Talent

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. 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 Big news coming from <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Ripple</a> and <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#XRP</a> in the next couple days 
 — Sean McBride (@seanmcbride16) <a href="https://twitter.com/seanmcbride16/status/1754929305015222359?ref_src=twsrc%5Etfw" rel="nofollow">February 6, 2024</a>
</blockquote> 
Wietse Wind, the founder of XRPL Labs—a company known for developing XRP Ledger-based projects such as XAMAN (formerly <a href="https://www.newsbtc.com/analysis/xrp/xrp-ledger-developer-xumm-reveals-infrastructure-overhaul-more-than-an-upgrade/" target="_blank" rel="noopener ">XUMM</a>), a digital wallet, and Codius, a smart contract platform—responded with a hint of skepticism, implying concerns about insider trading: 
<blockquote>
 Must be quite the news if it is worth entering insider trading territory.
</blockquote> 
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 ‘<a href="https://www.newsbtc.com/news/western-union-pilot-small-get-results-ripple/" target="_blank" rel="noopener ">pilot program</a>’ 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 <a href="https://twitter.com/seanmcbride16/status/1754933931747770790" target="_blank" rel="noopener nofollow">retort</a> was blunt: “Yeah, all you non Ripple <a href="https://www.newsbtc.com/analysis/xrp/xrp-unlikely-to-suffer-from-ripple-ipo-crypto-author-says/" target="_blank" rel="noopener ">shareholders</a> 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. 
<h2 id="xrp-price-shows-no-reaction-yet">XRP Price Shows No Reaction (Yet)</h2> 
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. 
<img loading="lazy" decoding="async" class="wp-image-573826 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/02/XRPUSD_2024-02-07_12-23-14.png?resize=3628%2C1672" alt="XRP price" width="3628" height="1672" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/XRPUSD_2024-02-07_12-23-14.png?resize=3628%2C1672?w=3628 3628w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRPUSD_2024-02-07_12-23-14.png?resize=3628%2C1672?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRPUSD_2024-02-07_12-23-14.png?resize=3628%2C1672?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRPUSD_2024-02-07_12-23-14.png?resize=3628%2C1672?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRPUSD_2024-02-07_12-23-14.png?resize=3628%2C1672?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRPUSD_2024-02-07_12-23-14.png?resize=3628%2C1672?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRPUSD_2024-02-07_12-23-14.png?resize=3628%2C1672?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRPUSD_2024-02-07_12-23-14.png?resize=3628%2C1672?w=1140 1140w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRPUSD_2024-02-07_12-23-14.png?resize=3628%2C1672?w=3000 3000w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
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.

Ex-Ripple Director Heralds ‘Big News’ For XRP, Can Price Respond?

Table of Contents

NewsBTC

Other articles published on Feb 7, 2024

South Korea to implement virtual asset act, regulator to meet Gary Gensler in US

US Judge Approves Sealed Settlement Between BlockFi and Three Arrows Capital

Prometheum claims Ether is a ‘digital asset security’ with launch of custody services

Prediksi Gerakan Bitcoin di Tahun Baru Imlek 2024, Masih Lemas?

Dogecoin is Facing Challenges: Developer Raises Concerns

This Crypto Exchange CEO Just Got Served a 7-Year Prison Sentence

Join our free newsletter for daily crypto updates!