The price of bitcoin has been going for a while sideways. That’s a fancy word for the price moving pretty boring within a small margin. Ripple’s XRP seems to be benefiting from this, the currency has risen sharply in recent weeks.
Within a few weeks the price of Ripple rose from 21 cents to 27 cents, an increase of no less than 29 percent!
Analysts expect that XRP has not yet grown. The currency could grow to 30 cents in the short term, a further increase of 11 percent.
At present, the rate of XRP at BTC Direct is 26 cents, which is about 29 cents in dollars. Compared to 24 hours ago, that is an increase of 2.2 percent. And that is quite clever if you compare this with 25 September when XRP was only worth 21 cents.
In the short term, it seems that XRP can take advantage of the calm water in which the bitcoin price is now located. The somewhat partisan Harry also has that opinion.
$ XRP fans, here is the long term RSI pictograph for the #XRP chart, should be clear why I think the market will recognize longing $ 0.33c as a very positive play with good R: R.
Accumulation, headfake, retest…. ?$ XRP fizz looks close x pic.twitter.com/nbFPQF9Tun
– Harry (@HaraldoXRP) October 20, 2019
33 cents possible in the short term
But where does the price go in the short term according to HaraldoXRP? He explains in his most recent tweet that investors should focus on 33 cents in the short term. He mainly looks at the RSI. This indicates that the currency is oversold, which means that XRP is sold too much in the short term.
“$ XRP fans, view the long-term RSI for the XRP chart here, it may be clear why the market should open a long position toward 33 cents. Accumulation, headfake, retest ….? $ XRP fizz seems close to x ”
Bearmarket for Ripple has been going on for a year
If you only look at the graph at the top of this article, you could draw the conclusion that the price of XRP is going well. That is also true in the short term, but XRP had to hand in mainly this year. The figure below shows that on 7 November 2018 the value was still 48 cents. That price seems far away. But if Harry is right, and XRP goes up to 33 cents, or 30 cents, then the rate is on the annual average.
Related posts:
GitHub Libra Code draws criticism from users 
Tipping on Reddit and Vimeo in BAT introduced by Brave 
Newcomers to the crypto market have to pay attention to scams and pump and dumps 
Hardly any growth in downloaded crypto apps, despite tripling price bitcoin 
Bloomberg accepts Bitcoin – says cryptomonads are here to stay 
The Central Bank can release their cryptocurrencies earlier than expected
