RIPPLE PRICE DROP
A small excerpt from a COINDESK article on RIPPLE
Ripple's XRP token fell to a 2.5-week low today, and is looking at a more or less sideways movement in the short-term, chart analysis suggests.
The world's third-largest cryptocurrency by market capitalization fell to the low of $1.23 at 09:54 UTC today before regaining a little poise, data source CoinMarketCap indicates. Further, XRP is still down 23 percent over the last 24 hours. At press time, XRP is trading at $1.39.
As per OnChainFX, the cryptocurrency is down 63.41 percent from the record high of $3.84 set Jan. 4.
A look at the charts suggests XRP may have found a bottom and could consolidate in the next 36–48 hours before possibly resuming the sell-off.
View
XRP is likely to trade in the sideways manner in the range of $1.80 to $1.00 in the next day or two, before resuming the sell-off.
Overall, prices look set to $0.8610–$0.60 levels in the short-run.
Bullish scenario: A rebound from the 50-day MA, followed by a quick move above $2.25 (Jan. 11 high) would signal a bearish-to-bullish trend change.
Great post. First time reading it.
You might want to take this into account...
The banks bought up the entire crypto space to $850B and started selling. I've never seen the entire space go up and down (mostly down lately) together.
Watch the US bond market and I would bet the banks are scaring the new crypto investors back into their checking accounts.
Just spit balling
TWM
hold yr ripple because future seems to be bright
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