MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network


Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 ©

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



Expert In



Ripple to exit its continuation pattern?

The price of Ripple has settled at 0.9229 level far below today's high of 0.9936 after failing to make a new higher high. Technically, the cryptocurrency failed to validate further growth, so a potential drop is favored again. XRP/USD is vulnerable to slide further as the price of Bitcoin violated a support level.

BTC/USD potential drop may force XRP/USD to decline as well. Ripple moves sideways in the short term, that's why we have to wait for a fresh opportunity before taking action again. XRP/USD is up by 1.23% in the last 24 hours but it's still in the red in the last 7 days.

XRP/USD upside invalidated


Ripple registered a false breakout with great separation above the triangle's resistance, above the weekly pivot point (0.9503), and through the 50% retracement level. A downside breakout from the Triangle formation is in cards again even if yesterday's breakout was invalidated in the early morning.

Dropping and stabilizing under the minor uptrend line could indicate a further drop to the level of 61.8% (0.8579) at least, around the weekly S1 (0.8516) level. Its failure to reach and retest the median line (ml) signaled strong pressure.

Ripple forecast

After today's false breakout with great separation, XRP/USD is likely to slip lower. The psychological level of 0.8500 is seen as a potential downside target. The near-term major target is seen at the Descending Pitchfork's lower median line (lml).

The material has been provided by InstaForex Company -