Among the most popular of the cryptocurrencies from the Ripple, perhaps now more likely to increase. In the afternoon on Thursday, July 5, Ripple trades at $0,4900 and slightly lowered.
The technical picture still allows the possibility of growth. This is confirmed by the hourly schedule of cryptocurrency, which remains in force line bullish trend according to the level of $0,4900, said Dmitry Gurkovsky, senior analyst at RoboForex.
The daily schedule is not contrary to this movement. If Ripple will remain above $0,4900 and impulse purchases will increase, new goals lift may be found around $0,5000, and $0,5050.
You should carefully observe the $0,4750, after the test where bullish momentum has started to gain strength. This same mark is currently able to contain the attacks of the “bears”, who also cannot be ruled out completely.
Key support for Ripple is the turn of $0,4900, where now the focus of investors. Significant resistance level is around $0,5050. The MACD on the daily chart is very smoothly and slowly increases in the negative area, shaping a buy signal. The Stochastic oscillator is rising in the positive region confirms the previously obtained signal to buy.
Among the interesting Ripple to the fundamental news it is worth noting information about the launch of trading this cryptocurrency on a regulated Australian cryptocurrency exchange. Now the exchange supports trading in some Fiat currencies and cryptocurrencies, including Bitcoin, Ethereum and others. Trading Ripple must be running on Saturday, July 7.
However, not all news regarding the Ripple, is positive. The company is once again facing claims of price manipulation, and this is not the best thing that could happen. A private investor notes that the leadership of the Ripple in order to obtain the benefits for themselves manipulated the technology and price, resulting in quotes of the cryptocurrency did not differ objectivity.
The market continues to actively discuss whether the Ripple asset or a security. The decision of the SEC on this matter is still clear: none of the virtual currency is not a security or a currency, but the debate at the level of the market still continues.
Novatel Ripple, Mr. Heringhaus repeatedly said that his token has nothing to do with securities. The market refers to the famous Howey test, which created the U.S. Supreme court half a century ago. If one of the parent bodies will refer to this test and will publish its findings on this score, the dispute about what exactly is a token Ripple will fail.
Forecasts financial markets are private opinion of their authors. The current analysis is not a guide to trade. RoboForex is not responsible for the results that can occur when using trade recommendations submitted reviews.