Sean McBride, the former Director of Global Talent Acquisition at Ripple, has hinted at significant upcoming news for Ripple and XRP. McBride’s announcement, made via a post on X (formerly known as Twitter), has sparked a mix of excitement and skepticism among followers and investors alike.
His post stated: “Big news coming from #Ripple and #XRP in the next couple days,” setting the stage for speculation on what the news could entail and its potential impact on XRP’s market performance. However, the reaction to McBride’s announcement has been varied within the XRP community.
Big news coming from and in the next couple days
— Sean McBride (@seanmcbride16)
Wietse Wind, the founder of XRPL Labs—a company known for developing XRP Ledger-based projects such as XAMAN (formerly XUMM), a digital wallet, and Codius, a smart contract platform—responded with a hint of skepticism, implying concerns about insider trading:
Must be quite the news if it is worth entering insider trading territory.
Another community member, identified as Faisal, expressed a more cynical view, suggesting a pattern of temporary engagement with Ripple’s technology: “Another company using Ripple’s products as a ‘pilot program’ and then never actually using it after?” This sentiment reflects a broader skepticism that has occasionally surrounded Ripple’s partnerships and the actual adoption of its technology.
In response to the negative feedback, McBride’s was blunt: “Yeah, all you non Ripple shareholders can STFU because, yes, big news IS coming, already has come, and XRP is going to explode so piss off if you don’t have anything positive to say.” This statement indicates a strong belief in the significance of the upcoming news and its potential to positively impact the XRP price.
XRP Price Shows No Reaction (Yet)
As of press time, the XRP price has not shown any significant reaction to McBride’s announcement. This lack of immediate market movement may suggest that investors are adopting a wait-and-see approach.
In a technical analysis of XRP against the US dollar (1-day chart), the price shows a continuation within a descending channel pattern, indicating a bearish market sentiment. As of press time, the XRP price hovered around the $0.50 mark.
XRP downtrend halted for now, 1-day chart | Source:
The chart analysis reveals that the price of XRP is currently struggling below several critical Exponential Moving Averages (EMAs) – the 20-day EMA at $0.52319, the 50-day EMA at $0.55345, and the 100-day EMA at $0.56877. This EMA positioning suggests a strong resistance level for any upward price movement. Furthermore, the 200-day EMA at $0.56220, although below the 100-day EMA, still acts as a potential resistance zone.
Volume indicators show a relatively stable volume with a slight increase in selling pressure, as denoted by the red volume bars. The Relative Strength Index (RSI) is at 36.08, which is close to the oversold territory, but not yet indicative of a strong reversal signal.
Notably, the price is trading near the 0.786 Fibonacci retracement level at $0.49894, a critical support level in the short term. This Fibonacci retracement is drawn from the major swing high at $0.74902 to the swing low at $0.43085. The price has already breached the 0.5 ($0.58993) and 0.618 ($0.55239) Fibonacci levels, which were previously acting as support levels, and is now testing the 0.786 level for potential support.
The descending channel pattern is defined by two parallel lines, with the price making lower highs and lower lows, which is typically seen as a bearish signal. For traders looking for a bullish reversal, a break above the upper boundary of the channel and the nearest EMA would be essential. Conversely, a drop below the 0.786 Fibonacci level could see the price test the $0.43085 level, which is the recent swing low.
Featured image created with DALL·E, chart from TradingView.com
Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.
Read more
His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.
Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.
For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.
As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.
In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.
You can engage with his latest takes on Twitter: @realJakeSimmons.
Close
Disclaimer: The information found on NewsBTC is for educational purposes
only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any
investments and naturally investing carries risks. You are advised to conduct your own
research before making any investment decisions. Use information provided on this website
entirely at your own risk.
