© Reuters.
Investing.com – Done! After 18 months and 6 court rulings, the US Securities and Exchange Commission (SEC) had no choice but to hand over the documents it had been asking for for a long time. These tie into the speech of William Hinman, then SEC Chairman, who spoke in 2018 about not being a title.
Ripple’s chief trustee, Stuart Alderoty, has announced that the Hinman documents are finally in their possession. However, these cannot be published at this time, as the authority has demanded that the documents remain confidential.
It is incomprehensible to anyone involved that it has taken so long to come to this day, because the SEC is, in its own words, synonymous with disclosure, clarity and transparency. Ripple CEO Brad Garlinghouse tweeted:
“The SEC intends to have you believe that it strives for disclosure, transparency and clarity. But don’t believe it. When the truth comes out, their rigorous approach will shock you.”
According to Ripple CEO Brad Garlinghouse, internal emails in preparation for the speech confirm that Ripple will emerge victorious from this lawsuit.
Technical thresholds to watch on Ripple
Ripple loses -4.77% at a price of $0.4395, while the weekly loss amounts to -12.19%.
The cryptocurrency tested both the 38.2% Fibo retracement resistance of $0.4639 and the 50% Fibo retracement support of $0.4352 yesterday. However, no break could be confirmed on one side or the other, the closing price of the day being between these two levels.
Today, trading is close to support so a retest is to be expected. If the 50 percent fibo retracement in terms of the daily close were to give way, the 55-day MA at $0.4195 would offer further support. Below that, focus would then shift to the 61.8% Fibo retracement at $0.4065.
Only if one manages to sustainably break above the 38.2% Fibo retracement can one expect an extension of the rally towards the 23.6% Fibo retracement of 0, $4994. This resistance is reinforced by the psychological level of $0.5000.
By Marco Oehrl