Ripple is a system that allows real-time fund transfers and currency exchange, this system has a native currency called XRP which is the third-largest cryptocurrency, after Bitcoin and Ether. In my opinion, XRP has a very good risk/reward ratio in the market right now which means you stand to gain a lot more for taking a comparatively smaller risk. For the investors/traders that are not averse to risky speculative investments, putting a reasonable amount of money into XRP could potentially turn out to be an excellent investment. The price of Ripple currently stands around $0.31 and according to technical analysis, the downtrend is not over yet. Some analysts believe that the end capitulation is right around the corner and Ripple could be one of the best performers on the cryptocurrency market in the upcoming months. Ripple is consistently adding new clients, many financial institutions are also using the Ripple protocol in order to transfer money from one part of the globe to another. If you are looking for virtual currencies with a good return, Ripple can be a profitable investment option according to estimates.
The cryptocurrency market has posted a minor recovery in the last several hours but the negative trend is still very strong. The current resistance levels are $0.5, $0.6, $0.8 and $1, $0.3 represents the current support level. It is very hard to predict where the price of XRP will go, but if the price jumps above $0.6 it would probably reach $0.8 in the short time period. If the price jumps above $1 we have an open way to $1.5. If the price drops below $0.3 support that would be a strong “SELL” signal.
Recommendation: If you’re looking to invest in Ripple, you would be able to make good returns according to the price predictions in the next several years. I would recommend everybody to be careful and to invest a small sum of money in Ripple, the best time period for me is between 3-5 years, hold and wait. According to technical analysis, as long the price is below $1 the risk will remain towards the downside. If the price jumps above $1 that could be a very good opportunity for the short term traders, short-term traders can put the stop loss at $0.8 and take profit at $1.5 or above. If the price drops below $0.30 support that would be a “SELL” signal and the open way to $0.25.