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Latest news from Ripple
2018 was a year of testing for coin holders. The bear market has destroyed the space and with the currency of the ', Bitcoin, which has lost 75%, the altcoins have followed the example. The damage was severe in Ethereum (ETH), and their losses saw XRP replace it as the second most valuable currency. This despite the XRP has dropped by as much as 84% compared to the peaks of 2017.
Regardless of this, there is optimism, and although the price is just one of the many metrics used to assess overall performance, the bulls are confident in firmly believing that digital asset prices will come back after the full year's cooling. Leading this pack of bulls is none other than Jed McCaleb, an influential crypt who contributed to the development of Ripple. In fact, Jed's XRP liquidation in Q2-3 of 2018 fueled the sell-off.
To read: Jed McCaleb: It's not a bearish market, Crypto is simply calming down
However, it appears that the tide is changing, and in a recent interview with Yahoo Finance, founder Stellar said the market is on the rise and found it amusing when people say that the scrambled market is in crisis. In his opinion, the cryptography market as a whole has traced the peaks of 2017, but from a general perspective, the market is growing:
"It's funny when people say that crypto is down, I think it's still standing, it's down from the peak, but on the whole it's very high, we do not really focus on the price, it does not matter to us too much. prices are high, it means more people are interested and you have money to do more things ".
Ripple (XRP) Price analysis
On the last day, XRP is struggling with liquidation, but up 0.4 percent in the previous hour. In line with our previous XRP / USD business plan, we recommend that aggressive traders charge every time prices exceed 34 cents.
It is our immediate support line and marks the basis for the new push towards the top of December 28th. Note that due to this almost horizontal consolidation, our latest business plan is valid. There is the resistance of the lows below the Fibonacci retracement level of 61.8 percent anchored to the trade range of 6 cents of 40 cents and 34 cents.
Since our overall perspective is bullish, every downturn is a buying opportunity, and this is our short-term XRP / USD business plan:
Buy: 40 cents, spot price
Stop: 37 cents, 34 cents
Objective: 55 cents, 45 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.
