Drop Ripple it never does. Will the growth end of the week?

The price of Ripple continues to decline in trading pair with the us dollar. Cryptocurrency are unable to resist the onslaught of the bears. They erased almost all the gains that are obtained by the investors in October during the rapid growth of XRP. Drain Aldona can significantly accelerate if the sellers will be able to lower Ripple than 34 cents.

The General situation looks like this:

  • cryptocurrency failed to break the resistance area 36 cents and rolled down;
  • on the 1-hour chart has formed a descending trend with the nearest resistance around 35 cents;
  • there is a high probability continue to fall.

At the moment the Ripple is trading at the level of 0.35 dollars. In the past 24 hours the course of the coin virtually unchanged.

Technical analysis

Now the main target of the bears remains the line 30 cents — there may be followed by the asset price in the near future. Ripple continues to consolidate near the resistance area that buyers are still can not overcome.

Scale 1-hour XRP chart is below the moving average 100 SMA and the lines of the local downtrend. To break it difficult, as the nearest point now coincides with the Fibonacci 0.5 level, laid on the last wave draining from 37 to 34 cents. For steady growth at least in the medium term, XRP must overcome 100 SMA with good trading volumes.

While not recommend you to open a trading position in XRP, as the market there is no clear trend. If you invest in Ripple for the long term, the asset can be buy at market price without leverage.

Image source — NewsBTC

In the near future make a profit to fuck with Ripple will be possible only through the shorts. Technical indicators say about the impending discharge: the MACD was in bearish zone, and the RSI dipped below average.

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