Analyze graphs: grow Ripple this week?
Source:The Launch and new partnership «fueled» news background around . However, the recent growth of the coin may be just the beginning of a global uptrend.
While XRP is trading 18 percent lower than last week. However, very soon the bitcoin will be back above 50 cents. After that, the next target for the bulls will become the level of 80 cents. A more detailed analysis below.
theLatest news
Now investors are waiting the final decision of the SEC on the nature of XRP. If the financial regulator would not consider XRP to be a valuable paper, so cryptocurrency you can safely put on a par with the .
It also alleges a former member of the SEC Michael Didiuk. According to him, the ripple does not meet all the test conditions, Howie, and therefore can not be considered securities.
is not a security. It is a currency. could go away and XRP would still exist.
Michael Didiuk, 8 year-long former US SEC employee
— Steven Diep (@DiepSanh)
At the moment the coin appears in three trials. All plaintiffs claim that they have invested in the project because of the Ripple promises regarding future revenues. Since that time Ripple was divided into two divisions: Ripple Labs and the Ripple, which is engaged in the development and promotion of software products like xRapid.
theTechnical analysis
To Buy a crypt at the peak always profitable — this is the lesson that XRP is teaching traders September 23. 1-weekly chart is seen after a quick two-day growth coin with the same speed rolled down.
image Source — NewsBTC
However, very soon the bulls need to gain strength and beat the price up from the closest Fibonacci level. At the moment the main support area is 40 cents, and the first target for taking profits is the level of 80 cents.
image Source — NewsBTC
Scale 1-daily chart, the situation looks quite good for the bulls. You can buy XRP at market price with a stop loss just below 35 cents.
Analysis of schedules prepared . More promising coins can be found in our .
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