The current state of XRP
Updated
As you can see XRP looks relatively bullish due to the hype and news surrounding the token. Although the coin has reached a market cap of 72B, any positive news can boost the coin even further. The coin is expected to meet the MA 60 relatively soon, correcting to around 1.43. Keep in mind that negative news, on any significant delay in updates may lead to a decrease up to 1.26 (based on Fibonacci). Although Fibonacci allows for correction to around 1 - 0.85, I highly doubt that we will reach these targets due to the fundamentals and the current hype surrounding the coin.
Moreover, we can clearly see that the growth patter of XRP is repeating itself. This time, however, it is very unlikely that news as damaging as the SEC related case will come up. Thus, the growth of XRP should not be disturbed this time.
This is not financial advice.
Moreover, we can clearly see that the growth patter of XRP is repeating itself. This time, however, it is very unlikely that news as damaging as the SEC related case will come up. Thus, the growth of XRP should not be disturbed this time.
This is not financial advice.
Trade closed: target reached
All the correction targets have been reached and the trend maintained perfectly. Expect healthy growth from now on (given that bitcoin doesn't decide to go for another dip).Not financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.