-AD-
-AD-
HomeNewsRipple IPO Delay Sparks Speculation: SEC and BlackRock Ready for Crypto Buying...

Ripple IPO Delay Sparks Speculation: SEC and BlackRock Ready for Crypto Buying Opportunity

- Advertisement -
  • Fintech market struggles could delay Ripple’s IPO, impacting the broader crypto industry.
  • Ripple faces critical support at $0.54 as it attempts to rebound from a recent price correction.

Renowned crypto commentator Collin Brown, also known as @CollinBrownXRP, has highlighted a potential delay in the much-anticipated Ripple IPO. Brown points to current market dynamics and heightened regulatory scrutiny, especially focusing on crypto exchange giant Binance, as the primary reasons behind this delay.

These factors, he suggests, might create an opportunity for major Wall Street players to enter the crypto space and acquire assets like Bitcoin and XRP at more favorable prices.

Ripple’s IPO and the Fintech Landscape

Dushyant Shahrawat, Director of FinTech Investment Banking at Rosenblatt Securities, has expressed concerns about the overall performance of fintech companies. Stock values of prominent fintech firms have declined, impacting investment decisions across various development stages. This struggle in the fintech sector could potentially delay IPO plans, including Ripple’s, as the bearish trend casts uncertainty on companies considering going public.

Ripple’s Price Correction and Key Support

Ripple’s daily chart reveals challenges in surpassing the $0.74 mark, resulting in a corrective phase. The price has retraced toward a crucial support zone, including the 100 and 200-day moving averages and the significant level of $0.54. This zone is vital for Ripple’s future price movements. Analysis suggests potential consolidation and volatility around the $0.54 support, with the possibility of an uptrend if buyers re-enter the market.

Short-Term Prospects for Ripple

A closer look at the 4-hour chart shows Ripple encountering resistance in a critical zone defined by Fibonacci retracement levels. Increased selling pressure in this region triggered a downturn, marked by an extended retracement. The price may find support along its multi-month ascending trendline and the static support region around $0.48. However, breaching the 0.618 Fibonacci level could lead to significant upward movement.

In conclusion, the Ripple IPO delay, influenced by fintech industry challenges, has drawn attention. Technical analysis indicates Ripple’s price at a critical point near the $0.54 support level. These developments will be closely monitored by investors and crypto enthusiasts in the coming weeks.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Nikita Dmitrievich
Nikita Dmitrievichhttps://www.ethnews.com/
Nikita, a young and ambitious crypto investor who has been actively involved in the cryptocurrency world for the past 6 years. With a keen interest in blockchain technology, Nikita has been investing in various cryptocurrencies and has seen significant returns on his investments. He is passionate about educating others on the potential of cryptocurrencies and frequently shares his insights on social media platforms. Nikita believes that cryptocurrencies are the future of finance and is constantly researching new projects to invest in. With his dedication and knowledge, Nikita is quickly becoming a prominent figure in the crypto community. Business Email: info@ethnews.com Phone: +49 160 92211628
RELATED ARTICLES

LATEST ARTICLES