XRPUSD (Ripple) – Week 44 – Breaking to the upside
Jordan Belfort, a former stock broker whose fraudulent behavior and outrageous lifestyle were glamorized by Leonardo DiCaprio in "The Wolf of Wall Street" movie, has come out a supporter of XRP. In a recent tweet, Belfort claims that he owns a six-figure sum in the controversial cryptocurrency, which the U.S. Securities and Exchange Commission alleges is an unregistered security. The American entrepreneur predicts that the price of XRP could hit $10. In such a case, its market cap would have to be near the $500 billion mark.
Technically, in the last week Ripple made a correction that touched the $1 area and bounced back up after it reached it. For this week we are expecting a breakout to the upside. If the price breaks the orange trendline and consolidates above, that would be a good sign for an entry to ride the next wave to the upside.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, in the last week Ripple made a correction that touched the $1 area and bounced back up after it reached it. For this week we are expecting a breakout to the upside. If the price breaks the orange trendline and consolidates above, that would be a good sign for an entry to ride the next wave to the upside.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
