18 Jun 2018
It seems the price of Ripple is on the verge of another breakout. What are the indicators currently showing? A detailed technical picture is painted in the following 18 June Ripple Price Forecast.
18 June, GKFX – Ripple price is backed to a tight corner below $0.52 but weakly supported above $0.51. Over the weekend the crypto utilized the support created at $0.50 to retrace marginally above $0.56.
However, XRP/USD has been trading lower highs and lower lows towards the narrowing end of a contracting triangle pattern.
Ripple is more than just a digital asset, it is a company that is striving to revolutionize the way global payments are done. The payment solutions from Ripple; xRapid and xCurrent are constantly being updated to achieve fast transaction at minimal costs. Ripple says that global payments amount to $600 billion per annum, while $30 billion of these go straight to transaction costs.
The World Bank, on the other hand, records that the majority of these payments are small and average around $500. While piloting xRapid as a global payment solution, Ripple has found that it can save individual across the world $16.5 billion which in turn could mean that $3.17 billion saved for food and $263.07 million could be saved in terms of bills. This also factors in rent for at least 49.9 million individuals at an average cost of $273.34 per month.
Ripple price is currently battling to break above $0.52 while the buyers have their eyes locked at $0.53 (moving averages). Indicators are showing short-term bullish signals, for example, the MACD is pointing upwards from, but still in the negative area while the moving averages gap is reducing.
The region at $0.54 could open the door for Ripple to recoil towards the critical resistance at $0.58. On the downside, $0.50 will continue supporting the price in case another trend reversal occurs.
XRP/USD 15’ chart
This article 18 June Ripple Price Forecast was provided by GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.
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