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After the low ($ 0.329), which was in November, the Ripple segment shows a recovery of 21%.
Monday's XRP / USD rate was 0.3399 phi higher in the BitFinex line-up. At the same time, the market capitalization of the currency has reached almost $ 15.61 billion. United States, replacing Ethereum -9.17% to become the second largest cryptocurrency in the world.
However, its stability is not guaranteed at the moment. In the worst case, this could be a bearish pennant shape, indicating a continuation of the current downward trend. At best, XRP can advance to the extended recovery action, given its less cryptocurrency during the bear run, which has rocked the entire cryptography market.
At the same time, 0.329-fiat provides a decent support based on the daily basis. Previously, the level saw purchases and promised to keep bears with different bulls. A gap of less than 0.329, on the other hand, can be devastating, as this will lead to the collapse of XRP / USD to the next potential deficit of 0.268 phi. This level has provided strong support since August.
The reduced version of the XRP / USD rate chart gives us more information on how to trade intraday. At the moment, the pair is clearly pointing at 0.966 phi as an intermediate resistance, leaving the foot at 0.371 phi, temporary support for the rest of the day.
We look at XRP / USD in the opposite direction from a simple 200-period moving average on a 15-minute chart. This gives us good opportunities for temporary support. At the same time, placing a stop loss at 0.390 phi will protect our position from maximum losses if the correction is resumed towards the top.
It remains only to await the continuation of a breakthrough on temporary resistance. If this happens, we will enter a long position in the direction of 0.402-fiat as our intermediate goal, maintaining a stop loss of $ 0.93.
The information here contains forward-looking statements that involve risks and uncertainties. it is in no way a recommendation to buy or sell in these securities. You should do your research thoroughly before making any investment decision
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