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Price analysis of the ripples: XRP up 5.1%, extra liquidity from Binance

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While Sep 2018 saw XRP prices increase by 400% from the lows of 25 cents and at some point to print 90 cents, its growth has not gone unnoticed. At current prices, XRP is the second most valuable currency in space that surpasses ETH for the first time since the launch of the previous one in 2015. Its infrastructure has continued to grow, but government involvement and apprehension of investors to invest in projects have seen its global valuation shrinks.

On the other hand, the constant promotion of Ripple and XRP by the ever-vibrant community is paying dividends. Changpeng Zhao's Binance will make XRP base weeks after an XRP enthusiast has asked the world's biggest exchange to follow and create the XRP base.

It does not mean only added liquidity, as investors easily convert their altcoin, ETH or BTC in exchange for a more stable XRP, but they will do much to reduce the over-reliance on BTC and ETH. If anything, this is part of the decoupling that Brad Garlinghouse was talking about at the start of this year, and this is a significant milestone for XRP, Ripple and Ripple Labs.

Ripple (XRP / USD) Price analysis

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As long as XRP is traded above 25 cents, the bulls are in charge and traders should look for buying opportunities on every occasion. At spot prices, XRP exchanges hands at 37 cents and up 4.1 percent in the last week. Stable on the previous day, but considering the events of the week ended December 23, the bulls are in charge in line with the bulls of late September 2018.

From the previous XRP / USD price analysis, we suggest patience until there are no solid movements exceeding 40 cents. Preferably, this rise should be behind high volumes that exceed the December 24 million average of 20 million.

If this is printed later today, the bulls should find buying opportunities at each relegation with the first target at 45 cents and after that at 60 cents with safe arrests at 35 cents.

Our XRP / USD business plan will be as follows:

Buy: 40 cents

Stop: 35 cents

Objective: 45 cents, 60 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.

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