Author: Dmitriy Gurkovskiy, Chief Analyst at RoboForex

After an eventful week, the XRP is slightly going down on Feb 1, Friday, trading around $0.3084.

The crypto has been going down for over a month, with large moves and tight ranges taking turns. When the price reached $0.2772 and the MACD converged, the coin did what it was supposed to: started an upward correction. Whether this is a usual pullback or a midterm ascending trend, remains yet to be seen, as, currently, the price is just starting to form an ascending pattern. In case the price goes back to the broken out resistance, it may test it in order to decide whether to stay above or not. If the XRP manages to go up, it could reach 38.20% ($0.3456) and 50% ($0.3658) Fibo. Conversely, if the support at $0.2925 gets broken out, the price may then stay near the low at $0.2772.

Meanwhile, rumor has it that Ripple may have supplied inaccurate information on the number of RippleNet members.

A certain blog article says 200 financial companies that form the RippleNet client base may in fact be small firms or even startups without any equity and offices. For instance, FTCS, the one that promotes Intergito wallet, had only $1M turnover in 2017, which is quite mediocre for a company that facilitates financial transactions.

Of course, this is just an opinion that could be questioned. Crypto Eri also made a video in response to the blog going over Trolly McTrollface’s claims about Ripple and disputing most of them.

This year, Ripple said they were going to continue inviting new members to RippleNet; namely, 13 companies may soon become new RippleNet clients and partners.

Still, negative news is something Ripple has to deal with for over the last few weeks. As such, in mid January, there was an article saying a company called Valor was going to destroy Ripple and take in XRP. The Ripple management then had to interfere and calm the users down.

Disclaimer

Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.


Image(s): Shutterstock.com, MT5


Mark is a 25 year old cryptocurrency entrepreneur. He was introduced to Bitcoin in 2013 and has been involved with it ever since. He used to mine bitcoins and altcoins but now focuses on blogging and educating others about digital currencies.

3 COMMENTS

  1. You are garbage.You are not just only damaging crypto world also spreading fud and lies here by posting this article written by trolly Mctrollface? What is your point?

  2. Bitcoin and cryptocurrency has been a major talking point between my colleague and staff at work and so last year i decided to go into deep in it not withstanding my little knowledge in it and how I can equally benefit from it. After doing some research and watching several videos on how it work I decided to give it a try and guess what I bought 5 BTC, and I left it in my wallet expecting the price to increase in some months time because before the year ended in 2017 the price was more x20 of what it was in January that same year and this was done following the instructions I got from my colleague but the profit I expected never came, in short, the reverse was the case. So I decided to do deep research on how I can profit and gain more value for my coins but some trading I did turned out negative. And so I continued my research until I found a beginners trading post talking about a strategy on how to trade and make profit. I was skeptical of first but I decided to give it a try and contact the person in charge, Mr. Charles Robert, he explained to me the different ways to make profit in this bearish market. I invested 2 BTC of my coin, and it quickly rose to 6 BTC towards the end of December 2018, and I was convinced that this is the best way to make a good profit from Bitcoin. If you’re still confused about the steps to take this year I urge you to contact [email protected] for all your cryptocurrency questions, strategy and beginners coaching.

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