Ripple can not escape from the horizontal channel. Will there be growth?

From the point of view of fundamental analysis have a Ripple happened a lot of good events. The CEO of SBI Holdings believes cryptocurrency is a leading asset industry, and the company Instimatch Global announced support for R3 Corda Settler, decentralized applications for payments in XRP. However, on the charts it looks not so optimistic.

The General situation was as follows:

  • the price of Ripple is under strong bearish pressure below the level 0,3400 dollar;
  • cryptocurrency is moving in a horizontal channel;
  • the bulls can still “protect” the level of support in the area 0,3000 USD.

This morning Ripple trading at 0,3223 dollar. For the past day, the cryptocurrency fell by 2.18 percent.

Technical analysis

Note that the above mentioned firm Instimatch Global works very closely with a network of large investors who “can provide a significant amount of liquidity.” In a recent announcement the company said the replacement of a centralized database new development — dApp called R3 Corda Settler.

The scale of the upgrade is impressive because previously centralized resources Instimatch Global has processed over one billion transactions a day. However, while the platform is in early testing so the final release of the product will have to wait.

1-daily chart, unfortunately, there are no speakers that would have to open a potentially profitable trading position. Ripple a few times bounced off the support zone 0,3000 USD, so this level can be considered safe for entry into the market. In other words, open long after the rebound of the line.

Source: TradingView

More conservative traders should wait for retracement zone 0,4000 USD. There is now the nearest resistance level, which keeps the bulls from growth. Not to miss other great deals, be sure to subscribe to our cryptcat.

SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. WE WILL TEACH YOU TO TRADE.

0 Comments on “Ripple can not escape from the horizontal channel. Will there be growth?”

  1. Hi everybody! I was pondering whether or not anyone would like to register with me as a cannabis and CBD product reviewer? I have already received a huge amount of cbd goods from reputable companies such as Alternate Vape I likewise have a considerable amount of CBD and hemp items to send to CBD and hemp reviewers, featuring CBD Starter Kits, CBD PERSONAL LUBRICANTS and CBD Flower I also do vape reviews and am looking for a vape reviewer also to review the following eliquid brands (will be transported to you): Candy POP! E-Juice, Juice Roll Upz E-Liquid and Merkury Vapor E-Juice Many thanks guys and have a fabulous day! You can contact me at allcbdstores

  2. Hello I would like to invite you to join Sweaty Quid, the leading website for freelancers where you can hire freelancers for all your business needs and provide your own services for free Register today at sweatyquid and If you have any questions, do let me know I will see you on the other side!

Leave a Reply

Your email address will not be published. Required fields are marked *