XRPUSD (Ripple) – Week 16 – Consolidation poised for a breakout
Ripple and Novatti Group have announced a partnership that will see RippleNet and ODL used in remittances. The partnership will focus on Australia and the Philippines, and it is part of Ripple's overall strategy to sign deals in the Asia Pacific region.
Ripple Labs' Chief Technical Officer, David Schwartz, has been offering some encouraging investing tips, but it comes at an unusual moment. Simply put, the CTO believes that anybody with significant numbers of various cryptocurrencies should seriously consider selling any of them in order to reduce the chance of loss and overexposure.
Technically, Ripple had a big up move that reached the top of $1,95 USD on the 14th of April. Since then, it is in a consolidation that has a very high probability of breaking to the upside. The correction can continue and drop to reach the support area but it will eventually bounce back to start a new up move.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Ripple Labs' Chief Technical Officer, David Schwartz, has been offering some encouraging investing tips, but it comes at an unusual moment. Simply put, the CTO believes that anybody with significant numbers of various cryptocurrencies should seriously consider selling any of them in order to reduce the chance of loss and overexposure.
Technically, Ripple had a big up move that reached the top of $1,95 USD on the 14th of April. Since then, it is in a consolidation that has a very high probability of breaking to the upside. The correction can continue and drop to reach the support area but it will eventually bounce back to start a new up move.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
