XRP/USD: As a Sentiment Indicator Ripple Sounds a Loud Alarm

XRP/USD is traversing important near term lows as this morning; this after the cryptocurrency has not been able to break through persistent resistance.

XRP/USD is trading near 34 and half cents as of this writing.  Highs achieved over the weekend may have had speculators dreaming about penetrating the 37 cents level, but resistance continued to be demonstrated and XRP/USD declined going into today’s trading. A high slightly above the 37 cents level was seen on Friday.

Ripple is a Solid Behavioral Signal for things to come in Cryptocurrencies

XRP/USD did attain a high slightly above 38 cents on the 20th of July.  On the 24th of June XRP/USD was trading within sight of 39 cents. On the 30th of June XRP/USD was trading barely above 30 cents. And on the 13th of July, less than two weeks ago Ripple was also trading within sight of 30 cents again. For all of the movement created upwards from the lows of the 13th until the 20th of July when 38 cents was being challenged, things have not really changed for XRP/USD regarding sentiment.

Ethan Andrews

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