Ripple's XRP has had turbulence but no take-off compared to other cryptocurrencies, which are mostly in the green today.
First, a look at the fundamentals -
Despite the airdrop, XRP descended into a slow bleed downwards. I've read many articles on a few of the most mainstream "crypto news outlets" (commas so that this article doesn't automatically get blocked arrr) and the general feeling is that the upward rally prior to the airdrop was ridden as another pump and a perfect time for some investors to make their final exit strategy out of XRP. Believable. You will also see much hatred going around if you follow XRP twitter right now.
On the flip side; we see exciting news that Ripple is partnering with a major bank in Singapore, who will launch crypto including XRP. So far a launch date has not been made public.
All of the above mentioned, now the technical -
XRP is currently trading in a descending triangle. The general consensus at this point seems to be that a drop below the $47c zone could trigger a selloff, and a close above $51c could indicate the start of another bullrun. So we really are at the verge of either or.
I personally will be watching the RSI and the support line cautiously.
Thanks for following 👍
BlockTechEv
First, a look at the fundamentals -
Despite the airdrop, XRP descended into a slow bleed downwards. I've read many articles on a few of the most mainstream "crypto news outlets" (commas so that this article doesn't automatically get blocked arrr) and the general feeling is that the upward rally prior to the airdrop was ridden as another pump and a perfect time for some investors to make their final exit strategy out of XRP. Believable. You will also see much hatred going around if you follow XRP twitter right now.
On the flip side; we see exciting news that Ripple is partnering with a major bank in Singapore, who will launch crypto including XRP. So far a launch date has not been made public.
All of the above mentioned, now the technical -
XRP is currently trading in a descending triangle. The general consensus at this point seems to be that a drop below the $47c zone could trigger a selloff, and a close above $51c could indicate the start of another bullrun. So we really are at the verge of either or.
I personally will be watching the RSI and the support line cautiously.
Thanks for following 👍
BlockTechEv
