The recent crypto sell-off sent many cryptocurrencies crashing. Not so with Ripple, on the contrary even. Ripple continues to trade within its triangle pattern. As per our Ripple price forecast for 2019 we remain firm believers that Ripple’s XPR token will be among the outperformers. The recent sell-off did not change this forecast, on the contrary, it reinforced this prediction. Similarly, not any of our 5 must-read cryptocurrency predictions for 2019 was impacted.
This article is not about fundamentals nor is it about relative strength in the crypto market. We focus on the impact of this week’s sell-off only on Ripple.
With the recent sell-off in cryptocurrencies it is interesting to note how Ripple respected its trading pattern. Particularly, this triangle pattern that started with the September lows and the giant breakout end of September is in play now.
Presumably, this pattern will resolve sooner rather than later, for sure before the end of this year but likely in the next 2 to 3 weeks (if not earlier).
Whether it will be an upside breakout or breakdown is tough to tell as a lot will depend on what Bitcoin does. As explained in great detail to our premium crypto subscribers last night the $4500 level in Bitcoin is quite crucial and might be a game changer.
How to play the next trend in Ripple? Pretty easy, as both the breakout and breakdown levels are clear, so anyone can take a position once “it” happens. Note, though, that the rule of 3 has to be respected: you need at a minimum 3 consecutive days of trading above or below a level to get a confirmation. This, as well, is explained in great detail in our blockchain & crypto investing research service >>
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