XRP is Expected to Rise

Good news for investors, XRP is declining consistently since the last 24 hours and it is expected to rise by Monday. The bearish trend that has been going on since the past hours might be due to different reasons. Some say that XRP was overbought and is now being sold by investors to gain a profit.

(Source: Pixabay - Free for Commercial Use) 

The XRP, also known as Ripple Coin is a famous cryptocurrency gaining popularity with the passage of time. This crypto coin is not very worthy at this point in time but it is expected to gain value in the coming years. The XRP/USD shows a bearish trend as of now but this trend is expected to turn bullish in 48 hours.

The XRP/USD closed at 0.44054 according to the data that I've collected from different forex trading platforms including OctaFx but the current XRP graph shows that its value has further declined to 0.43505 (6th February, 1:29 GMT). The current ongoing trend predicts a further fall in the XRP value, maybe close to 0.42000 which has been the case on most days of the past week. This will be followed by a sudden rise on Monday.

$ads={1}

The increase in XRP value is expected to touch $1 in the coming week which is awesome if you're willing to invest some lots in this currency. I have been collecting data from different websites and apps that predict future signals for Forex trading and what I've found out is that the equation is a little tricky.

Even though it seems like there will be a bullish XRP trend in the coming week, buying it in huge amounts right now would be very risky especially if you're a small trader with limited investments. The trend has to rise but it can decline close to 0.39000 before that which means that if you invest 1 lot right now, before earning a profit you will have to go through a $149 loss which is huge for small scale investors.

$ads={2}

But looking at the bright side, if you survive during this loss, you might end up gaining a profit of around $12-$15 given that the take profit price is set to 0.45000 and XRP appreciates to this point by Monday.

Investing in Forex can be a tricky job. You can win everything or lose everything on a given day, there's nothing in between. To successfully trade on Forex you need to analyse market trends and you must follow the news every single day before beginning and ending the trade.

Let's wait and see where XRP takes us on Monday. Till then, keep visiting my website for more updates and don't forget to leave your analysis in the comments section below!

Views
Previous Post Next Post