downtrend followed by heavy a consolidation phase which we're currently in. XRP seems to be bullish on this chart. However, before any considerable growth, we may see some more downtrend action.

This pattern is expected to break to upside or downside this month. Keep tabs on this technical indicator – it might help you to make further decisions.

A huge move is coming

XRP is about to go short

XRP price chart from russec2

A very interesting and detailed chart was proposed by russec2. Here, we see both short term and long-term perspectives. In the short term for XRP:

  • Looks like BTC before the last dump

  • Daily and 3D Stoch is falling

  • Energy lines are negative

  • Currently at the top of the big channel

As for the long term, daily RSI breakout has occurred and is now bouncing at the trendline. Thus, there’s a chance of XRP going short or higher. If Ripple goes short, BTC will do the same.

Is XRP finally triggering a breakout?

At least a $0.34 breakout should happen for XRP to grow

XRP price chart from DrDovetail

According to DrDovetail, there’s a Head & Shoulders pattern in the XRP chart, and the right shoulder is ending formation. The user anticipated the breakout point being right where this dotted green trendline converges with the neckline of the inverted head and shoulders pattern over a week ago. Finally, it seems to be closing, but first, we should see the price reach at least 34 cents to stay assured it is a legitimate breakout. We also need to watch for a good amount of bull volume.

XRP is going to $0.10?

XRP is very likely to drop to support

XRP price chart from AhmedAlii

AhdemAlii draws the following conclusion from the recent XRP behavior:

1. Bearish confirmation price to 0.28$ and 0.25$ is 0.304$. If you are more risk-prone and want to take advantage earlier, you can enter on a break of a 0.311$ price floor.

2. 0.32$ is current support and if EMA is used as support at this level, expect maximum upward activity to 0.335-0.34$ - a break above this level discredited lower high formation.

3. There is a chance we could be stuck in a range between 0.32$ and 0.35$ before any break.

4. Maximum upward potentials are at 0.35$ and 0.39$.

5. Final buy zones of 0.15-0.10$ are still in the books!

The current support price of 0.32$ was held up very well all in all and the price range was predicted very well with the ceiling coming in at 0.335$. Now we seem to be stuck.

So, what’s going to happen next?

1. XRP will most likely drop to supports at 0.32$ and thereafter, maximum upward capacity is to 0.377$ and even more so between 0.34-0.35$.

2. 0.304$ is still the bearish confirmation price to 0.28$ and 0.25$. The least conservative bearish confirmation price is 0.311$.

3. We are likely to test highs of 0.34-0.35$ conservative targets and even more so to 0.377$ increase before dropping to our downward targets of 0.28$ and 0.25$.

4. Our final buy zone still remains at 0.15-0.10$.

XRP/USD price chart from TradingView

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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