XRPUSD (Ripple) – Week 9 – Messy consolidation
The price of Ripple (excepting the very volatile day of Tuesday 23 February where the price dropped from 63 cents to 36 cents on the dollar) remained mainly in the same range between the resistance and the support area, respecting also the blue trendline marked on the chart. We see the price dropping further, touching the low of the support area or testing the trendline before a reversal to the upside or a bigger consolidation that would fuel another leg down.
XRPscan informed us over the week that the former CTO of Ripple, Jed McCaleb, has moved more than 135 million XRP from his wallet in six separate transactions. The amount that Jed McCaleb cashed out is approaching the sum of $58 million. In other news, GlobalID introduced the first of its kind debit card denominated in XRP, however neither Ripple nor the XRP Ledger is affiliated with this initiative.
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.
XRPscan informed us over the week that the former CTO of Ripple, Jed McCaleb, has moved more than 135 million XRP from his wallet in six separate transactions. The amount that Jed McCaleb cashed out is approaching the sum of $58 million. In other news, GlobalID introduced the first of its kind debit card denominated in XRP, however neither Ripple nor the XRP Ledger is affiliated with this initiative.
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.
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