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Ripple Technical Analysis 03.06.2019

Ripple price as of early 2019 followed by the bitcoin price has risen. As in his earlier moves during this ascension process, Bitcoin was able to break the band up on June 2, 2019, following the breaking of the upper band of the 200-day Bolinger Band on May 11, 2019 at daily prices.

Instead of a similar action to Bitcoin and Ethereum, Ripple, which is connected to them but has a different activity, needs to be closely followed up.

It can be said that the price may remain on the Bollinger Band. In the previous movements, it was observed that the movement continued in this way for nearly 20 days.

However, for the continuity of such a movement, crypto values such as Bitcoin and Ethereum should continue to increase with high volumes.

Clearly, the opening of the wallet with 1 billion units of Ripple in the past weeks may cause the price upward movement to slow down.

At this point the price must turn into the Bollinger Band. In previous Ripple movements, similar to Bitcoin movements, it has been observed that the price within the band is within 30-40 days. For the return to the band, there will be a regression in price, either with the horizontal movement and after a while the price will re-enter the band.

The first possibility is that there is a correction in the price of Ripple, if the price enters the Bollinger Band, the price should be taken to the band of $ 0.40-0.35.

The second possibility is that the price of Ripple moves in a narrow band, and if the price enters the Bollinger Band, the price must move within a range of $ 0.40 – 0.50. In this case, it can be said that the next 40-60 days may be a movement. Obviously, the start of the movement makes this possibility more possible.

But like all altcoins, the price of bitcoin in Ripple is very important. If there is a correction in bitcoin price, it is obvious that Ripple will follow this correction. However, if a horizontal band moves in Bitcoin, Ripple will move as well. For this reason, it is useful to monitor the price of the crypto-values and the general market movement, especially Bitcoin.

The information, comments and evaluations contained herein are NOT within the scope of Investment Consultancy . (Date of analysis: 03/06/2019)