- Crypto analyst, XRPcryptowolf, took to Twitter to state that most of the scams are specifically targeted at the XRP community.
- XRP is priced at $0.4002, experiencing a fall of 2.97% in seven days, at reporting time.
- The journey of XRP is unpredictable as it stays between 50 EMA and 200 EMA.
The community has previously observed numerous scams revolving around the crypto sector, affecting security as well as presenting an opportunity for development. While the crypto community is researching to find the root cause, a crypto analyst, XRPcryptowolf, took to Twitter to point out that most of the scams are specifically targeted at the XRP community.
At the same time, the community started to pour in their thoughts. One user confirmed the notion which was expressed by the crypto analyst who stated, “it’s because of the XRP army’s mentality.” While many confirmed the crypto analyst’s remark, another community member addressed the requirement for regulation. Ripple Labs, in their quarterly reports, pointed out that their ongoing case with SEC is actually a battle for efficient regulatory frameworks for crypto in the US.
XRP is priced at $0.4002, experiencing a fall of 2.97% in seven days, at the reporting time. Moreover, the price of XRP stands in between the 50 EMA and the 200 EMA line. This indicates that XRP’s next movement is uncertain, as such, this could be a signal to wait for the formation of a trendline.
Furthermore, the RSI is valued at 38.75, which is an indication it is moving into the oversold region. However, this could also be uncertain as XRP could also shift its trend and move upwards and start riding with the bulls. In the event that XRP misses the oversold stop and starts its journey to the overbought region, then there would be a trend shift. On Saturday, XRP formed a double top pattern, which created an entry for the price to go downwards.
If the current movement is a start of a double bottom or inverse head and shoulder, then the gates to the bull race would be opened for XRP. However, only time will tell the actual target of XRP’s unpredictable journey.
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