Cryptocurrency Ripple (XRP) on Thursday, September 13, grows moderately and is trading at $0,2712. The virtual currency thus retains received before the momentum of recovery after a protracted period of decline, according to a leading analyst RoboForex Dmitry Gurkovsky.
Right now XRP is above two trend bearish lines are located at $0,2600 and $0,2690, and while the price is on them, there to resume the downside a little. At the same time, the potential recovery is limited: it is possible that near $0,2750 XRP will meet with resistance. The following lines, is able to restrain the appreciation of cryptocurrency are $0,2800 and $0,2900.
Pay attention that now the price of XRP is above the 100-hour moving average. This is a positive for buyers, but they will be competing with the technical levels that are located further “North”.
Key support for XRP is at $0,2650. Significant resistance is at $0,2800. The MACD on the daily chart is still “slides” down into the negative zone and maintains a sell signal. The Stochastic oscillator is starting to grow in the positive area and gives a signal to buy.
The fundamental background for Ripple until mixed. Among the positive feedback received recently, you should pay attention to the news about the end of litigation, between the Ripple and the company R3. The details of the agreement, if it exists, is not disclosed. Let me remind you that the legal litigation started last fall and dealt with the claims of the company R3 to the conduct of the acquisition Ripple serious amount of tokens. Ripple, in turn, filed a R3 counter-accusations of Treaty violations, and on many points.
Ripple has previously been used to consolidate several lawsuits into one, proving that the speech goes about the same. This decreased level of alertness to the company by investors, and reduced the financial costs.
Earlier it became known that Ripple is planning to develop and promote a mechanism for the implementation of international payments, and is regarded as a strategic market of China.
According to the Executive Director of Ripple Jeremy light (Jeremy Light), the Chinese market is very interesting for the company. However, while Ripple made little headway in this direction: in the summer the company signed a partnership agreement with China’s LianLian, but more about any significant events in this matter is not reported. The demand in this market, of course, enormous, but in China there is a ban on cryptocurrencies and ICO, which significantly complicates the work with the target audience.
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.