The cryptocurrency market has posted a minor recovery but all major cryptocurrencies still remain under the pressure. The price of Ripple stands around $0.23 and the current situation could be a very good opportunity for long-term investors. So, for just $100, roughly, you can own 434 XRP and Ripple could be an important part of your crypto portfolio. 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 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. Ripple allows users to have transactions in 3 to 5 seconds, all accounts and transactions have strong security and they are algorithmically verified. 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 February 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, $0.20 and $0.15 represent the strong support levels.
According to some analysts, Ripple could reach $1 very soon and the market is once again at a point where big moves can be expected. I would recommend everybody to be careful and to invest a small sum of money in Ripple, the best time period for me is between 3-5 years, hold and wait. It is very hard to predict where the price of Ripple (XRP) will go, but if the price jumps again above $0.30 it would probably reach $0.35 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 $0.20 support that would be a strong “SELL” signal and the open way to $0.15. In the chart below we can see how did the price of Ripple (XRP) performs in the last 30 days. On this chart, I have marked a “trendline” and if the price drops below this trendline that will be a “SELL” signal.
Recommendation: 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 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. Although the price can weaken even more the current price represents a very good entry-level for the long term investors. According to the rules of technical analysis, the “bearish” trend of this cryptocurrency is still very strong. If the price jumps again above $0.30 that could be a very good opportunity for the short term traders, short-term traders can put the stop loss at $0.27 and take profit at $0.35 or above.