Ripple got a lot of traders jumping in on the train to $3 again, but unfortunately those that didn’t get out in time got rekt pretty hard. Good lesson for any newcomers about the volatility in the crypto markets.
We can see some decent support from the $2 zone and traders could catch another knife into the lower $2 zone if the price does not consolidate above $2.5.
A lot of news and hype around Ripple at the moment and there is always money to be made in volatile markets.
Should support break below $2 I would expect this bear trend to continue into the medium term, but as it stands now I think XRP is busy with a much needed correction.
Just a note that I advise clients to only trade XRP vs FIAT, simply because I believe that Ripple has the ability to print more if they so choose. No point risking crypto against xrp, just my two cents.
Serious resistance at $3, lets wait and see if the bulls can get close to it again. Safe trades.