XRPUSD (Ripple) – Week 14 – 65 cents resistance test

When asked about "contingency arrangements" in a CNN interview with Julia Chatterley, Ripple CEO Brad Garlinghouse said that abandoning XRP and replacing it with an alternative might "certainly" be part of the solution in the US. The billionaire claims that Ripple and he are more open in the cryptocurrency business than “anyone,” and he encourages other market players to follow suit. Also on April 1st we learned from Whale Warning that, the San Francisco-based blockchain behemoth Ripple Labs withdrew another billion XRP tokens from escrow on April 1.

The price of XRP reached this morning the resistance area marked on the chart. Now we see 2 scenarios that have good probabilities for this pair. The first one with the higher probability is a consolidation occurring at this price range and then breaking out of this structure upwards, and the second one is a bigger pullback going to $0,50 cents per XRP or reaching the minor support area.

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.