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Ether (ETH) and Ripple (XRP) on Guard Ahead of SEC Developments
The cryptocurrency market is currently building a trading range, with a slight upside bias, testing and breaking resistance levels along the way. Volatility and volume remain low in the main due to a lack of fundamental market-moving news. In the case of Ether (ETH) and Ripple (XRP) that may be about to change if talk that the SEC is studying the pairs classification is correct. If either, or both, are seen as securities under SEC regulations, then volatility will return in short order with prices expected to fall. The unregulated exchanges which currently host ETH and XRP may be unwilling to continue to keep trading the tokens if they are seen as securities as heavy regulatory scrutiny and fines would follow. Ripple is predominantly traded in Korea while Ether has mass adoption across a range of exchanges.
Ethereum Drifting Ahead of Any News Flow – (September 2017 – May 9, 2018)
Ripple (XRP) Chart Breakdown Points to Further Losses
Ether (ETH) Price Stall; Rattled by Ongoing SEC Talk
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— Written by Nick Cawley, Analyst
To contact Nick, email him at nicholas.cawley@ig.com
Follow Nick on Twitter @nickcawley1
