XRP/USD Price Update

Discussion in 'Cryptocurrencies' started by MrKJoe, Dec 5, 2019.

  1. MrKJoe

    MrKJoe

    XRP/USD Price Update:
    • XRP is trading inside a consolidation phase but aims for a clear direction in the short-term.
    • Bears currently in control but a reversal can come in favour of the bullish bias.
    XRP/USD Price Update: Capped by 0.2323 on a short-term basis
    Ripple (XRP) has been trading inside a consolidation phase at the start of the month and is now hovering around the 0.2190 neighbourhood and looking forward to a clear direction in the short term.

    The cryptocurrency was hit by a bearish wave after testing the resistance level of 0.2323, where a critical barrier is located. It should be noted that a rebound happened at the end of October above the 0.2059 level. Also, the 50 SMA at the 4H chart continues to cap further gains in the XRP/USD pair.

    This should favour the bearish bias in the short term. Also, traders should take into consideration the bullish trend line broken in November.
     
  2. XRPs fate depends on what Bitcoin is going to do, Bitcoin dominance is still very strong so any sharp moves Bitcoin makes greatly impacts XRP. That's why XRP has been down.

    I am not a fan of XRP, the founders are doing what they can to make it less of a 'security.' And that means controlling the prices so it doesn't take off. So between that and Bitcoin dominance it's almost like a shit coin. However if it becomes a security it should help prices take off.