Too Big to Fail: Is Ripple Gleaning Inspiration from its Own Customers?:
Is Ripple’s XRP too big to fail?
This article analyzes why it may be too late for XRP to be classified as a security.
How low can Litecoin go?
We’ll also take a look at Litecoin’s price action. How low can the silver to Bitcoin’s gold go?
In his article on Monday, Crypto Briefing senior journalist, Paddy Baker reported how two independent legal experts believe Ripple’s XRP may not be the immediate focus of the SEC. As they go through their naughty lists, the regulators may instead focus on up-and-coming or current tokens, instead of those like Ripple that have long been integrated with the cryptocurrency market.
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Michael Minihan: “The thing with XRP is it’s almost like a too big to fail, too far along.”
One of the experts, Michael Minihan, told Crypto Briefing that XRP is “almost like a too big to fail, too far along” thing. He believes the SEC is trying to protect the investors rather than tanking the market, and with that, Ripple may have escaped a security classification. I did a thorough analysis of XRP in yesterday’s video, so for today, let’s switch gears and take a look at Litecoin dropped 20% in the past 7 days, ranks 9th in terms of market cap Litecoin, which has dropped all the way down to the 9th largest crypto by market cap. In the past week, Litecoin has dropped over 20 percent, but this amount is actually not that bad comparing to Bitcoin Cash’ 40% and Stellar Lumen’s 37%.
Looking at Litecoin’s price action versus the USD on the weekly chart you’d notice that the crypto is testing a key support level at around $30, which acted as a resistance all the way back in December 2013. At the speed Litecoin is dropping, we could very well see further losses towards the next support levels at $21 and even $5. Of course, such volatilities are nothing new to the cryptocurrency market, and while past performance is not indicative of future results, the chances of Litecoin recovering in the new year along with other cryptos remains high. Now I’d like to hear from you. What are your thoughts on XRP and Litecoin? Let me know in the comments, subscribe, and tune in again tomorrow for more updates.