XRP to start soon
XRPBTC had a very good 2017 with over 30.000% increase due to it¨s constant expanding towards Banks. Although few banks are using the coin itself XRP but most of them the Ripple platform the coin looks like a good long term investment. Affected by inflation and fear of investors that Ripple will release in the circulation all the 100 bln coins, Ripple made an escrow last year locking out an important quantity of coins in order to reduce this 'fear'.
Comming back to the current situation i see Ripple at a good entry price, although kind of skeptic due to the fact that the current XRPBTC price is under all 4 Moving Averages (9,13,20 and 50 days). Another point that makes me skeptical is the fact that Ma20 (red line) curving makes it go under MA50 (blue line) which is not a good sign. If the price will further corect i think MA200 is a good support as indicated on the graps. However there are 2 arguments that make me bullish on Ripple and those are: the Consensus 2018 conference starting on 14 of May and the fact that Revolut is about to allow it's users to buy Ripple on it's app. (forecasted on 14th of May according to coinmarketcal)
Let's see who will win.. Bulls or Bears.
Enjoy!
Comming back to the current situation i see Ripple at a good entry price, although kind of skeptic due to the fact that the current XRPBTC price is under all 4 Moving Averages (9,13,20 and 50 days). Another point that makes me skeptical is the fact that Ma20 (red line) curving makes it go under MA50 (blue line) which is not a good sign. If the price will further corect i think MA200 is a good support as indicated on the graps. However there are 2 arguments that make me bullish on Ripple and those are: the Consensus 2018 conference starting on 14 of May and the fact that Revolut is about to allow it's users to buy Ripple on it's app. (forecasted on 14th of May according to coinmarketcal)
Let's see who will win.. Bulls or Bears.
Enjoy!
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