Ripple (XRP) has challenged the gravitational pull of Bitcoin (BTC) in recent weeks. The 1H chart above for XRP / USD shows that Ripple (XRP) has experienced a surge in the last days. There were no signs of a slowdown. However, all this could soon end when Ripple (XRP) is likely to sell out in the short term. Ripple (XRP) has added an extended wedge on the 1H timeframe. It is very likely that the price will fall below this growing wedge towards short-term support. Ripple (XRP) had previously formed a solid base of support between $ 0.425 and $ 0.437. If the price drops to this level in the near future, we will see a double background formation. Technical indicators are also ripe for a long sale. The analysis of wave trends for XRP / USD suggestions continues to decline. RSI shows that there is room for further negative aspects.
The crypto community is running behind Ripple (XRP) with a magnifying glass to see what exactly could be the cause of this rally. So far, there seems to be no plausible explanation for Ripple's independent moves (XRP). However, the interest in Ripple (XRP) has grown steadily and easily visible in the crypto community. Many investors believe that Ripple (XRP) can draw trillion dollars in the forex market. Very few experts believe that the next currency crisis can be avoided. C & # 39; is an article of the Economist that dates back to 1988. It is clearly stated that in 2018 the world will have a digital currency known as "The Phoenix". For some, "The Phoenix" is Bitcoin (BTC), but for others it is Ripple (XRP).
Unlike Bitcoin (BTC) and Ethereum (ETH), Bitcoin (BTC) and Ripple (XRP) are direct competitors in the same space. Most Ripple investors (XRP) believe that Bitcoin (BTC) was the first experiment, but today it is an outdated technology. Ripple (XRP) is much faster and cheaper than Bitcoin (BTC). However, unlike Bitcoin (BTC) Ripple (XRP) is not distributed very equitably. Furthermore, it is not decentralized as Bitcoin (BTC). So, it does not make much sense because it could possibly replace Bitcoin (BTC). However, there are others who claim that the adoption of Bitcoin (BTC) will take time. Therefore, meanwhile, Ripple (XRP) can be a great thing as it can promptly resolve our current banking problems.
This chart for XRP / BTC is very difficult to interpret. This is because, for the first time in Ripple's history (XRP), we can see something out of the ordinary. Previously, XRP / BTC formed three or four consecutive weekly candles before a correction was activated. This time, he has already formed two candles, but the second candle is not a candle elongated as before. It is a very small candle that also characterizes a doji formation. This has never happened before in the history of Ripple (XRP). This doji can be a bullish continuation signal and Ripple (XRP) could manifest itself in the coming weeks. However, its weekly RSI is close to maximum. Given its independent moves, one can not say with certainty whether Ripple (XRP) will reach a new all-time high in terms of dollars. This is because the XRP / BTC pair will most likely be better before this can happen.