Ripple (XRP) with a next decisive move

18.01.2019 / 17:42

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Ripple (XRP) has been trading sideways for a while but now it is time to make a decisive move. The price is already consolidating below the 21 Week EMA but it has reached the end of the line trading inside a diamond formation. XRP/USD entered this diamond pattern in April, 2018 and will have to break out of it by February, 2019. The price is currently trading at the bottom of this diamond formation and a few strong moves to the upside might easily facilitate a breakout to the upside. Such a break out is going to be very helpful in getting more investors onboard as it will also result in XRP/USD breaking above the 21 Week EMA.

The weekly RSI also has plenty of room for further upside. The price can rise continuously for the next few months and it is expected that XRP/USD will take this opportunity to preserve its second spot by market capitalization. That being said, Ripple (XRP) has performed better than most other cryptocurrencies and investors are aware of that. XRP/USD has not corrected in the same manner as most cryptocurrencies which could hinder its chances of moving with the rest of the market in the weeks and months ahead. One thing we have seen in this market is that there is no single cryptocurrency that is immune to market cycles. If a cryptocurrency escapes a correction at some point, it is likely to face it at another time. There is no such thing as avoiding a correction.

Many cryptocurrency enthusiast that invested in XRP/USD before the bear market kicked in are still waiting for the price to fall back to $0.20 or closer before they can get back in the game.

Trader Georgi Bozhidarov

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Ripple (XRP) with a next decisive move

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