LiteCoin Technical Price Analysis(Nov.7th)

Ripple is an open source digital payment network which is also used by banks, the network is extremely fast and payments in XRP take around 4 seconds. It is important to say that all accounts and transactions have strong security and they are algorithmically verified. Ripple has a mission to become the go-to blockchain for big banks and financial institutions. Ripple has been increasingly adopted by banks and payment networks, some important names include UniCredit, UBS & Santander, Global Payments Steering Group. My opinion is that XRP could be a very good investment opportunity and putting a reasonable amount of money into XRP could potentially turn out to be an excellent investment. When we look at the 1-year chart we can see that Ripple is moving in “downtrend”. As long Ripple is below $1 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.4 and $0.8 – If the Ripple jumps above $0.8 that would be a “BUY” signal and the open way to $1. If the Ripple jumps above  $1 that could be a strong signal of the trend reversal and the open way to $1.5. On the other side, if the XRP falls below $0.4 that will be a strong signal “SELL” signal and the next target could be around $0.3.

Advice: Ripple can be a very good investment option according to estimates and some predictions say that this cryptocurrency could be above $5 in the next two years. Yes, it is true that the price could fall even more but the current price of XRP stands around $0.46 and this is very close to strong support which stands at $0.40. As for the technical picture, the XRP remains in bearish phase but if the price advances above $1, short-term traders can enter the position with the stop loss at $0.9 and take profit at $1.3 or even $1.5.

About Stanko 84 Articles
I am a professional forex, cryptocurrency and stock trader looking for more opportunities to penetrate the field. Writing, research, analysis, are all things I enjoy doing aside from the core trading practice as they provide a deeper perspective of market activity. I am well versed in technical analysis as well as sentiment behavior. I have 10 years experience in stock and currency markets ( analysis and trading), I am also an experienced cryptocurrency analyst. I have been writing business, finance, stock articles for over five years. My biggest strength is in technical analysis

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