Have Traders Forgotten About Ripple's Good Deed? [Video]

Kiana Danial, CFP Invest Diva

It’s been almost a month since the Bill and Melinda Gates Foundation released new open-source software to reach the world’s poor with essential financial tools. The software utilizes technology developed by startup Ripple, in partnership with Dwolla, ModusBox, Software Group and Crosslake Technologies. However, this good deed appears to be vastly ignored by the market participants and XRP traders. After dropping from the key resistance level of 0.27 back in October XRP/USD has mainly ranged within the narrow range of 38% and 23% Fibonacci retracement levels at 0.22 and 0.19 respectively. The pair remains below the flat Ichimoku cloud, and the Tenkan line has crossed below the Kijun line. The future cloud appears bearish, although it lacks a concrete direction. It appears as though the cryptocurrency market participants are distracted by the wild volatilities in Bitcoin and Bitcoin Cash, which may give XRP range traders chance to take advantage of the lack of wild rides. This includes Ripple traders in South Korea. For example, trading volumes on Bithumb, one of the largest exchanges in South Korea, have generally gone up in November. Thanks for watching, invest responsibly, and I’ll see you with more updates tomorrow.

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Author

Kiana Danial, CFP

Invest Diva

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert.

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