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Ripple (XRP) is probably the most bullish currency at the moment. This is because Ripple (XRP) has already completed a correction of almost 92% from its fall from $ 3.31 in January of this year. In addition to this, as the weekly chart above for XRP / USD shows, Ripple (XRP) has just completed a gigantic bullish gartley pattern that runs until 2017. This means that Ripple (XRP) can now be expected to start a new tendency to this point and possibly enter into another upside-down gartley training. The RSI for the chart above has been traded in a large wedge that falls and extends to the end of 2017. RSI for XRP / USD has now reached the extension of its movement with that wedge which precipitates and it is expected that bursts before the end of the month.
The MACD analysis for the graph above shows that Ripple (XRP) could be on the verge of a huge explosion and its price could very well lead the rally of altcoin with solid signs of inversion of trend. The rising channel in which XRP / USD has been trading since before 2017 is still intact and the price is currently at the bottom of it. If Ripple (XRP) should start another cycle at this stage, it is expected to exceed the previous historical maximum of $ 3.31 by the end of the year. However, for this to happen, we will have to see solid progress in the fundamentals of Ripple's XRP token. A favorable development at this point is that Ripple and R3 have reached an agreement on the XRP after months of legal wars.
Ripple (XRP) is the only major cryptocurrency to have had such an extensive correction. However, it would be unfair not to mention that it is also the only cryptocurrency to have a huge ROI of 3800% in the last two years! The Ripple XRP token still has room for further gains if the company seriously proposes a plan to ensure that remittance companies not only experiment but actually use large-scale XRP tokens. Previously, Western Union CEO criticized Ripple (XRP) for its inability to make any difference to transaction costs. Later, it was discovered that Western Union was only experimenting with small-scale XRPs. Ripple, the company came into defense and said that it is not possible to ascertain the cost efficiency of XRP with such small quantities.
Ripple (XRP) has a working product; the only problem now is adoption. As for investors, Ripple (XRP) remains tied to the smallest 4H time range shown in the graph above. The price should continue to operate sideways for now, as Ripple (XRP) has already completed the correction and is now waiting for a signal from Bitcoin (BTC) to make its next move. Ripple (XRP) is currently close to testing the rising channel again in the 4H timeframe. Current levels of XRP / USD present good buying opportunities for medium to long-term investments. For those wishing to negotiate in the short term, it is advisable to wait for a break on both sides before starting a trade.
