I like the idea of looking for value and building a position in the long run. I think there’s enough time to get involved in what could be an explosive rally before it’s all said and completed.
Ripple has surpassed the $ 0.75 level in the last few days. This suggests that we are probably ready to go higher, based on the fact that we have formed a great “V-bottom”.It is worth noting that some problems will occur as the 50-day EMA has shown some resistance. After all, I think this is a market where you have to worry about the 200-day EMA as well as its technical indicators.
It is worth noting that in addition to technical concerns, the market must also be concerned about the ongoing proceedings with the SEC in the United States. But recently, there have been some suggestions that Ripple may have a decent debate to get out of the proceedings. It will almost certainly send this market straight, as it will allow Ripple to be used by US banks.
If we can exceed the $ 0.90 level, we may turn to the $ 1.00 level, which is an area of great importance in this market. Ripple, like almost every other market, respects these big numbers, so it makes a lot of sense that it’s hard to break above the $ 1.00 level. If we exceed that level, it is clearly a very bullish sign for the market and we can send it towards the next $ 1.10 level.
Ripple continues to kill time towards the proceedings, so I think it’s likely that we won’t see any backlash over the next few days. The market is very volatile and Ripple remains a bit more subdued than some other crypto markets, but they continue to fluctuate. That said, as Bitcoin continues to recover, it can lift Ripple itself very well. After all, Bitcoin is mostly driving the entire market. The market will continue to be driven by headlines, but there is also a willingness to take overall risk when it comes to common cryptocurrencies. I like the idea of looking for value and building a position in the long run. I think there’s enough time to get involved in what could be an explosive rally before it’s all said and completed.
