• XRP/USD is consolidating around the psychological level of $0.30

  • Potentially a short term 10% gain?

On a macro level Ripple seems to be doing great. It is being implemented everywhere and is making new partnerships every week. The potential movements in the Moneygram deal would be a great catalyst to start a bull run.

Chart

On this 4 hr chart we can see price is hovering around the $0.30 region with a 200 SMMA acting as a dynamic resistance. I believe there is an area of liquidity around the $0.32-0.33 handle that price will try to drive towards. Alternatively, we could see a wick fill and see price drive to a lower liquidity area between $0.24-0.25.

We are now deep into the accumulation phase and I believe once we break out of $0.3 and head to $0.50 we could be seeing the start of a bull run. The fundamentals are on Ripple’s favour; however we are still waiting for it to be portrayed in XRP. Out of all the coins I do believe this might be the most stable coin.

Will we hit all-time highs ever again? We are yet to see any reason to suggest it.

My position for this short-term trade is

ENTRY: $0.29

SL: $0.27

TP: $0.33

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