Ripple (XRP) Finds Strong Support At Historical Trend Line

Ripple (XRP) has finally found its strongest support in months. The weekly chart for XRP/USD shows Ripple (XRP) bouncing off a historical resistance that extends all the way to Jun 2017. This is not the only trend line support Ripple (XRP) has found. The chart shows that previous resistances during the downtrend have turned into supports. That way, the price has also found another trend line support (shown in yellow) which further strengthen the prospects of a trend reversal. The bear market seems to be finally over for XRP/USD as the price has now corrected to its full potential. Just like the previous bear market, we have seen Ripple (XRP) form a double bottom. Next we will see similar price action to the one between June and November last year.

This would mean that the price of Ripple (XRP) is likely to recover short term but it is unlikely to reach a new all time high before mid 2019. The price is expected to consolidate all the way till mid 2019 after which it is expected to…

Read Full Story : Crypto Daily™

2018-12-07 15:30:00

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