The bulls made several attempts to break and sustain the price above the downtrend line but the bears did not relent. Hence, our buy suggested in the previous analysis did not trigger.
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MARCH BLOGS
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 8TH MARCH 2022– UPDATED CONTENT
A minor positive is that the bulls are accumulating on dips to the 50-day SMA. Both moving averages have flattened out and the RSI is near the midpoint. This suggests a balance between supply and demand.
The bulls will again try to push and sustain the price above the downtrend line. If they succeed, the XRP/GBP pair could rise to £0.60 and then attempt a rally to the overhead resistance at £0.67.
Short-term traders may attempt to ride this move higher after the price decisively closes above the downtrend line.
This short-term bullish view will invalidate if the price turns down and breaks below £0.50. That could open the doors for a possible retest of the support at £0.46.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 1ST MARCH 2022
XRP dipped to £0.46 on February 24, close to our projected support zone of £0.43 to £0.40. The XRP/GBP pair rose above the 50-day SMA on February 25 but turned back from the downtrend line on February 26.
A minor positive is that the bulls defended the 50-day SMA and the price bounced off this level on February 28. This indicates that the sentiment remains positive and traders are buying on dips.
This increases the possibility of a break above the downtrend line. If that happens, the pair could rally to the overhead resistance zone of £0.67 to £0.70 where the bears are expected to mount a stiff resistance. Short-term traders may attempt to ride this likely move higher on a break and close above the downtrend line.
Contrary to this assumption, if the price turns down from the current level and breaks below the 50-day SMA, it will indicate that bears continue to sell on rallies. The pair could then drop to £0.50 and later to £0.46.
FEBRUARY BLOGS
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 22TH FEBRUARY 2022
XRP bounced off the 20-day EMA and attempted to rise above the overhead resistance at £0.63 but the bears had other plans. The long wick on the February 19 candlestick indicates selling near the resistance.
The XRP/GBP pair turned down on February 20 and broke below the moving averages on February 21. The 20-day EMA has started to turn down and the RSI has slipped into the negative territory, indicating that bears are in control.
If bears pull and sustain the price below the psychological support at £0.50, the pair could drop to the strong support zone at £0.43 to £0.40. A break and close below this zone will indicate the resumption of the downtrend.
Conversely, if the price turns up and breaks above the moving averages, the pair may remain range-bound for a few days. The trend may favour the bulls on a break and close above £0.68.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 15TH FEBRUARY 2022
XRP closed above the overhead resistance at £0.63 on February 8 but the bulls could not sustain the higher levels. The bears pulled the price back below the breakout level and the XRP/GBP pair plunged to the 50-day SMA on February 11.
The bulls aggressively defended the level and the pair rebounded sharply on February 12. The moving averages have completed a bullish crossover and the RSI is in the positive territory, indicating advantage to buyers.
If bulls push and sustain the price above £0.63, the pair could rally to the stiff overhead resistance at £0.77. Traders may consider long positions on a break and close above £0.63 with a stop placed below £0.57.
If the price turns down from the current level and plummets below £0.55, the pair could drop to £0.51. Such a move will suggest that the recent break above £0.63 could have been a bull trap.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 8TH FEBRUARY 2022
XRP’s rally has surprised us. We were anticipating a relief rally to £0.51 as suggested in the previous analysis but we did not expect a move above £0.63.
The XRP/GBP pair picked up momentum after breaking above £0.51. This may have caught several aggressive bears on the wrong foot, resulting in a short squeeze.
Coupled with strong buying, the pair has risen above £0.63. If bulls sustain the price above this level, the pair could rise to £0.70 and then to the strong resistance at £0.77.
The 20-day SMA has started to turn up and the RSI has jumped into the overbought territory, indicating a change in trend.
Alternatively, if the price fails to sustain above £0.63, the pair could drop to the 50-day SMA, which is likely to act as a strong support. A strong rebound off this level will increase the possibility of a move to £0.77. However, a break below the 50-day SMA could indicate a range-bound action in the short term.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 1ST FEBRUARY 2022
XRP attempted a recovery on January 26 but the bulls could not sustain the higher levels as seen from the long wick on the day’s candlestick. However, a positive sign is that buyers have not allowed the price to dip below £0.43 for the past few days.
This increases the likelihood of a relief rally to the overhead resistance at £0.51. The downsloping moving averages and the RSI in the negative territory indicate that bears have the upper hand.
If the price turns down from £0.51, it will suggest that bears continue to defend the level aggressively. The pair could then consolidate between £0.40 and £0.51 for a few days.
The next trending move could start if bulls push the price above £0.51 or bears sink the pair below £0.40.
JANUARY BLOGS
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 25TH JANUARY 2022
XRP turned down and broke below the strong support of £0.51 and the December 4 intraday low of £0.46 on January 21. This indicated the resumption of the downtrend.
The bulls have been defending the £0.40 support for the past few days but have not been able to achieve a strong rebound off it. This suggests a lack of aggressive buying at higher levels.
If bears sink the price below £0.40, the XRP/GBP pair could plummet to £0.36 and later to £0.30.
On the upside, a break and close above the psychological level at £0.51 will be the first sign that markets have rejected the lower levels. A trend change may be signalled on a break and close above the 200-day SMA.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 18TH JANUARY 2022
XRP bounced off £0.51 on January 10, indicating that bulls are attempting to defend the psychological support at £0.50. However, the recovery fizzled out at £0.58, suggesting that traders continue to sell on rallies.
The downsloping 50-day SMA and the RSI in the negative zone indicate that bears have the upper hand.
The bears will now once again try to sink and sustain the price below £0.51. If they succeed, the XRP/GBP pair could plummet to the December 4 intraday low of £0.46.
Contrary to this assumption, if the price turns up from the current level and breaks above £0.58, the pair could rally to £0.62.
A break and close above this level will be the first indication that the selling pressure may be reducing. The pair could then attempt a rally to £0.77.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 11TH JANUARY 2022
XRP turned down from £0.64 on January 2 and plunged below the support at £0.56 on January 5. The long tail on the day’s candlestick indicates that bulls bought the dip and tried to start a recovery.
Though the bulls pushed the price back above £0.56 on January 6, they could not build upon this move. This suggests that the bears are selling on every minor rally.
The price once again turned down and broke below £0.56 on January 7. A minor positive is that the bulls have not allowed the bears to have their way and are again trying to push the XRP/GBP pair back above £0.56.
