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. 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.

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. In the chart below (a period from October 2018), 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, $0.25 and $0.20 represent the strong support levels.

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 $0.20 support that would be a strong “SELL” signal and the open way to $0.15.
Recommendation: The cryptocurrency market is under the pressure and it is important to say that Ripple is one of the worst performers in the last several months. 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 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. So, for just $50, roughly, you can own 200 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 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.

By Dov Herman

Dov is a Blockchain and Forex trading enthusiast, who spends most of his time trading and examining software who are related to cryptocurrencies and forex trading. You can follow on Dov’s reviews and articles here on TrustedBrokerz and across the web.