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Latest news from Ripple
Given the current market situation, it is clear that the week was difficult for market participants. With double-digit losses and breaks under significant support levels, the merger was – and continues to be unforgiving. But even if the attendees are desperate, XRP appears as the winner of the "store of values" race, beating Bitcoin and tilting Ethereum to the second most valuable piece of space.
Lily: The cryptographic bubble did not burst, it has not even started yet
Ethereum is flickering and, as the gap widens, the prevailing trend is that XRP will soon replace Bitcoin at the upper level. In our price tables, the estimated selling price is down 17% last week and, as a haven of peace during this storm, the growing number of partnerships, the zeal of the community that advocates for a "base" at Binance and technological advances in chain, as the launch of xRapid and xVia to complete xCurrent gives him a foot in space.
The basic shill of xrp is strong. Let's take it out of your system and put all your projects under this tweet, and see how much we receive. https://t.co/usiISCtuSj
– CZ Binance (@cz_binance) November 18, 2018
Interesting to read: Edward Snowden bullish on crypto: blockchain money makes sense
Of course, this is a step in the right direction for a platform that takes its value from the solutions offered to banks to help them transfer funds faster, cheaper and more efficiently. The goal of Ripple is to create this labyrinth of banks, the Internet of value allowing an instantaneous movement of funds.
XRP / USD Price Analysis
Weekly table
Even though the losses are significant while the bear presses on the sales pedal, the XRP / USD is technically bullish. We expect prices to rise by the end of 2018. It's easy to understand why. In a scenario of effort against result, the bulls are obviously in lower prices.
Note that amid the marauding bears, the XRP / USD has not yet been released at less than 25 cents to completely cancel the week's earnings ending on September 23rd. In fact, prices are trading above the support zone of 35 to 40 cents. As long as this remains, traders can start to increase their positions in shorter time frames with targets at 80 cents or more.
This overview will no longer be valid if the losses are less than 35 cents. In this case, sellers would most likely lower prices below 25 cents to 15 cents or less.
Daily table
As it is currently, XRP / USD is now trading in our ideal buying area located between 78.6% and 38.2% Fibonacci retracement areas. In accordance with our XRP / USD business plan, we suggest aggressive traders to buy at the spot price with stops at 35 cents – the Fibonacci retracement level of 78.6%, with early targets at 80 cents in September 2018.
On the other hand, conservative traders should expect big gains in excess of 60 cents before buying on troughs with goals at $ 1.65. Conversely, troughs lower than 35 cents cancel this overview. In this case, aggressive traders should sell for cash, with stops at the highest of the barrage bar, their target being 15 cents.
All Charts Courtesy of Trading View
Warning: The views and opinions expressed are those of the author and do not constitute investment advice. Transactions in all their forms involve risks as well as your due diligence before making a trading decision.
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