Ripple (XRP) cryptocurrency payment protocol, has shown aggressive growth in recent days, from $0.25 to $1.3 at the time of writing this note.
With the lowest commission in the market and with a transaction time of 3 seconds make Ripple becomes the cryptocurrency par excellence for financial institutions, allowing transactions to circulate quickly making this easy for any user profile.
Five days ago the Ripple snatched the third place in the table which belonged to Bitcoin Cash, Ripple exceeded $44 billion dollars in market capitalization, since it lost days later when the price of Bitcoin Cash increased.
Ripple was made available to Coinbase users. The cryptocurrency is now part of the portfolio thus allowing for a greater acquisition.
Later Ripple announced the appointment of Zoe Cruz a veteran in the world of finance with a reference to have worked at the firm Morgan Stanley. Zoe is now part of the board of directors of Ripple playing a very important role in making financial decisions.
Ripple exceeds $1 being a very special day for the cryptocurrency, at the time of writing this note Ripple devoured the market with a price around $1.28 and with an upward trend in which we could consider a close in the 2017 cycle above of the $1.90
There is no doubt that Ripple is a cryptocurrency that has been talked about a lot in the last hours, also considered as one of the cryptocurrencies that will rise to the top in 2018.
The strategic negotiations between Ripple and banking entities have created an atmosphere of stability and progress allowing new investors to participate in the growth of the cryptocurrency.
Let’s solely look at the price pattern. Classic standard pivot point is $1.14708. On the upside, the stock will face resistance at the 1.17516 level, followed by another resistance at 1.22532 levels and at 1.25340 levels. Now that we have the resistance, we can move on to some support levels. The first level of support, or S1, is $1.09692, $1.06884 held as second level of support and 1.01868 is the third level of support on the downside.
From at least one technical indicator, Ripple (XRP) price is definitely getting overbought. Its Stoch has a rating at 65.716. The Williams %R is also telling the same story, displaying a value of -7.260. In addition RSI oscillator has reached to 69.126 which means buy. The STOCHRSI suggests that XRPUSD is buy with 58.832.