As is well known, the Ripple price has been supported at around $0.30 for weeks. However, for the past few weeks, the price has been additionally forming a trendline heading towards the $0.30 support. Because of this, a descending triangle has formed. This triangle is now in the final third, so the price could break out at any time. Since descending triangles are trend continuation formations, we expect the price to break out in a bearish manner. The probability of such a price movement is around 70%. This is a fairly high probability, unlike, for example, symmetrical triangles.
The Ripple price still has two supports before it, until we can no longer see any in the chart, as the historical data is missing. The next support is around $0.23. Because of this, we are only assuming for the time being that the price will fall by 7 cents in the next few weeks. After that, the price could recover a bit. In the long term, we expect the price to drop to $0.175. In our opinion, this level will be reached sooner or later.
My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange!
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAIWomplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free!LiteCoinPay -
The #1 FaucetPay earner for LitecoinLBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!FaucetPay - The #1 Microwallet PlatformFREEBTC - The #1 FaucetPay earner for Satoshi'sFaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily
Comments
Post a Comment