Ripple (XRP) Bounce Back Should be Treated with Caution


Ripple (XRP) Needs Further Consolidation if it is to Push Higher

The volatile trade over the weekend saw Ripple drop form $0.68 to a low of $0.53 in a 24-hour period before rallying back to a current level of $0.65. The fall was part of a wider sell-off in the whole cryptocurrency space that saw the market’s capitalization hit a four-month low of $276 billion. Korean Won buyers were noticeable, trading at an average price of $0.678 at the Bithumb exchange.

The one-hour chart highlights the sharp rebound but still leaves the market undecided on the next move with lower prices still more likely with the green $0.58 to $0.68 one-hour candle vulnerable likely to be re-tested.

Ripple (XRP) Price Chart One Hour Time Frame (March 15 – 19, 2018)

Ripple (XRP) Bounce Back Should be Treated with Caution

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The daily Ripple chart still highlights strong resistance starting at $0.85/$0.86 area and is expected to hold unless market fundamentals change completely.

Ripple (XRP) Daily Price Chart in US Dollars (November 11, 2017 – March 19, 2018)

Ripple (XRP) Bounce Back Should be Treated with Caution

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