By Dmitriy Gurkovskiy, Chief Analyst at RoboForex
On Friday, February 14th, the XRP is correcting after the previous robust growth, generally trading at $0.3160.
On H4, the growth has sped up for a short while by breaking out the resistance line and reaching the projection resistance line. It should be especially noted that the ascending dynamics have corrected the previous downtrend at 50.0% Fibo. Presently, there is a divergence forming on the MACD which means a pullback is coming. The aim of the pullback may be 38.2% ($0.3010). After the pullback, the next impulse of growth will be aimed at 61.8% ($0.3795).
On H1, there is a correctional movement after a local impulse of growth. The correction has been forecast by a divergence and a Black Cross on the Stochastic. The initial impulse of decline has reached 38.2%, then the decline will aim at 50.0% ($0.3033), 61.8% ($0.2947), and 76.0% ($0.2845) Fibo.
Ripple keeps developing according to its strategy, promoting its technology in the world of real money. There is information that the National bank of Egypt has signed an agreement of partnership with Ripple. It is said that the regulator plans to use Ripple tech solutions to enhance the speed of transborder payments and decrease the expenses they entail along with the commission fee.
Earlier, Ripple announced its partnership with International Money Express, an international payment system with the main interest in Latin America. This is an important partnership for Ripple because its technology will experience increased demand — other interested parties may join in.
Over the last few days, the XRP trade volume has grown by almost 60%, now amounting to $3.35 billion.
XRP fans consider the cryptocurrency to have a potential for growth no less than 30%.
Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.
The post XRP Price Analysis for February, 14th – XRP Needs Correction appeared first on The Merkle Hash.
Source: The Merkle
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