The RSI is trying to form a positive divergence, which indicates that the selling pressure could be reducing. If bulls push and sustain the price above £0.56, the pair could rise to the 50-day SMA.
A break and close above the moving averages will suggest a possible change in the short-term trend. The pair could then start its northward march toward £1.01.
This positive view will invalidate if the price turns down from the current level and drops below the December 4 intraday low of £0.46. That could pull the pair down to £0.37.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 4TH JANUARY 2022
XRP continued lower and broke below the support at £0.63 on December 29. A minor positive is that the bulls bought this dip and are attempting a recovery. However, the bears are unwilling to relent.
The moving averages have completed a death cross, signalling that bears are in control. The sellers will now try to sink the price to the strong support at £0.56. A break and close below this level could indicate the resumption of the downtrend. The XRP/GBP pair could then drop to £0.46.
Contrary to this assumption, if the price turns up from the current level and rises above £0.63, it will suggest accumulation at lower levels. The pair will then again attempt to clear the hurdle at the moving averages. We will turn positive after the price breaks and sustains above the 200-day SMA.
NOVEMBER BLOG
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 30TH NOVEMBER 2021
XRP plunged below the support line of the ascending channel on November 26 but a minor positive is that bulls defended the strong support at £0.6911.
The bears again attempted to pull the price below this support on November 28 but the bulls defended the level aggressively as seen from the long tail on the day’s candlestick.
The current pullback could reach the 20-day EMA where the bears are likely to mount a stiff resistance.
If the price turns down and breaks below £0.6911, the bearish momentum could pick up. The XRP/GBP pair may then drop to the critical support at £0.6334. A break and close below this level could clear the path for a possible drop to £0.50.
On the other hand, a break and close above the moving averages will indicate accumulation by the bulls. The pair could then start its northward march toward the resistance line of the channel.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 23RD NOVEMBER 2021
XRP has been trading inside an ascending channel pattern. The failure of the bulls to sustain the price above the resistance line of the channel on November 10 may have prompted selling from short-term traders.
The XRP/GBP pair could now drop to the support line of the channel, which is likely to act as a strong support. If the price rebounds off this level and breaks above the moving averages, the pair could continue its up-move inside the channel. The pair will then attempt to rally to the resistance line of the channel.
The 20-day EMA is sloping down and the RSI is in the negative zone, indicating that bears have the upper hand. If bears sink the price below the channel, the pair could drop to £0.691.
A break and close below this support could open the doors for a possible retest of the critical support at £0.6334.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 16TH NOVEMBER 2021
XRP surged to £0.9812 on November 10 but the long wick on the day’s candlestick showed aggressive selling at higher levels. This indicates that bears are defending the overhead resistance at £1.0156 as we had projected in the previous analysis. The bears pulled the price back below the breakout level of £0.8924 on November 10. The bulls pushed the price back above the level on November 11 but the recovery was short-lived as the price again dipped back below £0.8924 on November 12.
The selling picked up today and the XRP/GBP pair has broken below the 20-day EMA. If the 50-day SMA also cracks, the bearish momentum may pick up and the pair could plummet to £0.75.
Alternatively, if the price rebounds off the 50-day SMA, the bulls will make one more attempt to push the pair toward the stiff overhead resistance at £1.0156.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 9TH NOVEMBER 2021
XRP broke above the overhead resistance at £0.8924 on November 4 but the bulls could not sustain the breakout. However, a minor positive was that bulls bought the dip to the 20-day EMA.
This indicates that the sentiment has turned positive and traders are buying on dips. The bulls pushed and closed the price above the overhead resistance on November 8.
The rising 20-day EMA and the RSI in the positive zone indicate that buyers have the upper hand.
The XRP/GBP pair could now rally to £1.0156 where the bears are expected to mount a stiff resistance. If the price turns down from the overhead resistance, the pair could extend its consolidation for a few more days.
The advantage will tilt in favour of the bears if they pull and sustain the pair below the moving averages.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 2ND NOVEMBER 2021
XRP plummeted below £0.731 on October 27 but the bears could not capitalize on their advantage. The pair staged a recovery on October 28 buoyed by strong buying at lower levels. The bulls have pushed the price above the moving averages, which is a positive sign. The XRP/GBP pair could now attempt a rally to £0.8468 and then to £0.8924.
Both moving averages are flat and the RSI is just above the midpoint, which suggests a few days of range-bound action. The boundaries of the range may be £0.8924 and £0.69.
A break and close above £0.8924 could clear the path for a rally to £1.0156 while a break below £0.69 could sink the pair to £0.6334.
OCTOBER BLOG
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 26TH OCTOBER 2021
We had expected XRP to rally to £1 and then to £1.20 if bulls pushed the price above the overhead resistance of £0.938 but that did not happen. The XRP/GBP pair turned down from £0.9161 on August 24 and dropped to the 20-day EMA on August 26. The price rebounded off this support on August 27 but the bulls could not challenge the overhead resistance. This suggests that bears are selling on rallies. The price has again dipped to the 20-day EMA.
The sellers tried to pull the price down on October 24 but the long tail on the day’s candlestick suggests buying at lower levels.
The bulls are now attempting to push and sustain the price above the downtrend line. If they manage to do that, the XRP/GBP pair could rise to £0.8468 and then to £0.8924.
On the other hand, if the price turns down from the current level and breaks below £0.7310, it will suggest that supply exceeds demand. The pair could then extend its decline to £0.6334.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 19TH OCTOBER 2021
In this analysis of Ripple Price GBP, the bulls bought the dip to the 20-day EMA on October 13 but they could not push the price above the overhead resistance at £0.8924. This suggests that demand dries up at higher levels.
The price turned down from £0.8468 on October 16 and bears pulled the price back below the moving averages on October 17. A minor positive is that the bulls aggressively bought the dip as seen from the long tail on the day’s candlestick.
Both moving averages are flat and the RSI is near the midpoint, indicating a balance between supply and demand.
This equilibrium could tilt in favour of the bears if the price slides below £0.7310. The pair could then drop to £0.6334. Conversely, a break above £0.8924 could open the doors for a rise to £1.0156.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 12TH OCTOBER 2021
XRP’s tight range trading between the 50-day SMA and the 20-day EMA resolved to the upside on October 9. However, the bulls could not build on this advantage as seen from the long wick on the October 10 candlestick.
