Could Ripple be on the rise?

By September 2, 2018 No Comments
Cryptocurrency Ripple XRP Market Price

Ripple (XRP) could be about to start a new cycle as it has managed to have a pretty special correction.
Most investors, particularly the ones who have not been exposed to Ripple before, would find it hard to believe that the third largest cryptocurrency by market capitalization has fallen from above $3 to its current value. It is now valued at $0.34.
This large correction highlights the fact that XRP managed to attract many people looking to make the quick buck. However, there are many investors who also look at Ripple as a long-term investment. These people are of the belief that it will eventually be the most valuable asset in a trillion dollar forex market.
XRP is ready to begin a new cycle
It is difficult to predict exactly when and how this new cycle will begin but one thing is clear. Ripple has bottomed out for now and it is completely ready to now begin its ascent.
XRP’s price has been trading in a large bullish pattern that extends back all the way to 2017 which tells us that it had two large rallies in just under two years.
Most of its trading period has been spent in the red and even if the green days are lesser in number, they have certainly been stronger.
The number of XRP holders is one of the highest in the cryptosphere
The decline in price is certainly one of the main reasons for there being as many XRP owners as there are. XRP’s price could go up in a matter of a few weeks and then stay down for the remainder of the year. It is crucial to note that when it comes to Ripple, the number of owners is the highest among all investors in this space. Ripple managed to reach the limit of its movement within a falling wedge and is now ready for a strong breakout that could signal the start of a new rally for the token. In the past, Ripple capitalized on news of partnerships deals with many large financial institutions and this optimism is what helped it cross the $3 mark.
Ripple could work its way back to that valuation and could even top it. Overall, the company seems to be in a strong position in spite of all of the challenges it has faced in the past year.

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