Speculative price range for XRP/USD is 0.85000 to 1.42000.
Ripple has not been able to create a violent trend upwards and maintain it the past two months. While other major cryptocurrencies are challenging highs, XRP/USD has maintained a rather middling area within its 3-month charts. If current support near the 1.05000 level falters and trading were to drop below the 1.00000 and become sustained this would be a bearish signal. Ripple does tend to correlate to the major cryptocurrency market with reactive moves. If the broad market were to become suddenly nervous and XRP/USD is pressured, it is conceivable a test of the 90 cents mark which was challenged in late September could unfold again.
However, if XRP/USD maintains the 1.10000 support level and buying remains strong, speculators may continue to target the 1.18000 to 1.20000 marks. If Ripple can maintain its current upwards mobility and the broad cryptocurrency market stays positive, there is plenty of reason to suspect the 1.22000 high of October could be surpassed in November. Sustaining values above the 1.20000 for a solid duration of time could be a bullish indicator for XRP/USD. Traders should not get overly ambitious with Ripple. Yes, it can produce solid percentage changes in value, but its price range has also demonstrated a rather comfortable stance.
Traders pursuing upside or downside momentum within XRP/USD should use take profit and stop loss orders which do not reach for the moon, particularly if a large amount of leverage is being used. Ripple remains an important cryptocurrency, but one that trades in a rather sedate manner compared to some of its other more speculative counterparts.
Ripple has not been able to create a violent trend upwards and maintain it the past two months. While other major cryptocurrencies are challenging highs, XRP/USD has maintained a rather middling area within its 3-month charts. If current support near the 1.05000 level falters and trading were to drop below the 1.00000 and become sustained this would be a bearish signal. Ripple does tend to correlate to the major cryptocurrency market with reactive moves. If the broad market were to become suddenly nervous and XRP/USD is pressured, it is conceivable a test of the 90 cents mark which was challenged in late September could unfold again.
However, if XRP/USD maintains the 1.10000 support level and buying remains strong, speculators may continue to target the 1.18000 to 1.20000 marks. If Ripple can maintain its current upwards mobility and the broad cryptocurrency market stays positive, there is plenty of reason to suspect the 1.22000 high of October could be surpassed in November. Sustaining values above the 1.20000 for a solid duration of time could be a bullish indicator for XRP/USD. Traders should not get overly ambitious with Ripple. Yes, it can produce solid percentage changes in value, but its price range has also demonstrated a rather comfortable stance.
Traders pursuing upside or downside momentum within XRP/USD should use take profit and stop loss orders which do not reach for the moon, particularly if a large amount of leverage is being used. Ripple remains an important cryptocurrency, but one that trades in a rather sedate manner compared to some of its other more speculative counterparts.