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The European Commission has adopted stricter visa rules for Russian citizens.Indian government: Indias fuel sales in October fell 0.4% year-on-year to 20.17 million metric tons; diesel sales fell 0.3% year-on-year; and gasoline sales rose 7.4% year-on-year.On November 7, local time, Russian Presidential Press Secretary Dmitry Peskov stated at a daily briefing that the Kremlin would not comment on US President Donald Trumps remarks regarding so-called progress in resolving the Russia-Ukraine conflict. Peskov pointed out that the lack of mutual trust between Russia and Ukraine is one of the factors hindering the resolution of the Ukrainian crisis. Peskov stated that both Russia and the US remain interested in holding a summit between their leaders in Budapest, but such a meeting requires careful preparation.U.S. stock index futures all turned lower, with S&P 500 futures down 0.1%, Nasdaq 100 futures down 0.1%, and Dow Jones futures down 0.1%.On November 7th, the Bank of England voted by a narrow 5-4 majority to keep interest rates stable at 4%, putting pressure on the pound. Five of the nine members of the Monetary Policy Committee (MPC) voted to maintain the current rate level, compared to expectations of six. Deputy Governor Briden voted against it for the first time, joining members Dinglar, Deputy Governor Ramsden, and Taylor in supporting a 25 basis point cut. In its monetary policy statement, the Bank of England warned that "weak demand could drag on inflation over the medium term," and that "the risks of persistently high inflation have recently become less apparent." Meanwhile, Governor Bailey reiterated that the monetary policy path remains tilted to the downside. However, he emphasized that officials need to see "a more solid downward path for inflation before cutting rates again." Signs that UK price pressures have peaked are expected to increase expectations of another rate cut by the central bank this year.

XRP Must Return to $0.48 to Challenge the Bulls at $0.50

Daniel Rogers

Nov 07, 2022 17:49

 截屏2022-11-07 下午5.46.11.png

 

On Sunday, XRP fell 4.50 percent. Following a Saturday drop of 2.51%, XRP closed the week up 2.95 percent at $0.47113. Bearish mood from the crypto market as a whole weighed as investors secured profits before a busy week. Technical indications are optimistic, with XRP trading above the 100-day exponential moving average (EMA), indicating a rebound to sub-$0.50.

 

On Sunday, XRP fell 4.50 percent. Following a Saturday drop of 2.51%, XRP closed the week up 2.95 percent at $0.47113. Notably, XRP halted a three-week losing record, which was its longest losing streak since May's nine-week losing streak.

 

Despite a mixed opening to the day, XRP climbed to an early high of $0.49461. XRP reached a 1-hour low of $0.46763 after failing to surpass the First Major Resistance Level (R1) at $0.5056. At $0.4854 and $0.4776, XRP broke through the First Major Support Level (S1) and the Second Major Support Level (S2). However, avoiding prices below $0.46, XRP established support at $0.47113 before day's finish.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads beginning at 0 pips and commissions of $3.50 every 100k traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

There were no new developments in the SEC v. Ripple case for investors to ponder on Sunday.

 

With the Court accepting the SEC's request to extend the deadline for all parties to file Reply Briefs until November 30, holders of XRP risk increased uncertainty.

 

The Defendants have made significant progress, and court decisions have given them the upper hand. However, a prolonged case could give the SEC time to craft its strategy.

 

The Court will no longer accept Amicus Briefs after November 11, therefore we anticipate an increase in requests and submissions this week. However, the impact of the Amicus Briefs on XRP has been minimal. Investors must evaluate how the SEC will approach each issue and how the Court will evaluate the content.


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