0
📈 Price Predictions
273 views

Coinbase Expands, Ripple Listing Speculation Increases

  • Thomas Hughes
    📈 Price Predictions

    Some have speculated that the last announcement will be the listing of Ripple (XRP), a fact which would probably give a big boost to XRP’s price


Coinbase Expands, Ripple Listing Speculation Increases

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

As part of their “12 Days of Coinbase” project, which involves making a new announcement every day between Dec. 10 and Dec. 21, Coinbase just announced they plan to expand to 6 SEPA countries: Andorra, Guernsey, Gibraltar, Lithuania, Iceland and Isle of Man.

The announcement came on Dec. 20, which leaves only one more day until the end of their project. Some have speculated that the last announcement will be the listing of Ripple (XRP), a fact which would probably give a big boost to XRP’s price because, in the past, even rumours about such a listing were received with a bump in price.

Chart Analysis – XRP/USD

image

After attempting several times to break the major hurdle at 0.40, XRP/USD seems to take a sideways path, with long wick candles and no advances for the last 24 hours (-3.16% change). However, the pair has gained more than 25% over the last 7 days, so a retracement is normal and even healthy after a long climb.

Currently trading at 0.38 against the US Dollar, XRP is likely to move above 0.40, especially if it can maintain above 0.33 – 0.35 support zone. Support will also be provided by the 20 and 50 periods Exponential Moving Averages and although for now buying pressure has diminished, the outlook remains bullish.

Support zone: 0.33 – 0.35 as well as the 2 EMAs

Resistance zone: 0.40 – 0.41

Most likely scenario: break of 0.40 (this doesn’t exclude a longer period of sideways, choppy movement)

Alternate scenario: break below 0.33 – 0.35

Cover image via u.today
In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Thomas Hughes is an executive editor of U.Today. He is a skilled cryptocurrency trader and technical analyst deeply immersed into the cryptocurrency & blockchain technology area.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings