The crypto market as a whole has seen a small bull-run in the last 30 days, however it seems as if ripple hadn’t received the message.
Since the beginning of 2019 there has been a mix of positive and negative fundamental data and as a result the price of Ripple (XRP) has consolidated between $0.30 and $0.36.

XRPUSD

Ripple (XRP) continues to fall short of closing beyond the $0.37, a small reversal towards the $0.32 level has occurred.
Price is lingering around this $0.32 level and is rallying around a 200-period smooth moving average, which can be seen as a dynamic support level. With the sellers looking stronger we could potentially see a drop to the $0.307 level, however, I do feel price may choose to bounce to the $0.34 level before deciding to go long or short.
The major upside target is of course the $0.37 level and whether we can close above this price to indicate the start of a bull run. On the contrary, we could see downwards pressure towards the 0.307 level and even further to the $0.29 level.

Taking any short trades would be a short-term outlook on this asset, and I would always recommend in such climates like this crypto market, to look to go long for the long-term. As Baron Rothschild was once credited saying “the time to buy is when there's blood in the streets.

MY TRADES:

BUY LIMIT @ $0.29 TP: $0.37 SL: $0.25

INTRADAY TRADE BUY @ $0.32 TP: $0.35 SL: $0.30

This is just for informational use only, as always trade with strict risk management.

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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