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Latest news from Ripple
The crypto market may be in trouble since last year's hammering, but Fred Wilson, Managing Partner of Union Square Ventures, is optimistic. From his point of view, he expects the expansion of the global market to strengthen the cryptosites helping to realize the dashed promises of 2018.
Citing the potential market macro as a slowdown of economic activity in China and geopolitical factors as a possible premature end of the presidency and Brexit of Donald Trump, the venture capitalist said that these events will generate volatility, further galvanizing the criptos as havens in the draw process demand for the currency as the prices reverse the climb from the holes of 2018.
"I think we will see major dislocations in US leadership, a bearish stock market, a weakening economy, many global economy issues, including a disorderly Brexit and a lazy China. All of this will lead to a more cautious investor position in the startup economy, and crypto will not be a safe haven for all of this, even though there will be signs of life in the crypt in 2019. "
Although 2019 may be the year of the reversal, "the process could take a lot of 2019". During this period, there will be demand, but the sell-offs will force asset prices to reduce the current new highs by the end of 2019.
Ripple (XRP) Price analysis
Fred is optimistic, but XRP is fighting bears at the time of the press. The XRP is down 1.9% in the last day, but up 5.4% from last week's close. Even if we maintain a bullish prospect as long as the XRP / USD is swinging by September 2018, there is a risk that prices will fall below 34 cents and even 30 cents to 25 cents as sellers sweep away the third quarter earnings 2018. The odds will be high if the bulls fail to build enough momentum by closing above the 40 cents by the end of this week, while the sellers come back in a retest phase.
It is also our expectation that prices will rise again above 80 cents to new highs in the coming weeks, all the more so if prices will synchronize with our previous XRP / USD trading plan rising above 40 cents on the back of strong volumes . In that case, we will exchange as first with the first 60 cents targets.
Assuming that the XRP / USD printing is higher, our business plan will be as follows:
Buy: 40 cents
Stop: 37 cents
Objective: 55 cents, 60 cents, 80 cents
All graphics courtesy of Trading View
Disclaimer: The opinions and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
