image fromPixabaybyMiloslav Hamřík
The feeling that XRP is firmly rooted in the 1USD range is very good.
If the weekly bar is 1USD or more and the closing price settle,
technically it can be expected to be even higher. However,
we are also concerned about the trial with the SEC.
There may be a battle for supremacy behind the scenes.
there may be the people who are deprived a share by growth of XRP.
I'll expect more than 6USD in the little future.
CEO Ripple's positive tweets have contributed to the recent rise.
First of all, the highest price ever for XRP is 3.5USD,
which was reached in 2017.
This time, I would like to look at both Technical analysis and fundamentals.
Positive Factor - 1
For example, there is what is often referred to in technical analysis as
"double the decline."
Simply put, in a bull market,
It may rise twice as much as it fell.
But not 100%.
Bitcoin has already achieved this double return.
If so, my theory is that XRP may also be doubled.
If the difference between ATH 3.5USD and the lowest price of 0.13USD is 3.37USD, x2 = 6.74.
0.13+6.74 = 6.87USD,
so it will be calculated to exceed 6USD with a margin.
Positive Factor - 2
It is already in practical use. It seems that some financial institutions,
both domestic and overseas are operating it on a trial basis,
and I think that the field will expand further in the future.
The Ripple CEO is also considering a partnership
with the CBDC and seems to have begun development.
Should a partnership with a central bank be realized, it could be a factor in raising prices.
Positive Factor - 3
The price of BTC is strong.
This is that it is a driving force that pushes up the market price of all crypto assets.
Negative factor - 1
Since it has exceeded 100 yen and has risen in a hurry,
Perhaps it may be adjusted to around 23.4% or 38.4% in Fibonacci.
Let's keep it in mind.
Negative factor - 2
As I mentioned earlier, there is also the political question of whether Ripple can win the huge competition
for the international remittance market.
Ripple CEO, please lobby properly.
The most important thing !
Anyway, if it is actually used frequently for international remittances etc.,
price fluctuations may be inconvenient as the original position as bridge currency,
so I think the price will settle down in the future.
From the above, I think that a bright future is waiting for XRP holders.
Thank you for reading.
I am not a financial advisor. All contents on this blog are solely my own personal views
and for cryptocurrency trading education.
In the unlikely event that the funds cannot be collected, I will not take any responsibility.