2019 has been a year full of ups and downs for the crypto space. A lot of crypto assets have had an interesting year and Ripple’s XRP is just one of them. Ripple is currently in the red by just shy of a percent at the time of writing but this year, the token is still down by around 15 percent.
However, things could be getting ready to change as the token finally starts to move in the lead up to the firm’s Swell event in November.
So this month could be seen as the second coming for XRP. since the start of October, XRP has been able to climb around 20 percent from an 18 month low below $0.25 XRP has made it back to around the $0.30 range and the next challenge is to break this.
In fact, if we look at the weekend just gone, we can see that Ripple’s token is up almost 12 percent with daily trading volumes reaching $1.7 billion as XRP began to see some resistance on the day.
This move comes as Bitcoin’s dominance continues to break down.
Don’t get us wrong, XRP still has a long way to go as it is still down from its January 2018 peak by around 90 percent when it hit $3.
So for this reason, the XRP community has gone into a frenzy world of bullishness for the token but looking at the long-term chart paints a crystal clear entry-level here.
Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!
Traders are hoping to look at the next move for XRP and past current prices the next resistance level seems to be around $0.32.
“Falling wedge closed as price gets past $0.28, caused a lot of bullish momentum. Next target @ R1 ($0.32) – we could reach $0.40 by end of next month!”
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