Sun. Aug 7th, 2022

Ripple is a system that allows real-time fund transfers and currency exchange. This system has a native currency called XRP which is the second-largest cryptocurrency by market capitalization. The price of Ripple is still far away from the major XRP price predictions but according to the rules of technical analysis, the “bearish” trend of this cryptocurrency is still very strong. The price of Ripple stands around $0.19 and the current situation could be a very good opportunity for long-term investors. So, for just $50, roughly, you can own 263 XRP and Ripple could be an important part of your crypto portfolio. Ripple allows users to have transactions in 3 to 5 seconds, all accounts and transactions have strong security and they are algorithmically verified. The future actually looks bright for Ripple but investors should have in mind that Ripple isn’t the only privacy coin competing for market share and some other cryptocurrencies could potentially limit the adoption of Ripple. It is important to say that the Ripple protocol has been increasingly adopted by banks and payment networks, even some countries have the interest to accept this cryptocurrency as a legal payment. Some important names include UniCredit, UBS & Santander, Global Payments Steering Group but the partnerships with the likes of Amazon and Alibaba are also very important for the future of this cryptocurrency. In the chart below (a period from January 2019), I have marked major resistance and support levels which can help us to understand where the price could move. The current resistance levels are $0.30, $0.35, $0.40 and $0.50, $0.17 and $0.15 represent strong support levels.

The cryptocurrency market is still under the pressure and it is important to say that Ripple is one of the worst performers in the last several months. The price of Ripple has weakened from $0.23 to $0.176 in less than 30 days but the price could fall even more in the upcoming weeks. Although the price can weaken even more the current price represents a very good entry-level for the long term investors. It is very hard to predict where the price of Ripple (XRP) will go, but if the price jumps again above $0.35 it would probably reach $0.40 in the short time period. If the price jumps above $0.50 we have an open way to $0.80. If the price drops below $0.15 support that would be a strong “SELL” signal and the open way to $0.10.

Recommendation: If you’re looking to invest in Ripple, you would be able to make some good returns throughout the upcoming years according to the price predictions for this cryptocurrency. The current situation could be a very good opportunity for investors because the market is once again at a point where big moves can be expected. My opinion is that this is a still speculative coin but it has a very big potential. According to some analysts, Ripple could reach $1 again but I would recommend everybody to be careful and to invest a small sum of money in Ripple. The price of Ripple is still far away from the major XRP price predictions but according to the rules of technical analysis, the “bearish” trend of this cryptocurrency is still very strong. If the price jumps again above $0.50 that could be a very good opportunity for the short term traders, short-term traders can put the stop loss at $0.44 and take profit at $0.60 or $0.80.

https://www.investopedia.com/terms/r/ripple-cryptocurrency.asp

https://www.forbes.com/sites/billybambrough/2019/11/21/as-bitcoin-ethereum-ripples-xrp-and-litecoin-lose-billions-this-one-small-coin-has-more-than-doubled/

https://www.tradingview.com/chart?symbol=BITFINEX%3AXRPUSD