Don't forget the Ripple

As blood has been flowing in the crypto market for the last few days, it seemed opportune to talk about the Ripple again.

After a surrealist outbreak at the end of 2017, the Ripple deflated rapidly to reach a level close to 0.000084350 BTC ($0.73) in recent days.

The Ripple was originally designed as an interbank payment system to facilitate exchanges between banks and to transfer funds in real time at a lower cost.

For this reason, the Ripple was created as a low value currency, not exceeding $4-5 per unit for daily use by banks. For this reason, in the long term, we remain cautious and do not imagine that the Ripple reaches a high value, which would be counterproductive compared to the initial use for which it was predestined.

Nevertheless, it has a strong medium-term potential, reinforced by the numerous partnerships created with banking institutions.

In a complicated climate, the Ripple against Bitcoin seems to have a card to play.

Indeed, since February 22nd, there has been a bullish divergence on the MACD and an RSI that has not reached new lows.

After breaking the resistance of its wide triangle, bouncing back on its support resistance, the Ripple seems to stagnate around 0.0000841 Ripple/Bitcoin, a support zone identified since the end of December and tested many times.

Currently stuck inside a small triangle chartist, it could break upwards IF the MACD meets its signal line and IF the RSI remains above 40.

Ideally, an upward break in the moving average 50 (in black) would be ideal. If the movement is too abrupt (which seems unlikely given the reduced volumes), we can wait for a pull back on the moving average 50 to position ourselves.

The Ripple appears to have long-term potential (although limited to $4-5) and may show signs of recovery against Bitcoin in the coming weeks.

However, for the moment no position should be taken until the above conditions are met.

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