In a recent analysis, Crypto enthusiast Dark Defender highlighted a bullish perspective on Ripple’s XRP and the shifting global monetary landscape. While skepticism surrounds XRP, Dark Defender argued that emotions have no place in the world of finance, and historical patterns suggest a potential resurgence for cryptocurrency.
I know significantly few people now believe in #XRP. Most of you might have already thrown up the sponge & said bye-bye to XRP
— Dark Defender (@DefendDark) July 13, 2023
But let me tell you something, the monetary world doesn't have feelings. When the time comes, it does what it is supposed to do.
XRP could still touch…
The focal point of the discussion revolved around the Securities and Exchange Commission’s (SEC) lawsuit against Ripple. Dark Defender questioned the rationale behind singling out Ripple among thousands of other projects, suggesting that this move might be part of a larger, more significant challenge the financial world is currently facing.
According to Dark Defender, the USD, long considered the dominant global currency, is now facing a decline. Nations are reportedly transitioning away from paper-reserved currencies and moving towards a gold-backed cryptocurrency system. This impending shift is likened to the historic Bretton Woods agreement, which introduced the convertibility of national currencies into the US dollar.
Dark Defender asserted that a new monetary order is on the horizon, where traditional currencies like the USD, Euro, and Pound would lose their dominance. In this new landscape, cryptocurrencies backed by gold, including XRP, are predicted to take center stage. The anticipated “Wave 3” in XRP’s value is a catalyst for gaining broader acceptance and belief in its potential.
Amidst the global changes in the financial sector, Dark Defender’s confidence in XRP and Ripple remains unwavering. Trusting in mathematical principles and highlighting the advancements in the crypto space, Dark Defender expressed excitement about the emergence of a new financial system.
As the world waits to see how the SEC lawsuit unfolds, Dark Defender’s perspective serves as a reminder to consider the broader context. While the future remains uncertain, the potential for XRP to touch $0.29 and eventually reach $3 cannot be discounted based on historical patterns.
Today’s Ripple price analysis shows a bearish sentiment in the market due to weak buying pressure. At the press time, XRP is standing at $0.4737 and has lost 1.06 percent over the last 24 hours. The previous day the bulls had successfully pushed XRP/USD towards the $0.4751 level, where it found resistance. However, today, the bears have used this level as a launching pad for a downward move.
The support level for the digital asset is present at $0.4679, which was breached earlier today. If it continues to stay below that level, then the bears would continue to dominate the market. However, if the bulls manage to push the price above the current resistance level of around $0.4751, then XRP/USD could make its way toward $ 0.4800 again.
On the technical side, the 20-SMA has crossed the 50-SMA from the upside, indicating a bearish crossover. The Average Directional Index (ADX) is in bearish territory, with the +DI line crossing below the -DI line, and the ADX is currently below the 20 level at 13.32. The relative strength index (RSI) has fallen below 50 and is currently standing at 46.84, indicating that the Ripple market value is under immense selling pressure.
