XRP

Ripple Quick Overview - Short and Mid-Term

9Ripple has been ranging in between 75 cents and $1. These are also the two strong supports it had before skyrocketing up to $2-3+ (expectation of Coinbase and banks adopting it soon). It was flat near 25 cents for several months, which is an indcation of the floor it could reach if the whole market falls.

With the Bollinger Bands and Stoch RSI indicators, we're clear Ripple has gotten quite low. Possibly oversold for the short-term. However, we do wait for confirmation of some kind before buying in. Most interestingly, while other coins are forming a downward channel Ripple has formed what appears to be Falling Wedge, which is actually bullish sign. Though I would monitor to make sure that shape doesn't converge into a continuative triangle. But it's a coin I would monitor for short-term trading. Presently, it's at the low part of the range; a possible option to short but also look at charts with smaller time frames. For long-term holders, I would either wait for a 75 cent price or buy it once the market stabilizes and starts recovering. There's no rush.

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