The XRP/GBP pair formed a Doji candlestick pattern on October 11 and the bears are currently attempting to pull the price back below the 20-day EMA.
If they succeed, it could trap several aggressive bulls who may have purchased on a break above the 50-day SMA. If the price slips below £0.74, the selling could intensify and the pair may plummet to the £0.66 to £0.6334 support zone.
Contrary to this assumption, if the price rebounds off the current level, the bulls will attempt to push the price above £0.8924 and start a rally toward the stiff overhead resistance zone at £1.0156.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 5TH OCTOBER 2021
Ripple price GBP tight range trading between the 100-day SMA and the 20-day EMA resolved to the upside on October 1. This was the first sign that the bears may be losing their grip.
However, the XRP/GBP pair has not been able to pick up momentum since breaking above the 20-day EMA, suggesting a lack of demand at higher levels. A minor positive is that bulls have held the price above the 20-day EMA.
If the price rebounds off the current level and rises above £0.804, the pair could rise to £0.9266 and then to £1.0156. The bears are likely to defend this level aggressively but if bulls can bulldoze their way through, the positive momentum could pick up.
Conversely, if the price slips below the 20-day EMA, the bears will attempt to pull the pair to the 100-day SMA. A break and close below this level could result in panic selling.
SEPTEMBER BLOG
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 28TH SEPTEMBER 2021
XRP has been trading between the 100-day SMA and the 20-day EMA for the past few days. The failure of the bulls to push the price above the 20-day EMA suggests that sentiment remains negative and traders are selling on rallies.
If the price does not rise above the 20-day EMA within the next few days, the possibility of a break below the 100-day SMA increases. If that happens, the XRP/GBP pair could extend its slide to psychological support at £0.50.
Alternatively, if the price rises from the current levels and breaks above the 20-day EMA, it will suggest that bulls have absorbed the selling. That could clear the path for a possible move to £0.83
A break above this resistance could push the pair to £1.0156. The bulls will have to clear this level to signal the resumption of the uptrend.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 21ST SEPTEMBER 2021
After trading between the moving averages for the past few days, the bears pulled XRP below the 50-day SMA on September 19. This aggravated selling and the XRP/GBP pair broke below the September 7 intraday low of £0.6906. The bulls are currently attempting to arrest the decline near £0.64 but the relief rally is likely to face stiff resistance at the 20-day EMA. The moving averages are close to a bearish crossover and the RSI is in the negative territory.
If the price turns down from the 20-day EMA, the bears will try to resume the downtrend. If the price slips below £0.64, the decline could extend to the next major support at £0.50.
A breakout and close above the 20-day EMA will be the first indication that the bears may be losing their grip.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 14TH SEPTEMBER 2021
Although bulls pushed XRP above the overhead resistance at £0.938 on September 6, we had warned that bears are unlikely to give up easily and will try to pull the price back below the level and trap the aggressive bulls. That is what happened on September 7 when the XRP/GBP pair plunged to the 50-day SMA. The bulls bought the dip but since then, they have not been able to push and sustain the price above the 20-day EMA.
The price is currently sandwiched between the moving averages. A break and close below £0.69 could result in aggressive selling that may pull the price down to £0.50.
On the other hand, a breakout and close above the 20-day EMA could open the doors for a retest of the overhead zone of £0.938 to £1.0156. A breakout of this zone will signal that bulls are back in the driver’s seat.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 7TH SEPTEMBER 2021
The bulls successfully defended the 20-day EMA on August 30, which may have attracted buying on August 31. After hesitating near £0.938 for a few days, the buyers finally scaled this resistance on September 6. If bulls sustain the price above £0.938, the XRP/GBP pair could rally to the overhead zone of £1.20 to £1.4319.
However, the bears are unlikely to give up easily. They will try to pull the price back below the breakout level of £0.938. If that happens, the pair could drop to the 20-day EMA.
If the price bounces off this level, the bulls will again try to resume the uptrend. But if the pair dips below the 20-day EMA, it will suggest that supply exceeds demand. That could open the doors for a decline to the 50-day SMA.
AUGUST BLOG
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 31ST AUGUST 2021
We had expected XRP to rally to £1 and then to £1.20 if bulls pushed the price above the overhead resistance of £0.938 but that did not happen. The XRP/GBP pair turned down from £0.9161 on August 24 and dropped to the 20-day EMA on August 26. The price rebounded off this support on August 27 but the bulls could not challenge the overhead resistance. This suggests that bears are selling on rallies. The price has again dipped to the 20-day EMA.
The RSI has dropped below 56, which suggests that the bullish momentum may be weakening. If bears pull the price below the 20-day EMA, the pair could extend the decline to the 50-day SMA.
This negative view will invalidate if the price rebounds off the current level and breaks above the overhead resistance at £0.938. Such a move will suggest that bulls have overpowered the bears and may signal the resumption of the uptrend toward £1.20.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 24TH AUGUST 2021
Traders who had bought on our earlier recommendation are sitting on huge profits within a short time. XRP picked up momentum after it broke above the resistance line of the descending channel on August 11.
Both moving averages are sloping up and the RSI is in the overbought zone, indicating that bulls are in command.
If buyers propel and sustain the price above £0.938, the XRP/GBP pair could rally to £1 and then to £1.20. Traders may book partial profits at the current level and trail the rest with the stops placed below the 20-day EMA.
This positive view will invalidate if the price turns down from the current level and breaks below the 20-day EMA. Such a move will suggest that traders are closing their positions on rallies. The pair could then drop to the 50-day SMA.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 10TH AUGUST 2021
The tight range consolidation between the 20-day EMA and the overhead resistance at £0.53566 resolved to the upside on August 7. This triggered the buy recommendation given in the previous analysis. The bulls are struggling to sustain the upward momentum as bears are attempting to pull the price back below the breakout level.
If the XRP/GBP pair rebounds off the current level and breaks above the resistance line of the descending channel, it will indicate a possible change in trend. The pair could then rally to £0.77.
Traders can keep the stop-loss below the 20-day EMA but trail it higher after the bulls push the price above the descending channel. A break and close below the moving averages will suggest that the bears have made a comeback.
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 3RD AUGUST 2021
The bulls pushed XRP above the 50-day SMA on July 28 but they could not clear the hurdle at £0.53566. This suggests that the bears have not yet given up and are defending the overhead resistance aggressively. The moving averages have completed a bullish crossover and the RSI is in the positive territory, indicating that buyers are in command. If the price rebounds off the 20-day EMA, the bulls will again try to push the pair above £0.53566.
