XRP Technical Analysis and Price Forecast(and not its not $589)

Looking at the graph of XRP, it does not make as much sense as other price graphs of cryptocurrencies because of the large increase in price over the last week which breaks the descending pattern of the last 5 months. Unlike many other coins where you could forecast off the peaks and valleys. XRP has basically been on a steady downward decline since April without any real significant peaks or valleys during that time so you cannot plot the lines of high and lows to see if they intersect anywhere. The current upswing in price would make that intersection point actually below the current price. But we know that XRP probably is far more likely to rise by the end of the year than drop so that technical analysis does not really work. Current movements by XRP suggests that it is driven far more by breaking news and reactions to that news that by any kind of technical price graph and since we know that X-rapid will be launched most likely within 30 days, that the SWELL conference is coming up next week, and that at least 7 companies have already signed on to use X-rapid when it launches, it can be said that the chance of another large upward trend is highly likely within the next month or two. Therefore at this point, since its already dipped from 59 cents to 44 cents, XRP looks like a great buy for the short and long term.

* Note I am not a professional financial adviser and this is not professional financial advice. Trade at your own risk as I am not responsible for your gains or losses.

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