CEO of Ripple, Brad Garlinghouse, has once more ramped up his anti-regulatory rhetoric, saying that the situation of the XRP token is preventing the project from onboarding more institutional clients.
In a CNN International appearance, Garlinghouse said potential customers had been forced to “hold off” in response to a question by the host of the “First Move” program on CNN. Garlinghouse stated that questions on regulatory dynamics always came up with potential clients’ questions during discussions, saying that a promising client backed off from using the On-Demand Liquidity (ODL) facility as a result.
Ripple price has been in retreat since staging an astonishing spike last week. The XRPUSD pair is down 0.91% this Wednesday as it prepares to end the day lower for the 3rd straight session.
Technical Levels to Watch
Ripple price is now testing support at 0.59750 (30 November low). A look at the 4-hour chart shows that the 24 November low at 0.56777 is now in view and becomes the next downside target if 0.59750 breaks down.
Below this level, the 61.8% Fibonacci retracement from the swing motion of 18 November to 24 November comes into play at 0.53029. 0.50056 (22 November high) is also in the price picture if the decline continues.
On the other side of the equation, a bounce on 0.59750 allows Ripple price to dash 0.66600, with further targets at 0.72029 and 0.74484 also lining up as potential buyers seek new targets.
XRPUSD Daily Chart