If they can pull it off, the XRP/GBP pair could start a rally to the resistance line of the descending channel. A breakout and close above the channel will signal the start of a new uptrend. Short-term traders may buy on a breakout and close above £0.53566 with the stops placed below the 20-day EMA. The stops could be trailed higher as the price moves up. Long positions may be avoided if the price drops below the moving averages. Such a move will suggest that the pair could remain range-bound for a few more days.
JULY BLOGS
RIPPLE PRICE GBP – HOW TO TRADE XRP/GBP 27TH JULY 2021
Ripple price GBP after struggling near the 20-day EMA for two days, the bulls pushed the price to the 50-day SMA on July 26 but the long wick on the day’s candlestick suggests that bulls aggressively sold at higher levels. https://youtu.be/Tq20nfwyTIw
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE RIPPLE PRICE GBP CHART
If the price turns down from the current level or the overhead resistance and plummets below £0.3668, the pair could drop to the support line of the descending channel. On the other hand, if the bulls drive the price above the 20-day EMA, it will suggest that the selling pressure has reduced in the short term. The pair may then rise to the 50-day SMA. We are not proposing a trade in it as the trend is down.
Ripple price GBP – HOW TO TRADE XRP/GBP 20TH JULY 2021
Ripple price GBP has continued its downward march, indicating a lack of buying from bulls. The downsloping moving averages and the RSI near the oversold territory suggest the path of least resistance is to the downside. If bears sink and sustain the price below the critical support at £0.3668, the XRP/GBP pair could slide to the £0.25 to £0.28 support zone. The deeper the fall, the longer it will take for the pair to stage a recovery. https://youtu.be/HqLiaD4Kvq4
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE RIPPLE PRICE GBP CHART
Contrary to this assumption, if the Ripple price GBP rebounds off £0.3668, the bulls will again try to propel the Ripple price GBP above the 20-day EMA. If they succeed, it will suggest that sellers are losing their grip. Conversely, if the price again turns down from the 20-day EMA, the possibility of a further downside increases.
Ripple price GBP – HOW TO TRADE XRP/GBP 13TH JULY 2021
XRP has b
XRP has been gradually drifting lower for the past few days. The downsloping moving averages and the RSI in the negative zone suggest that bears are in control. The sellers will try to sink the XRP/GBP pair to the next major support at £0.36680. If this support gives way, the bearish momentum may pick up. The next major support on the downside is the £0.25 to £0.28 support zone.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE RIPPLE PRICE GBP CHART
Conversely, if the price rises from the current level or rebounds off the £0.36680 support, the bulls will try to drive the pair above the 20-day EMA. If they succeed, the pair could rise to the stiff overhead resistance of £0.53566. If the price turns down from this resistance, the pair could remain range-bound between £0.36680 and £0.53566 for a few more days. On the other hand, a break above £0.53566 could set the stage for a stronger relief rally.
Ripple price GBP – HOW TO TRADE XRP/GBP 6TH JULY 2021
The ripple price GBP held previous support at £0.53566 acted as a stiff resistance on June 29 and the bulls could not push XRP above it. Since then, the price has been trading close to the 20-day EMA. This suggests that the bulls are not dumping their positions yet and they may make one more attempt to clear the hurdle at £0.53566. If they manage to do that, the XRP/GBP pair could rise to the 50-day SMA and then to £0.70.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE RIPPLE PRICE GBP CHART
On the other hand, if the bulls fail to push the Ripple price GBP above £0.53566, the pair could decline to £0.42. A break below this support could retest the June 22 low at £0.36680. If this support cracks, the downtrend could resume. The ripple price GBP pair could then decline to the £0.25 to £0.28 support zone. Aggressive traders may consider buying on a breakout and close above £0.53566. This is a risky trade hence 50% of the usual allocation size may be used. Traders may keep a close stop-loss and trail it higher as the price moves up.
JUNE BLOGS
Ripple price GBP – HOW TO TRADE XRP/GBP 29TH JUNE 2021
XRP is trading inside a descending channel. Both moving averages are sloping down and the RSI is below 40, indicating that bears are in control. The XRP/GBP pair bounced off £0.3668 on June 23 but the bulls are struggling to push the price to the breakdown level of £0.53566. This suggests a lack of aggressive buying by the bulls even at these levels as they are not confident that a bottom has been made.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE RIPPLE PRICE GBP CHART
If the price turns down from the current level or the overhead resistance and plummets below £0.3668, the pair could drop to the support line of the descending channel. On the other hand, if the bulls drive the price above the 20-day EMA, it will suggest that the selling pressure has reduced in the short term. The pair may then rise to the 50-day SMA. We are not proposing a trade in it as the trend is down.
Ripple price GBP – HOW TO TRADE XRP/GBP 22ND JUNE 2021
Ripple price GBP bulls could not push XRP above the 20-day EMA in the past week, indicating the trend remains bearish and the sellers are defending the resistance aggressively. The selling continued and the bears pulled the xrp to gbp price below the £0.53566 support on June 21. This breakdown has opened the doors for a further fall to the support line of the descending channel.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE RIPPLE PRICE GBP CHART
Both moving averages are sloping down and the RSI is near the oversold zone, indicating the path of least resistance is to the downside. Contrary to this assumption, if the XRP/GBP pair turns up from the current level and breaks above the 20-day EMA, it will suggest that lower levels are attracting buyers. We will wait for the xrp price gbp bulls to push and sustain the ripple to gbp price above the 20-day EMA before turning positive.
Ripple price GBP – HOW TO TRADE XRP/GBP 15TH JUNE 2021
Ripple price GBP rebounded off the £0.53566 support on June 8 but the bulls are struggling to push the xrp to gbp price above the 20-day EMA. This suggests that demand dries up at higher levels. The downsloping moving averages and the RSI in the negative territory indicate an advantage to the bears. If the xrp price gbp turns down from the current levels, the bears will make one more attempt to break the £0.53566 support.
If they succeed, the XRP/GBP pair will complete a descending triangle pattern that may result in a xrp price gbp drop to the support line of the descending channel near £0.30. On the contrary, if the bulls push the ripple to gbp price above the 20-day EMA, the pair may rally to the 50-day SMA. This level may again act as a stiff resistance. However, if the bulls defend the 20-day EMA during the next dip, it will suggest that bulls are making a strong comeback. A breakout and close above the resistance line of the channel will suggest that the downtrend is over. We do not find any reliable buy setup at the current level, hence, we are not recommending any trades in it.
