It is an interesting weekend for those who watch the encryption fan, especially XRP. There was an update on the Ripple case of the SEC and not a terrible news, but not good.
According to the analyst, XRP is currently dealing with about $ 2.43, but the situation is a bit shaken. In the last three days, XRP has tried to break through the major resistance of $ 2.62, but failed every time. If the buyer and large investor (such as institutions) are strong in the market, this is not a good signal because XRP has easily crossed at that point. More badly, instead of going up, the price actually fell below $ 2.50 yesterday.
At this stage, the market is slightly weaker than optimism. Analysis shows that if XRP wants to look positively, it must go up to $ 2.50 or higher and exceed $ 2.62 with strong purchase support.
If the XRP keeps at $ 2.30 or more, the situation is still controlled. However, if it falls below that level, the trader must be ready for $ 2.00. That’s why the level of $ 2.30 is very important now.
Prepare all the possibilities
Despite these short -term worry, the long -term prospects for XRP are still positive. Many people still think that XRP can reach $ 10 by mid -2012 and even dreams of $ 100 for the next five to ten years. But the way there will be no smooth.
The encryption market is unpredictable. Prices can increase or collide without warning, and according to history, bull runs can be short. Some people think that Bull Market is already over when Bitcoin touches $ 110,000 and Altcoins have a moment, but others are optimistic.