Ripple Price Outlook – Ripple Continues to Hover Around a Large Number

XRP Technical Analysis

Ripple has been fairly quiet during the Good Friday trading session, which of course is not a huge surprise considering that most institutional traders aren’t bothered to trade, but Ripple of course has been a focus of a lot of attention over the last several months, as late last year it exploded from basically 50 cents all the way up to the $3.40 level. Since then, we have pulled back pretty significantly showing signs of hesitation and weakness. But now we are, I believe in the process of trying to find some type of range to trade over the longer term.

We are just below the 50-day EMA and just above the 200-day EMA, which is also backed up by the $2 level. If we were to break down below the $2 level, we could see this market drop back to the $1.60 level, where we had bounced from a couple of weeks ago. After that, then you have the $1.50 level. Anything below there just sends Ripple right back into the abyss. Now, there have been some major legal victories for Ripple over the last year or so, but really at this point in time, now we need to see some type of risk appetite enter the markets overall before Ripple really takes off to the upside.

I think a lot of what you’re seeing here is retail interest, which is fine for a while, but over the longer term, you’d need institutional money flowing into Ripple to make it viable. Will banks start to use Ripple to do cross border payments? Maybe, I mean, some do right now, but the question is, will it be widespread? spread adoption, or will this have been another flash in the pan? I do think the $2 level right now at least seems to be fair value. If we can break above that 50-day EMA, then a run to the $2.50 level would be my expected move.

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