Ripple showing the signs of a historical trend: does history repeat itself?
Ripple's XRP has suffered several waves and falls since it entered the market, but this is expected for any digital currency in the encrypted world. But there's an interesting thing to note about it. Even with dives and spikes, the Ripple & # 39; s XRP the graph shows a progressive shape.
Does history repeat itself?
If you look carefully at the XRP market chart, one thing you will notice is that the currency is doing the same path it had done at the start of the year. In April 2018 the currency arrived at $ 0.9327. Anyone interested in the prices of XRP will agree that he is building a technical model that resembles that of April.
Now, let's go in mid-May this year. The coin fell to test the Low Moving Average, resetting the RSI but then breaking it down to see the surge testified in April. The XRP / BTC model we are seeing now is very similar to the one that lived that time.
September 18thth, Ripple started an amazing pump and continued to swell up to a maximum of 0.78. However, he was not able to break that price point, and instead started to experience a downward move again.
Ripple & # 39; s XRP tanked, losing nearly 50% of the gains he had earned in the precious couple of days. Since then, its price seems to have established a support on the 50 moving average. Many analysts believe that it could follow this trend a little longer, before cooling down and finally gather support to follow the same path in April .
Judging from Ripple's pricing models, it's probably safe to say that now is a good time for investors to buy the currency, while prices are still low.
The launch of Ripple's xRapid is expected next month
xRapid, Ripple's new innovative payment system, should be launched next month. It is believed that the payment system will help businesses and financial institutions to move smoothly, without friction. Ripple's chief regulatory relations for the Pacific and the Middle East, Sarbhai, confirmed this by saying in an interview that:
"I am very confident that in the next month or so you will see some good news getting to where we launch the product live in production"
Many cryptocurrency investors believe that the recent increase is due to the announcement that xRapid would finally enter service in October. This is no longer far from the truth. It is expected that XRP prices will probably hit new highs once the product is published.