It is an exciting weekend for encryption lovers, especially for those who watch XRP closely. There was an update about the Ripple status with SEC, and although it is not terrible news, it is not great either.
According to the analyst, Currently, XRP is trading about $ 2.43 – but the situation is a little anxious. Over the past three days, XRP has tried to penetrate the key resistance level at $ 2.62, but it failed each time. This is not a good sign because if buyers and big investors (such as institutions) are strong in the market, then XRP must have elaborated this point easily. Worse, instead of upgrading, the price has already decreased to less than 2.50 dollars yesterday.
At this stage, the market tends to a little more ascending. According to the analysis, in order for XRP to look positive again, it needs to return to the top of $ 2.50 – and perfectly decrease $ 2.62 with strong purchase support.
If XRP continues to stay over $ 2.30, things are still under control. But if it is less than this level, traders must be ready for the price to decrease to $ 2.00. This is why the 2.30 dollar support level is very important.
Be ready for all possibilities
Despite these short -term fears, the outlook of the XRP is still positive. Many people still believe that XRP can reach $ 10 by mid -2016 and even dream of $ 100 in five years to the next ten years. But the road will not be smooth.
The encryption market is unpredictable. Prices can rise or break without warning, and history shows that the bull runs can be short -term. While some believe that the emerging market may actually end after touching Bitcoin $ 110,000 and that Altcoins was their moments, others remain optimistic.
