XRP Growth: Ripple is Clearly Concerned About Its FateOct 4, 2019
Last week, we talked about the launch of Ripple’s operations in Iceland, where it bought a crypto trading firm Algrim. This development served to give strong support to XRP. Now CZ reports that BinanceChain and BinanceDEX traders and investors are able to trade XRP with high liquidity.
In spite of this moderately positive news for XRP, the buyers activity remains low, which may also be due to the general uncertainty in the marketplace.
Nevertheless, the technical indicators RSI and Stochastic point towards the buyers’ interest. Because of that, the breach of the technical level of resistance of 0.2600 will allow to expect the upswing towards the important technical level of resistance of 0.2900. This level has been formed back in December 2018 and has held as the main support of D1 for quite some time. It is important to note that this level of resistance is where the trend line drawn at max D1 marks is located, giving this trend a boost.
Last time we put an emphasis on the 0.25 mark, but, as we can see, it has been breached, although the price didn’t go too far down. The bullish scenario remains the most likely.