Ripple price GBP – HOW TO TRADE XRP/GBP 8TH JUNE 2021
Ripple price GBP turned down from the 20-day EMA on June 4, suggesting the sentiment remains negative and traders are selling on rallies to this resistance. The XRP/GBP pair could drop to £0.53566, which is likely to act as strong support. However, a break below this level could clear the path for a further fall to £0.46167 and then to the support line of the descending channel.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE RIPPLE PRICE GBP CHART
The ripple price gbp downsloping moving averages and the RSI in the negative territory indicate the bears are in command. Contrary to this assumption, if the price rebounds off £0.53566, the bulls will again try to push the pair above the 20-day EMA. If they succeed, the pair could rise to £0.77421. We do not find any reliable buy setup at the current level, hence, we suggest traders remain on the sidelines. We will wait for the price to break and sustain above the 20-day EMA for three days before turning positive.
Ripple price GBP – HOW TO TRADE XRP/GBP 1ST JUNE 2021
Ripple price GBP is trading inside a descending channel. The bulls are attempting to stage a recovery but are facing resistance at the 20-day EMA. If the bulls push the price above the 20-day EMA, the XRP to GBP pair could rally to the 50-day SMA, which is likely to act as a stiff resistance. The bulls will have to push the price above the resistance line of the channel to signal a change in trend.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP TO GBP CHART
Contrary to this assumption, if the Ripple Price GBP turns down from the current level, the bears will try to pull the price below £0.53566. If they succeed, the pair could drop to the support line of the channel. The price action is likely to remain volatile for the next few days. As the pair has been a huge underperformer, we will wait for a reliable buy setup to form before recommending a trade in it.
MAY BLOGS
Ripple price GBP – HOW TO TRADE XRP/GBP 25TH MAY 2021
Ripple price GBP we had suggested traders buy on a breakout and close above the triangle but the trade did not trigger because XRP to GBP could not close above the triangle on May 18. However, this breakout above the triangle could have trapped the aggressive bulls. The selling intensified on May 19 and the XRP to GBP pair plunged below the triangle to hit an intraday low of £0.5828. The bulls tried to stage a recovery on May 20 but could not push the Ripple price GBP price back into the triangle.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP TO GBP CHART
As a result, the Ripple price GBP pair turned down and declined to £0.46167 on May 23. The downsloping 20-day EMA and the RSI in the negative territory suggest the bears are in control. The current relief rally is likely to face stiff resistance at the 20-day EMA. A reversal from this resistance could pull the Ripple price GBP pair down to £0.60 and then £0.46167. We do not find any reliable setup at the current levels, hence we are not suggesting a trade in it.
Ripple price GBP – HOW TO TRADE XRP/GBP 18TH MAY 2021
XRP price GBP bulls successfully defended the 50-day SMA support on May 13, indicating buying at lower levels. XRP is currently trading inside a symmetrical triangle, which usually represents a continuation pattern. If the bulls can drive and close the price above the resistance line of the triangle, the XRP to GBP pair could rally to £1.43191. A breakout and close above this resistance could start the next leg of the uptrend, which could reach £1.95.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP TO GBP CHART
On the contrary, if the XRP to GBP price turns down from the resistance line, the XRP to GBP pair may remain range-bound inside the triangle for a few more days. A break and close below the triangle could attract selling. That could result in a decline to £0.70 and then £0.60. Traders may buy on a breakout and close above the triangle. This is a risky trade as the overall sentiment in the crypto sector is bearish. Hence, keep the position size less than 50% of usual and the stops tight. Keep trailing the stops higher if the XRP to GBP price moves northward to limit the risk.
Ripple price GBP – HOW TO TRADE XRP/GBP 11TH MAY 2021
XRP price GBP broke above £1.21368 on May 6 but the bulls could not sustain the higher levels as seen from the long wick on the day’s candlestick. We had anticipated such a bull trap, hence we had not recommended any long positions in the previous analysis. The xrp to gbp pair plunged below the 20-day EMA on May 10, suggesting a change in the short-term sentiment. Although the bulls defended the 50-day SMA on May 10, the relief rally is likely to face stiff resistance at the 20-day EMA.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP TO GBP CHART
If that happens, the xrp to gbp pair may remain stuck between the moving averages for a few days. A break below the 50-day SMA will signal weakness and that could pull the price down to £0.68519 and then to £0.6050. This negative view will invalidate if the xrp to gbp price turns up and breaks above £1.2729. Such a move could open the doors for a rally to £1.43191.
Ripple price GBP – HOW TO TRADE XRP/GBP 4TH MAY 2021
XRP price GBP had said in our previous analysis that the relief rally in XRP may face stiff resistance at the 61.8% Fibonacci retracement level at £1.11603 and that is what happened. The bulls pushed the price above £1.11603 on April 30 but they could not sustain the higher levels. Profit-booking has dragged the price down to the 20-day EMA.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP TO GBP CHART
If the bears sink the XRP to GBP price below the 20-day EMA, the XRP/GBP pair could drop to £0.90 and then to the 50-day SMA. Such a move will suggest the bullish momentum has weakened and that may keep the pair range-bound for a few days. Conversely, if the price rebounds off the 20-day EMA with strength and rises above £1.21368, the pair may retest the 52-week high at £1.43191. However, due to the negative sentiment in the sector, we are not recommending a trade in it.
APRIL BLOGS
Ripple price GBP – HOW TO TRADE XRP/GBP 27TH APRIL 2021
Ripple price GBP plunged to the 50-day SMA on April 23 but the long tail on the day’s candlestick suggested the bulls purchased this dip aggressively. The failure of the bears to break the 50-day SMA support could have attracted dip buyers who pushed the price back above the 20-day EMA on April 26.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP TO GBP CHART
The rebound in the Ripple price GBP pair is likely to hit a wall at the 61.8% Fibonacci retracement level at £1.11603. If the price turns down from this level but rises off the 20-day EMA, it will suggest that traders are buying on dips. That may increase the possibility of a further rally to £1.25495 and to £1.43191. On the other hand, if the price turns down from the current level and dips below the 20-day EMA, it will indicate that traders are selling on rallies. That could pull the price down to the 50-day SMA. Due to the uncertainty, we are not recommending any trade in it.
