Ripple [XRP] Price Analysis Prediction / Mar. 2

hello everyone. before moving on to the video we ask you to
support us and subscribe to our channel please. ripple could be in line for another sell-off
as the 200-SMA looked to cross above the 50-SMA. Down the ladder, Ripple projected to stick
to a fixed channel, with a breakout largely dependent on the future movement of market
leaders Bitcoin and Ethereum. The bearish nature of ripple’s market was
evident on its 4-hour chart as the price remained below the 200-SMA (green) despite a slight
recovery at the time of writing. Moreover, the long-term moving average looked
positioned to cross above the 50-SMA (blue). The last time this development took place
was when a lawsuit was announced by the U.S. Securities and Exchange Commission against
Ripple which resulted in a massive price drop and a bear market that lasted for over a month. The MACD line floated just above the signal
line but momentum seemed weak on the buying side. The Stochastic RSI also tipped in favor of
the bulls. A strong sell-off could be avoided if the
indicators maintain a positive stance.

If the sell-off does take place at the current
level, $0.25 support could be in focus. ripple has formed a downtrend since February
22 and has been slowly declining towards a recent low of $0.39. Ripple bulls aim for a 75% breakout if they
can conquer a key resistance level. On the daily chart, ripple has formed an inverse
head and shoulders pattern which has established a resistance level at $0.62. In the short-term, it seems that ripple bulls
have the upper hand as the number of whales holding at least 10,000,000 coins has increased
by 10 since the beginning of February The resistance level formed at $0.62 is the
key for a massive 75% breakout. The bullish price target in the long-term
would be located at $1.10 as there is very little resistance above $0.75. However, it's important to remember that ripple's
performance has been really bad in the past few months and a breakdown below $0.40 would
invalidate the inverse head and shoulders pattern
in the interest of brevity, Ripple price is bounded inside an inverse head and shoulders
pattern.

The number of whales has seen a significant
uptrend in the past two weeks. Ripple could be on its way to a massive 75%
breakout if key level breaks Subscribe to our channel and open notifications
to learn more about gold, dollar, Euro, commodities, bitcoin, altcoin, cryptocurrencies and other
investment tools. İn this video references an opinion and is
for information purposes only. It is not intended to be investment advice. Every investment and trading move involves
risk, you should do your own research while making a decision. ripple xrp,
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