Ripple (XRP) was the most predictable cryptocurrencies in terms of trading. The recent price action is a carbon copy of price action during its previous cycle. Interestingly enough, Ripple (XRP) seems to have finished the cycle with the same big red capitulation candle as in the previous cycle. The price has been traded in a wedge that falls, as it did last year. The story may not repeat itself, but it rhymes and what we see in the chart above for XRP / BTC is an absolute testament.
RSI levels for XRP / BTC indicate that the price is unlikely to decrease significantly at this point. An inversion seems to be less than three weeks since the price is preparing for a big breakout. The last time it happened, the price fell below 50 EMA and 100 EMA and turned directly to 100EMA followed by an increase of three candles directly above the 50 EMA in a span of four weeks. This time, if the price were to reverse, you can expect a similar scenario with the price going first to 100 EMA, followed by three more aggressive candles, most likely after the previous ATH.
Ripple (XRP) is considered an undervalued currency by itself as the probability of gains 10x or higher on this currency is high, but what makes it a subject of debate among the enthusiasts of cryptography is the real case of coin use Ripple XRP. Ripple is a big company with great potential, but can we say the same about its currency, XRP? Well, as far as the company is concerned, Ripple could not convince any of its partners to effectively use the XRP money for liquidity sourcing. However, in the future, if they can get XRP to be used by banks and large financial institutions instead of their Our accounts, Ripple will draw in a trillion dollars on the forex market and the value of XRP could skyrocket. So far nothing of the kind has happened, but until most of the cryptocurrencies will not have real use cases, speculation will drive this market and with that account, Ripple (XRP) can obtain gains similar to those of most cryptocurrencies.
Ripple (XRP) has now fallen towards the demand area as can be seen on the weekly XRP / USD chart above. The price is back where it was just before the Ripple (XRP) exploded massively towards the end of 2017. For fans of Ripple (XRP), this would be the time to start buying in the long run. The price may fall further down to the lower limit of the demand area, but the risk / return at this point is worth the trade.
With the start of a new week, Ripple (XRP) is almost 3% for the day so far. XRP / USD formed the first green candle on the weekly chart after two weeks of continuous decline. While further decline is possible, it is not likely that Ripple (XRP) seems to have found a fund at $ 0.28.