Ripple price GBP – HOW TO TRADE XRP/GBP 20TH APRIL 2021
We recommended Ripple price GBP traders to book profits at £1.12 in our previous analysis as we anticipated a correction or consolidation. Although XRP rose to a high of £1.43191 on April 14, the bulls could not sustain the higher levels. Profit-booking started a correction from April 15 and the GBP XRP pair plunged to the 20-day EMA on April 18. Traders defended the 20-day EMA but have not been able to sustain the prices at higher levels.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP TO GBP CHART
That led to further selling and the price has again dropped back to the 20-day EMA. If the GBP XRP pair doesn’t rebound off the 20-day EMA with strength, it will suggest that traders are not buying the dips. That may result in a further decline to £0.80. Alternatively, if the pair rebounds off the 20-day EMA, a move to £1.15 is possible where the bears are likely to step in. A breakout of £1.15 will signal that the bulls are back in command.
Ripple price gbp – HOW TO TRADE XRP/GBP 13TH APRIL 2021
Ripple price gbp did not crack the £0.588 support and continued its upward march after a minor consolidation between April 7 to 9. The rally easily overtook the projected target objective of £0.824 and has surged to an intraday high of £1.28 today. However, the sharp rally of the past few days has pushed the RSI to 81 levels. This suggests the XRP/GBP pair is overbought in the short term and could enter a correction or consolidation.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP TO GBP CHART
The long wick on today’s candlestick shows profit-booking at higher levels. Traders can close 80% of their positions at the current levels and keep the remaining with a trailing stop-loss. We suggest booking profits on the majority of the position because strong uptrends tend to correct sharply. When that happens, the paper profits can evaporate quickly. Therefore, traders should book profits when the rally looks overextended. A break below £0.95 could attract aggressive selling and pull the XRP GBP price down to the 20-day EMA.
Ripple price GBP – HOW TO TRADE XRP/GBP 6TH APRIL 2021
Ripple price GBP soared above £0.48718 and £0.58847 on April 5 with a 41.54% rally for the day. Traders who had bought GBP XRP on our earlier recommendation have made huge gains within the past few days. The bears tried to pull the price below £0.58847 today but the long wick on the day’s candlestick suggests that the sentiment has turned bullish and traders are buying the dips.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP TO GBP CHART
If the bulls can drive the Ripple price GBP above £0.68, the XRP/GBP pair could rally to the next target objective at £0.824. However, traders should not get greedy. They must trail their stops to protect their paper profits because if the Ripple price GBP breaks below £0.588, the correction could deepen to £0.48718. A break below this support will suggest that traders dumped their positions at higher levels and that could keep the pair range-bound for a few more days.
MARCH BLOGS
Ripple price GBP – HOW TO TRADE XRP/GBP 30TH MARCH 2021
Ripple price gbp plunged on March 24 and broke below the moving averages. However, the positive sign was that the bulls did not allow the price to sustain the lower levels. They quickly bought the dip and pushed the price back above the moving averages on March 25.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE RIPPLE PRICE GBP
The Ripple price gbp bulls will now try to drive the XRP GBP price above the minor resistance at £0.43561. If they succeed, the Ripple price gbp pair could rally to £0.48718. This level may act as a stiff resistance, hence traders may book partial profits near this level. We are not suggesting to book profits on the entire position because if the bulls can thrust the price above £0.48718, the pair could pick up momentum. The upsloping moving averages and the RSI in the positive territory indicate advantage to the bulls. This positive view will invalidate if the bears sink and sustain the price below £0.35. For now, traders can keep their stop-loss at £0.30. The stops may be trailed higher after the bulls push the price above £0.43561.
Ripple price GBP – HOW TO TRADE XRP/GBP 23RD MARCH 2021
Xrp price GBP broke above the £0.355 overhead resistance on March 20, triggering the buy recommendation given in an earlier analysis. Both moving averages are sloping up and the RSI has risen close to the overbought territory, suggesting that the bears are attempting to make a comeback.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP
However, the long wick on March 22 and today’s candlestick suggests bears are selling on rallies. This could pull the price down to the breakout level at £0.355. If the price rebounds off this support, the bulls will again try to resume the up-move. The first target objective on the upside is £0.48718 and then £0.58847. Traders may trail their stop-loss to £0.30 and raise the stops further after a successful retest of £0.355. Partial profits could be booked at £0.48718 and the rest of the positions can be trailed with a suitable stop-loss.
Ripple price GBP – HOW TO TRADE XRP/GBP 16TH MARCH 2021
The XRP price GBP turned down from the overhead resistance on March 10 and slipped below the 20-day EMA. The selling continued and dragged the price below the 50-day SMA on March 12. This suggests bears are aggressively defending the higher levels. The price could now remain range-bound between £0.27916 to £0.355 for a few more days. The flat moving averages and the RSI near the midpoint also point to a possible consolidation.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP
However, if the bulls can drive the price above £0.355, the XRP/GBP pair is likely to pick up momentum and start its journey towards £0.48718. Therefore, we retain the buy trade proposed in the previous analysis. This bullish view will invalidate if the pair turns down from the current levels or the overhead resistance and breaks below the £0.27916 support. Such a move could start a downtrend that may reach £0.15.
Ripple price gbp – HOW TO TRADE XRP/GBP 9TH MARCH 2021
Ripple price gbp has been trading near the £0.355 overhead resistance for the past few days. When the price trades in a tight range near a resistance, the possibility of a break above it increases. If the bulls can push and sustain the Xrp price GBP above £0.355, the Ripple price gbp pair could rally to £0.40 and then to £0.48718.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP
On the contrary, if the Ripple price gbp price turns down from the current level and dips below the moving averages, it may extend its stay inside the £0.27916 to £0.355 range for a few more days. The flat moving averages and the RSI just above the midpoint also suggest a balance between supply and demand. However, in a bull phase, there comes a period when most under-performers start to move up. To capitalise on any such opportunity, traders may buy if the Ripple price gbp sustains above £0.355 for a few hours. The initial stop-loss may be kept at £0.25, which can be trailed higher as the price moves northward.
