Hello Crypto-Community,
It’s wrong to check futuristic XRP price predictions without hovering over its near-past specially last year 2021...
XRPUSDT 1D:
Fundamental analysis:
For those who don't know, XRP is said to be centralized, it is closely associated with several banks, investment companies, and organizations worldwide, it is also strongly affected by SEC (US Securities and Exchange Commission) since 2020.
From April to June 2021, the market saw a strong drop in the XRP rate more than two times: from $1.83 to $0.51. This happened amid the ongoing litigation between the SEC and Ripple, In June, the SEC requested to extend the case consideration by two months, which the court granted. From June to the beginning of September, against the backdrop of a lull in the court, XRP’s rate increased from $0.51 to $1.39.
On December 4 2021, the asset lost around 30% within a day. Although all cryptocurrencies declined that day, Ripple was the worst-hit crypto amid the overall market plunge. Such a dramatic fall was caused by the unstable Ripple market position driven by the SEC lawsuit.
This indicates that this coin is highly sensitive to fundamental analysis (i.e. SEC decisions) !
As for technical analysis:
The first strong supply zone resistance is $0.557, and the second one is $0.725.
XRP formed a double top and double bottom which may indicate increase or decrease in price.
Bollinger Band squeeze indicates decrease in volatility for now before price action (up or low momentum)
Volumes seems to be normal no significant changes assessed.
In my point of view:
XRP (or centralized coins in general) cause in most cases "Headaches" and should be avoided for more risk managed trading.
Never forget that Ripple became stuck in a lawsuit with the Securities and Exchange Commission (SEC).
Based on what i stated, i would like to demonstrate my predictions on the chart above
Feel free to see it.
Best wishes to all traders worldwide
It’s wrong to check futuristic XRP price predictions without hovering over its near-past specially last year 2021...
XRPUSDT 1D:
Fundamental analysis:
For those who don't know, XRP is said to be centralized, it is closely associated with several banks, investment companies, and organizations worldwide, it is also strongly affected by SEC (US Securities and Exchange Commission) since 2020.
From April to June 2021, the market saw a strong drop in the XRP rate more than two times: from $1.83 to $0.51. This happened amid the ongoing litigation between the SEC and Ripple, In June, the SEC requested to extend the case consideration by two months, which the court granted. From June to the beginning of September, against the backdrop of a lull in the court, XRP’s rate increased from $0.51 to $1.39.
On December 4 2021, the asset lost around 30% within a day. Although all cryptocurrencies declined that day, Ripple was the worst-hit crypto amid the overall market plunge. Such a dramatic fall was caused by the unstable Ripple market position driven by the SEC lawsuit.
This indicates that this coin is highly sensitive to fundamental analysis (i.e. SEC decisions) !
As for technical analysis:
The first strong supply zone resistance is $0.557, and the second one is $0.725.
XRP formed a double top and double bottom which may indicate increase or decrease in price.
Bollinger Band squeeze indicates decrease in volatility for now before price action (up or low momentum)
Volumes seems to be normal no significant changes assessed.
In my point of view:
XRP (or centralized coins in general) cause in most cases "Headaches" and should be avoided for more risk managed trading.
Never forget that Ripple became stuck in a lawsuit with the Securities and Exchange Commission (SEC).
Based on what i stated, i would like to demonstrate my predictions on the chart above
Feel free to see it.
Best wishes to all traders worldwide
