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On January 9, local time on January 8, US President Biden visited California and listened to the report of the California Fire Department accompanied by California Governor Newsom. The US federal government dispatched more than a dozen aircraft and helicopters to participate in the rescue. The US Forest Service also prepared dozens of fire trucks and will deploy them as needed. Biden also instructed the US Department of Defense to provide additional assistance.U.S. Department of Defense Deputy Spokesperson Singh: Although we do not believe that North Koreas ballistic missile launches pose a threat to U.S. troops, we will continue to monitor the situation.On January 9, as of the close of the day on the 8th, the price of light crude oil futures for February delivery on the New York Mercantile Exchange fell by 93 cents to close at US$73.32 per barrel, a drop of 1.25%; the price of London Brent crude oil futures for March delivery fell by 89 cents to close at US$76.16 per barrel, a drop of 1.16%.U.S. Department of Defense Deputy Spokesperson Singer: There is no doubt that support for Ukraine remains strong within Congress.On January 9, the U.S. dollar index, which measures the U.S. dollar against six major currencies, rose 0.5% that day and closed at 109.090 at the end of the foreign exchange market. As of the end of the New York foreign exchange market, 1 euro was exchanged for 1.0309 U.S. dollars, lower than 1.0355 U.S. dollars on the previous trading day; 1 pound was exchanged for 1.2357 U.S. dollars, lower than 1.2490 U.S. dollars on the previous trading day. 1 U.S. dollar was exchanged for 158.46 Japanese yen, higher than 157.78 Japanese yen on the previous trading day; 1 U.S. dollar was exchanged for 0.9117 Swiss francs, higher than 0.9086 Swiss francs on the previous trading day; 1 U.S. dollar was exchanged for 1.4389 Canadian dollars, higher than 1.4347 Canadian dollars on the previous trading day; 1 U.S. dollar was exchanged for 11.1612 Swedish kronor, higher than 11.1091 Swedish kronor on the previous trading day.

XRP Must Return to $0.48 to Challenge the Bulls at $0.50

Daniel Rogers

Nov 07, 2022 17:49

 截屏2022-11-07 下午5.46.11.png

 

On Sunday, XRP fell 4.50 percent. Following a Saturday drop of 2.51%, XRP closed the week up 2.95 percent at $0.47113. Bearish mood from the crypto market as a whole weighed as investors secured profits before a busy week. Technical indications are optimistic, with XRP trading above the 100-day exponential moving average (EMA), indicating a rebound to sub-$0.50.

 

On Sunday, XRP fell 4.50 percent. Following a Saturday drop of 2.51%, XRP closed the week up 2.95 percent at $0.47113. Notably, XRP halted a three-week losing record, which was its longest losing streak since May's nine-week losing streak.

 

Despite a mixed opening to the day, XRP climbed to an early high of $0.49461. XRP reached a 1-hour low of $0.46763 after failing to surpass the First Major Resistance Level (R1) at $0.5056. At $0.4854 and $0.4776, XRP broke through the First Major Support Level (S1) and the Second Major Support Level (S2). However, avoiding prices below $0.46, XRP established support at $0.47113 before day's finish.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads beginning at 0 pips and commissions of $3.50 every 100k traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

There were no new developments in the SEC v. Ripple case for investors to ponder on Sunday.

 

With the Court accepting the SEC's request to extend the deadline for all parties to file Reply Briefs until November 30, holders of XRP risk increased uncertainty.

 

The Defendants have made significant progress, and court decisions have given them the upper hand. However, a prolonged case could give the SEC time to craft its strategy.

 

The Court will no longer accept Amicus Briefs after November 11, therefore we anticipate an increase in requests and submissions this week. However, the impact of the Amicus Briefs on XRP has been minimal. Investors must evaluate how the SEC will approach each issue and how the Court will evaluate the content.


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