Ripple price GBP – HOW TO TRADE XRP/GBP 2ND MARCH 2021
XRP price dropped to £0.252, just below the £0.27916 support as suggested in our previous analysis. The price has since then been trading between both the moving averages that have flattened out. The RSI just below the 50 level also does not suggest an advantage either to the bulls or the bears.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP
This could keep the XRP price range-bound between £0.27916 and £0.355 for a few more days. A breakout of this range could open the doors for a rally to £0.48718 while a break and close below £0.25 could start a deeper correction. The altcoin has been a huge underperformer during the current bull run, therefore, we are not suggesting a long position at the current levels. However, during a bull phase, almost all coins go through their own bull trends. Therefore, if the XRP price GBP sustains above £0.3550 for a few hours, traders may consider initiating long positions with an initial stop-loss below £0.25. The stops may be trailed higher as the price moves northward.
FEBRUARY BLOGS
XRP PRICE GBP – HOW TO TRADE XRP/GBP 23RD FEBRUARY 2021
XRP price GBP continues to be range-bound between £0.3550 and £0.48718. The altcoin outperformed and rallied on February 22 when most major altcoins were deep in the red. However, the bulls could not push the price above the overhead resistance at £0.48718 and that attracted profit-booking from short-term traders. By the end of the day, the XRP price GBP had given up a large part of its gains.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP
Today, the bears are trying to sink the XRP price GBP below £0.3550. If they manage to do that, the XRP price GBP could drop to the next support at £0.27916. On the other hand, if the bulls defend the £0.3550 support, the pair could extend its stay inside the range for a few more days. A breakout of £0.48718 will signal an advantage to the bulls and that may result in a rally to £0.58847. However, as the sentiment in the crypto sector is currently negative, we are not recommending any long position in it.
XRP PRICE GBP – HOW TO TRADE XRP/GBP 16TH FEBRUARY 2021
XRP price GBP rallied above £0.355 on February 10 and that triggered the long trade suggested in the previous analysis. The target objective of this trade at £0.45 was achieved on February 13, a quick 26% profit within four days. The XRP/GBP pair witnessed profit-booking near the overhead resistance at £0.48718 and that pulled the price down to the 20-day EMA. The long tail on the February 15 candlestick suggests that the bulls purchased the dip to the 20-day EMA.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP
the bulls can thrust the XRP price GBP above £0.48718, the pair could rally to £0.58847. Conversely, if the pair turns down from £0.48718, then a few days of range-bound action is possible. The upsloping 20-day EMA and the RSI in the positive territory suggest that bulls are in control. However, as the altcoin has been a huge underperformer during the current bull run, we are not suggesting a trade in it. We will wait for the price to sustain above £0.48718 before recommending a long position.
XRP PRICE GBP – HOW TO TRADE XRP/GBP 9TH FEBRUARY 2021
The XRP Price GBP bulls defended the moving averages on February 2 and pushed the price above £0.27916 on February 3. Since then, XRP has been trading between £0.355 and £0.27916. If the bulls can push and sustain the price above £0.355, the XRP/GBP pair could rally to £0.40 and then to £0.45. Traders could buy if the price breaks and sustains above £0.355 for a few hours. The stop-loss for this trade could be kept just below £0.279.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP
The upsloping 20-day EMA and the RSI above 63 suggest bulls are attempting to make a comeback. Contrary to this assumption, if the XRP Price GBP turns down from £0.355, the price may correct to £0.27916 and stay range-bound between these two levels for a few days. A break and close below £0.27916 could pull the price down to the 50-day SMA.
XRP PRICE GBP – HOW TO TRADE XRP/GBP 2ND FEBRUARY 2021
XRP price GBP Traders who held on to half of their position purchased on our recommendation in an earlier analysis could have made a profit of more than 100% within a short time if they had kept a trailing stop-loss. The move even surprised us but that is how one makes profits in the crypto markets, by taking the trade with a calculated risk and then getting off using a trailing stop-loss.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP
XRP price GBP surged on January 30 and broke above the £0.27916 resistance. The bears attempted to pull the XRP price GBP down on January 31 but the bulls flipped the £0.27916 level to support. The XRP price GBP pair soared to £0.55186 on February 1, but the bears aggressively sold the rally, dragging the price below £0.27916. This shows traders are selling on rallies. The bulls are currently attempting to defend the moving averages and push the price back above £0.27916. After the sharp volatility of the past few days, we expect the pair to trade in a range for a few days before making its next move. We do not find any reliable setups at the current level, hence we are not proposing a trade in it.
JANUARY BLOGS
XRP PRICE GBP – HOW TO TRADE XRP/GBP 26TH JANUARY 2021
XRP price GBP traders who purchased on our recommendation given in the previous analysis are at a marginal loss. They can close half of the position at the current levels and keep the rest with a stop-loss below £0.15. The bulls pushed the price above the 20-day EMA on January 19 but could not sustain the higher level.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP PRICE GBP
XRP price GBP shows traders are selling on every minor rally. The price has been trading below the 20-day EMA for the past few days, which shows a lack of interest among the bulls to buy at these levels. XRP price GBP could now gradually drop to £0.15, which is a critical support to watch out for. If this support breaks down, the XRP/GBP pair could drop to £0.12899. A break below this support could resume the downtrend. The downsloping moving averages and the RSI in the negative zone suggest bears have the upper hand. Contrary to this assumption, if the price turns up from the current levels and rises above the 20-day EMA, the pair could rise to £0.24211 and then to £0.27916.
XRP PRICE GBP – HOW TO TRADE XRP/GBP 19TH JANUARY 2021
XRP price GBP has been on a bumpy ride as of late with another tier-one exchange Kraken to delist XRP. As it has been widely reported a recent lawsuit having been filed by the US Securities and Exchange Commission, against XRP custodian Ripple, it’s CEO Brad Garlinghouse and President Chris Larsen. The SEC claims the sale of XRP amounted to a violation of federal securities law.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP/GBP
Traders hate uncertainty and that is one of the main reasons why XRP has been languishing near its yearly lows when most major cryptocurrencies are trading near their 52-week highs. The XRP/GBP pair had been trading below the 20-day EMA for the past few days but the bears were not able to pull the price down to the £0.15 support. This shows that traders are not aggressively selling near the lows. If the bulls can sustain the price above the 20-day EMA, the pair could rise to £0.30. Traders can consider buying at the current levels with a stop-loss at £0.14. However, as this is a low conviction trade, keep the position size about 50% of usual. If the bulls can push the price above £0.30 and the 50-day SMA, the pair could pick up momentum and rally to £0.45. This positive view will invalidate if the pair turns down from the current levels and plummets below £0.15. Such a move could resume the downtrend, with the next target objective at £0.10.
