XRP/USD Price Analysis: CNBC Host Recommend Buying Ripple

Latest Ripple News

Like in any war, victims are usually the vulnerable. In the crypto space, the hash war between different factions within Bitcoin cash network saw ordinary investors record massive losses in several hours of madness. Surprisingly, in the midst of double digit losses in Bitcoin and most altcoins, XRP registered minor losses, rapidly recovering and closing three percent lower in the last week.

Relative to other coins, this is impressive performance depicting how immune it is against BTC price movements. Inherently, the Ripple Ledger is different than most blockchains. Without incentives, validators wield no power unlike Bitcoin or Bitcoin Cash miners.

Also Read: SEC Orders Airfox and Paragon to Return Millions to Investors on ICO Registration Violations

Though there are flaws as constant accusation of centralization, their decentralization strategy is paying dividends. Furthermore, the network is generally power efficient XRP remains a tradable asset and a utility.

At the back drop of panic sells and steadying XRP prices rejecting meltdown below 40 cents, Ran NeuNer, a host at CNBC and a licensed trader directed investors to reduce their BTC and BCH coin holdings. To hedge against miners, investors should instead add their XRP holdings.

Interesting Read: Ripple Secures More Banking Partners, XRP Holds Second Spot Over Ethereum

From a neutral observer, this is coin shill but a level deeper, CoinBase Custody will in coming days offer institutional custodial support for among other coins XRP. Like it has been the case, this is fuelling speculations that the exchange could list XRP weeks after receiving $300 in a successful Series E funding. If this be the case then XRP prices could exponentially expand breaching several resistance levels in a CoinBase effect.

XRP/USD Price Analysis

Weekly Chart

After flipping Ethereum as the second most valuable coin, odds are XRP/USD could further expand. This is not only from favorable fundamentals but from technical candlestick formations that point to higher highs roughly two months after superb gains of Sep.

From the chart, we note that the long lower wick points to underlying demand since prices are still trending inside our ideal buy zone since XRP bears didnt drive prices below 40 centsan important support previous resistance level, aggressive traders can begin ramping up at spot prices with stops just below 45 cents.

On the flip side, conservative traders can wait for convincing high volume close above 60 centsthe 38.2 percent Fibonacci retracement level anchoring on Sep 2018 high low in line with our previous XRP/USD trade plan. Solid gains above level and traders can begin buying at spot with first targets at 80 cents and later $1.65 with stops at 50 cents.

Daily Chart

As long as XRP/USD is held within Sep 20 and 21 high low then bulls have an upper hand. As aforementioned, traders should look to take long position and after yesterdays solid bull bar, we suggest buying at spot with stops at 45 cents with first targets at 60 cents, 80 cents and later $1.

All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and arent investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

The post XRP/USD Price Analysis: CNBC Host Recommend Buying Ripple appeared first on NewsBTC.

17.11.2018 / 18:15 48
BCH Hash Wars: Ripples David Schwartz Had Warned the Crypto Community about Miners BCH Hash Wars: Ripples David Schwartz
As the Bitcoin Cash (BCH) Hash War continues to affect the crypto markets, Ethereum World News went back in time to see if such an event had been
Bitcoin Cash Price Analysis: BCH/USD Could Test $300 or $850 by End Week Bitcoin Cash Price Analysis: BCH/USD
Latest Bitcoin Cash News Today marks the a new beginning or the end of Bitcoin Cash assuming Craig Wright wins the hash rate game and mine empty
Ripple Price Analysis: XRP Volumes Dry Up as Monthly Losses Rise to 23 Percent Ripple Price Analysis: XRP Volumes Dry
Even as traders and investors maintain a bullish outlook, XRP/USD monthly losses are high. Because of Oct 29 losses, we shall revert back to neutral,
Cryptocurrency Markets Maintain Momentum Despite Slight Retracement Cryptocurrency Markets Maintain
The cryptocurrency markets continued their positive momentum on Wednesday evening as most of the coins held on to the double-digit gains achieved
Bitcoin Suffers, Ripple Drops 5% as Crypto Market Continues Downward Trend Bitcoin Suffers, Ripple Drops 5% as
The crypto market has lost $5 billion of its valuation overnight, as major digital assets including Bitcoin, Ripple, Ethereum, and Bitcoin Cash
Bitcoin Drops to $7,200 While Ethereum, Ripple, and Bitcoin Cash See Losses Bitcoin Drops to $7,200 While Ethereum,
Over the past 24 hours, the cryptocurrency market dropped more than $22 billion, falling from $343 billion to $321 billion in market valuation.
Comments (0)
Add a comment
Comment on