Cryptocurrency

Hovering sword on the Ripple rate of the Damocles?

Welcome to our brand new edition to the Ripple rate. We dedicate ourselves today to the question of whether the XRP price against Bitcoin (BTC) has finally found his ground or not.As we know, XRP Hodler God knows there is not easy. Not only that, you must often defend themselves against the accusation that they hold on to a worthless Coin with no future, but also because of the XRP exchange rate and its development has left convinced Community members of Ripple noticeable scars. Alone in the year 2019, the XRP price has lost over Bitcoin around 75 per cent in value.But since half a year, the XRP price has compared with Bitcoin is a significant support line that has shown since the lower limit of the value of the decay.

Probably the last Bastion for the XRP price

But how likely is it that the XRP price has really found its floor? To answer this question, let us work together to have a look at the Chart throw.As you can see, the current support line at around 2,500 Sats a trend line that extends all the way back in the year 2015. It is definitely an indicator that has meaning. Therefore, it is not surprising that it has slows down the XRP price, and another case, already for half a year successfully. But it is also really the floor?In fact, the will probably be dependent on whether it is the XRP rate will succeed that of the above-approaching 50 MA-Weekly to break through or not. The bullish scenario would be that the XRP price take only around 4,000 Sats his next serious resistance will be found. That would be a value increase of around 60 percent compared to Bitcoin.But it must hold the current support level for the time being. It does not hold, then we are likely to see a rapid crash to 1,200 Sats. This would be, accordingly, more than 50 percent below the current price level. So you could say that at least in the short to medium term, the current support line is the last Bastion for the XRP price. It will be exciting to watch whether this will hold in the next few weeks or not.Read also: Bitcoin exchange rate Pump, only a bull trap or the start of an upward rally?Do you want to position in time on the market?If you are convinced should be, that anything said could be true, then it may benefit for you at the time of this to Know. It is the decision of whether and how you the market position, of course, entirely up to you. We are here to help you to find the right entry point for your trade. Are you perhaps still in search of a reliable, regulated Broker that you trade with Leverage (2x),taking Long and Short positions,deposits via PayPal,the Sending of real Bitcoins in your Wallet andthe use of a wide range of trading tools,without a Download of any Software is necessary?Then, the world’s leading Social Trading platform, eToro is the Right choice for you!A pleasant Design and easy and intuitive operation with customer service around the clock. Register today, without obligation, and try out all the features of the platform, without being forced to trade with real money.What are you waiting for? Do you want to read about it or it is in their own hands? Your Trading start today, and profit from the strong fluctuations of the Bitcoin exchange rate.62 % of private CFD accounts lose money. No EU investor protection.You look better Videos to read the article? Then look at our Youtube Channel over. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.