- “Trade of the year” For XRP – Galaxy
- Positive Price Trend Before and After Swell
The crypto community is solidly behind XRP, as they await the next major price trend. Famous cryptocurrency trader, Galaxy has continued to push his statement that XRP will surge ahead of Ripple’s annual event, which is known as Swell. He tweeted, “The trade of the year is coming once again on $XRP. Long 2 weeks before Swell, and short when the event is over. Price increase before event (USD) +115% (2017) +220% (2018). Price decrease after event (USD) -43% (2017) -51% (2018). Time to see what this year brings.”
Of recent, XRP has been consolidating, trading near a close trading range in the-to-upper $0.20 region. It is noteworthy that some crypto analysts still believe that XRP’s bears are in charge, in spite of the several bullish efforts to break out of its trading range over the past week. Also, the historical catalyst for major gains is fast approaching, which could signify that XRP will soon experience a massive surge before declining back to its recent lows.
Positive Price Trend Before and After Swell
XRP is trading about 2% at its current price of $0.28, which indicates a significant surge from its recent lows of $0.23 that were established in the past few weeks. It is worthy of note that XRP is trading just a % above its 2018 lows, and unlike most major altcoins, it has been unable to account any gains all through the first half of 2019.
Big Cheds, another popular crypto analyst on twitter stated that XRP’s failure to account for a higher low and to break above its downtrend resistance level could mean danger for how the coin will trade in the future. He tweeted, “$XRP (USD) #Ripple – approaching short term downtrend line resistance on daily chart, however still unable to establish a higher low.”
The trade of the year event is coming up on XRP, The long 2 weeks before the Swell and the short after the conclusion of the event.
XRP (XRP) Price Today – XRP / USD
# Name Price 24H % 3 $0.207
The previous price movement of XRP before and after the Swell. In 2017, the price increased before the event with +115%, while in 2018, it surged with +220%. The decreased after the event with -43% in 2017, while in 2018, it declined with -51%
Galaxy forecast that XRP could encounter growth after breaking out of its bullish MACD crossover on its weekly chart. Currently, XRP is trading at $0.2777 after a 1.68% uptick over the last 24 hours.