FORT LAUDERDALE, Florida – You might ask, “Is it a good time to buy XRP coins now?” There are several answers to that question, especially since Ripple is making headlines now with its never-ending battle with the SEC. Let us look at some facts that might help you decide how to trade these coins.
Ripple has been moving back and forth in its highs and lows. While no one can tell how the crypto market will behave because of its high volatility, some factors in play make Ripple vulnerable even more. For one, its battle with the SEC continues to affect its performance. But in terms of that aspect, many people are rooting for the success of Ripple in winning the lawsuit. However, more and more delays on either party’s side would prolong what resolution should be given.
Another obvious fact is the red candlesticks all over the place. Looking at Ripple’s performance, you will see more and more red sticks sticking out, which signals a downward trend. Before, it used to bounce back after hitting the critical $0.65 support level, but now, the support levels are going lower and lower. Some experts are preparing for the support level to reach as low as $0.50 but are hopeful that Ripple will overcome the $0.70 resistance level to gain a bullish trend.
You might see these instances as opportunities if you are a short-term player or trader. If you have been in the crypto game for quite some time now, you might want to look at it as a window to buy more and hold on to it until the bulls pull up the trend. In a nutshell, it is dependent on how you play in the market. As far as the technical analyses go, XRP might have more swings towards the highs and lows in the crypto market.