XRP PRICE GBP – HOW TO TRADE XRP/GBP 12TH JANUARY 2021
When trading Xrp price GBP and any crypto and fiat currency pair, traders must have a thorough understanding of both currencies. One such commonly traded crypto and fiat currencies are the XRP/GBP pair. As the leading and widely traded cryptocurrency, XRP (Ripple) plays a pivotal role in facilitating cross-border transactions. The crypto is traded on many exchanges, but if you don’t have sufficient experience of trading XRP against GBP, then things can go wrong for you. In this article, learn more about XRP Price GBP currency and how to trade the XRP/GBP pair.
WHAT TO UNDERSTAND ABOUT TRADING THIS PAIR
As far as Xrp price GBP trading pair is concerned, it pairs XRP, Ripple’s native token, with UK’s fiat currency Sterling or GBP. XRP happens to be the 3rd largest crypto asset by market cap, whereas GBP is the 4th most traded global fiat currency. But XRP, when viewed in terms of the wider crypto market, is way more volatile in comparison to the GBP. Ripple (XRP) is essentially a platform that runs on blockchain technology and has three main pillars, including a currency, payment settlement, as well as exchange for digital assets. Cryptocurrencies like XRP still record an average price movement of 4-8% daily. On the other hand, major traditional currencies, like the GBP, experience average volatility of around 0.4% daily. Thus, trading the XRP/GBP pair is more related to the swing in the price of the XRP than GBP.
TRADING XRP AND GBP
Like many other leading crypto assets, Ripple offers excellent money-making opportunities. The crypto is traded in over 100 markets as well as financial exchanges worldwide. However, before trading XRP, you must learn more about cryptocurrency. Once you have garnered much information about what impacts the price of XRP, you need to create a trading account on a reputed crypto/fiat exchange to be able to buy and sell XRP and GBP. Also, note that trading crypto with fiat currency is much different when compared to trading fiat currencies. There is a major difference in the volatility of the crypto market, as well as the fiat forex market. Thus, to trade the pair successfully, traders must familiarize themselves with both XRP, as well as the Ripple platform. They also need to assess the factors that impact fiat currencies, specifically GBP. It must be noted that XRP’s volatility dropped significantly during 2018, particularly beyond the 3rd quarter. During early 2018, XRP’s volatility on an average was over two times of Bitcoin, as well as Ether.
XRP/GBP KEY TECHNICAL POINTS
So, if you are looking to open an XRP/GBP trade position, then you must focus on XRP’s price direction while minimal consideration must be given to GBP. Also, one of the main drivers of XRP, aside from the general sentiment about the crypto market, is the token’s volatility. Currently, the blockchain-based platform is gaining much traction and has been adopted by several financial services, as well as banking partners. This implies that when the volatility drops, an increased number of people will begin using XRP, pushing its price up.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP/GBP
The bulls pushed the price above the 20-day EMA on January 7, which was the first indication that the selling may have exhausted. The bulls sustained the price above the 20-day EMA till January 10 but could not launch the next leg of the up-move to £0.20. That attracted profit booking from traders who may have purchased near the lows. The Xrp price GBP pair dipped below the 20-day EMA on January 12 but the long tail on the day’s candlestick suggests buying at lower levels. Today, the bulls are attempting to push the price back above the 20-day EMA. If they succeed, the Xrp price GBP may rise to £0.30. If the Xrp price GBP turns down from this overhead resistance, the pair may remain range-bound for a few more days. The flat moving averages and the RSI just below the midpoint indicates a balance between supply and demand. The longer the time spent in the range, the stronger will be the eventual breakout from it. If the bulls can drive the price above £0.30, it will open up the possibility for a rally to £0.45. On the other hand, a break below £0.15 may resume the downtrend.
HOW TO TRADE XRP/GBP
When trading any crypto and fiat currency pair, traders must have a thorough understanding of both currencies. One such commonly traded crypto and fiat currencies are the XRP/GBP pair. As the leading and widely traded cryptocurrency, XRP (Ripple) plays a pivotal role in facilitating cross-border transactions. The crypto is traded on many exchanges, but if you don’t have sufficient experience of trading XRP against GBP, then things can go wrong for you.
THE IMPORTANCE OF XRP/GBP
As far as XRP/GBP trading pair is concerned, it pairs XRP, Ripple’s native token, with UK’s fiat currency Sterling or GBP. XRP happens to be the 3rd largest crypto asset by market cap, whereas GBP is the 4th most traded global fiat currency. But XRP, when viewed in terms of the wider crypto market, is way more volatile in comparison to the GBP. Ripple (XRP) is essentially a platform that runs on blockchain technology and has three main pillars, including a currency, payment settlement, as well as exchange for digital assets.
Cryptocurrencies like XRP still record an average price movement of 4-8% daily. On the other hand, major traditional currencies, like the GBP, experience average volatility of around 0.4% daily. Thus, trading the XRP/GBP pair is more related to the swing in the price of the XRP than GBP.
TRADING XRP/GBP
Like many other leading crypto assets, Ripple offers excellent money-making opportunities. The crypto is traded in over 100 markets as well as financial exchanges worldwide. However, before trading XRP, you must learn more about cryptocurrency. Once you have garnered much information about what impacts the price of XRP, you need to create a trading account on a reputed crypto/fiat exchange to be able to buy and sell XRP and GBP.
Also, note that trading crypto with fiat currency is much different when compared to trading fiat currencies. There is a major difference in the volatility of the crypto market, as well as the fiat forex market.
Thus, to trade the pair successfully, traders must familiarize themselves with both XRP, as well as the Ripple platform. They also need to assess the factors that impact fiat currencies, specifically GBP. It must be noted that XRP’s volatility dropped significantly during 2018, particularly beyond the 3rd quarter. During early 2018, XRP’s volatility on an average was over two times of Bitcoin, as well as Ether.
CONCLUSION
So, if you are looking to open an XRP/GBP trade position, then you must focus on XRP’s price direction while minimal consideration must be given to GBP. Also, one of the main drivers of XRP, aside from the general sentiment about the crypto market, is the token’s volatility. Currently, the blockchain-based platform is gaining much traction and has been adopted by several financial services, as well as banking partners. This implies that when the volatility drops, an increased number of people will begin using XRP, pushing its price up.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
Earnings Disclaimer: The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.
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