Ripple analysis for 27/11/2018

Ripple is still visible in the headlines because it announces new partnerships with various banks around the world. Although it was linked to several large banks, it has not yet had a major impact on the United States. However, the latest rumor has it that Ripple can prepare a deal with Bank Of America, which would greatly strengthen the digital currency. Such voices have already appeared in early October this year.

Such rumors are a great opportunity to buy this currency. However, traders should be careful when buying the only gossip, because if it turns out to be false, prices can go down.

Let's now take a look at the Ripple technical picture at the daily time frame chart. Recently, the XRP / USD pair fell below the first support line at $ 0.37. In this case, it is likely to re-test the lowest-than-year site at the level of $ 0.24. The zone between 0.22 and 0.24 dollars will probably be a strong support. Long-term investors can wait until prices stabilize at lower levels and then buy some of their desired allocations. The rest can be added at higher levels, because the digital currency begins a new upward trend. If bulls defend the current level, an increase in growth is expected if bulls reduce their resistance at $ 0.76. The goal that can be viewed on the plus side is $ 1.2.


The material has been provided by InstaForex Company -