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Altcoin Thursday: XRP

30 SEPT 2021 | ZebPay Trade-Desk
Ripple (XRP), has been witnessing a battle between the bulls and the bears. The trend that the asset has set for itself, suggests some indecisiveness among investors and traders alike. Having said that, volumes have been on the rise over the past few days, indicating that after falling about 12% last week, the asset became increasingly attainable and attractive for investors. 




XRP after surging almost by 173% from $0.516 to $1.415 faced stiff resistance at higher levels and witnessed a sharp correction almost by 39% making the low of $0.859. Although Cake has been trading in the downward trend over a month, the asset has taken support at a very crucial level of $0.8596 (61.8% Fibonacci Retracement Level) and has started consolidating. Currently, the prices are trading in a range from $0.868 to $1 with low volumes. Breakouts on either side with good volumes will further decide the trend for the asset.

Support 2Support 1AssetResistance 1Resistance 2
$0.708$0.859XRP$1.01$1.20

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation, or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness, or reliability of the information, opinions, or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurrencies viz. Bitcoin, Bitcoin Cash, Ethereum, etc. are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice.

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