Ripple Chart and Talking Points
– Ripple lost 20% on Saturday before the third-largest cryptocurrency rallied back to pre-weekend levels.
– The re-test of three-month lows may point to further downside.
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Ripple (XRP) Needs Further Consolidation if it is to Push Higher
The volatile trade over the weekend saw Ripple drop form $0.68 to a low of $0.53 in a 24-hour period before rallying back to a current level of $0.65. The fall was part of a wider sell-off in the whole cryptocurrency space that saw the market’s capitalization hit a four-month low of $276 billion. Korean Won buyers were noticeable, trading at an average price of $0.678 at the Bithumb exchange.
The one-hour chart highlights the sharp rebound but still leaves the market undecided on the next move with lower prices still more likely with the green $0.58 to $0.68 one-hour candle vulnerable likely to be re-tested.
Ripple (XRP) Price Chart One Hour Time Frame (March 15 – 19, 2018)
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The daily Ripple chart still highlights strong resistance starting at $0.85/$0.86 area and is expected to hold unless market fundamentals change completely.
Ripple (XRP) Daily Price Chart in US Dollars (November 11, 2017 – March 19, 2018)
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If you are interested in trading Bitcoin, Ethereum, Litecoin, Bitcoin Cash or Ripple we can offer you a range of free resources to help you. We have an Introduction to Bitcoin Trading Guide along with a Free Demo Account. In addition we run a Weekly Bitcoin Webinar and have an IG Bitcoin Sentiment Indicator to help you gauge the market and make more informed trading decisions.
What’s your opinion on Ripple – bullish or bearish? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at firstname.lastname@example.org.
— Written by Nick Cawley, Analyst.