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Price analysis of undulations: XRP finds support for 35 cents, closes 2018 on a maximum

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Coin makers should have thick skin and always be ready to answer any question by touching their creations. While Ripple is an independent and for-profit company that supports three major solutions in xRapid, xCurrent and xVia, it is well documented that the community is not so secure if XRP is a security or a utility. Brad Garlinghouse insists that Ripple Lab's XRP is a utility and a former SEC commissioner has strengthened his position.

In a recent AMA, Brad said that XRP is a utility, and even if Ripple goes under, the currency may exist and continue to function. However, the questions linger with the critics, pointing out that their ledger and their solutions would behave with or without XRP.

The first, critics say, is just an airdrop, an incentive to invest in the platform. Whether it's true or not, the SEC is in a better position to advise. They have their position on Bitcoin but their inability to classify XRP is a source of doubt. While CoinBase is exploring XRP, an addition would be a direct endorsement considering the regulatory stand of the exchange. Should it happen in 2019, the XRP will skyrocket.

Ripple (XRP) Price analysis


It is likely that XRP will close the year as the second most valuable currency in the sphere. This is a fact and although the gap is shrinking: $ 350 million separate the two at the time of printing, the XRP price expansion will further strengthen its place in second place. At the moment, however, our previous commercial XRP / USD plan is valid, and as long as the currency is trading below 40 cents, traders have the opportunity to fine-tune their voices in less time.

From the arrangement of the candles, the best approach to charge on each dive until the price is still swinging within the trade range of 6 cents – 40 cents and 34 cents of upper and lower limits. As it is, aggressive traders have a better opportunity to buy since 35 cents is strong support. Furthermore, it is the Fibonacci retracement brand at 61.8 percent. However, there is another opportunity to trade in line with our latest business plan when prices exceed 40 cents.

In this case, our XRP / USD business plan will be as follows:

Buy: 40 cents, 35 cents

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.

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