XRPUSD (Ripple) – Week 10 – Weak signs
Ripple, as we have learned this Thursday, is planning to pilot a private ledger built for payments and the issuance of digital currencies. This ledger will be used as a platform by central banks to create their own digital currencies. The central bank ledger is aiming to move money at low cost paired with the speed and quantity demanded by such high-volume transactions operated by central banks.
From a technical standpoint, XRP had a low volatility week, with the price moving inside the $0,40-$0,50 area, making a structure that its more likely to break to the downside, retesting the blue trendline marked on the chart or even lower. However, if the price breaks the resistance area at $0,50 and consolidates above the next target could be the resistance at $0,65.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
From a technical standpoint, XRP had a low volatility week, with the price moving inside the $0,40-$0,50 area, making a structure that its more likely to break to the downside, retesting the blue trendline marked on the chart or even lower. However, if the price breaks the resistance area at $0,50 and consolidates above the next target could be the resistance at $0,65.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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