Friday , December 4 2020

Ripple course reaches 60% price gain! What’s next?



TradingView XRP / USD price increase

The price of Ripple rose sharply in the days when Bitcoin was quiet and the trend was only to the side, but in the last 7 days the price of Ripple rose more than 60% and thus clearly outperformed Bitcoin. In this article you will find out what the reason for this might be.

We and our premium group were able to take the price gains from the Ripple rally with us. If you want to do that too, but don’t know how to get started, our Discord Premium is the perfect place to go. Our experts will take you step-by-step through the world of cryptocurrencies and make you a successful trader. Sign up here now!

Ripple course cut from a big triangle!

Symmetrical Triangle TradingView XRP / USD + Target

Ripple’s price fell bullish from the Symmetrical Triangle this week and is aiming for its target at ± $ 0.55. We set the goal by drawing a line between the first touch of the bottom line to the top line and copying and pasting it at the cut. So the goal arises. Since we believe that the Psychological Resistance could be quite strong at $ 0.50, we would expect to withdraw from the $ 0.50 mark.

Where are the next resistances in the Ripple course?

TradingView XRP / USD resistors

If the ripple price breaks the psychological resistance at $ 0.50 and breaches its target of ± $ 0.55, it could potentially rise to its last strong resistance at ± $ 0.62 and from there to the $ area. 0.50 Could retest. But until we can say that more accurately, we would first have to wait until the Ripple course raises the target level and where it corrects.

Retail Fibonacci TradingView XRP / USD

Of course, there are also Fibonacci scale levels. First, we would consider the 0.5 Fibonacci level, which would be ± $ 1.72. This would be followed by the well-known GoldenPocket, which would be ± $ 2.12 – $ 2.22. From there at the very least, we expect a slightly stronger correction in the Ripple course, as we think the Ripple course will do something similar to the Bitcoin course. It also reeled off the record-breaking GoldenPocket (July 2019) and managed to pick up even more from there.

Featured Spark ticket on December 12th

As well as technical reasons, the news that a snapshot of Airdop on December 12, 2020, could boost the XRP course. The Flare project will distribute its Spark ticket to XRP ticket holders. Flare is a smart contract platform that operates Ethereum virtual machine. The network can also be considered as a smart contract platform for XRP. DeFi protocols are embedded on Flare as first applications.

The charts used by our partner TradingView come from.

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