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XRP recovering nicely

XRP took a dive like the whole of the crypto market recently.

But it is recovering nicely and the dip was only temporary, it is one of the best recovering cryptos.

In my account it is now safely back in the green after only buying some recently and watching the red candlesticks.
xrp 20 4 21

But I see XRP as a solid investment with a sound footing in the crypto market, which is reflected in its price recovery and relatively low dip compared to other cryptos.

The daily chart shows that the Ripple price has been on a downward trend lately. It has fallen in the past six straight days.

The price has also moved below the 38.2% Fibonacci retracement level. Further, the price is being supported by the 25-day and 15-day moving averages.

Therefore, I suspect that the price will continue rising as bulls attempt to move above the YTD high.

Also see: What are altcoins about? 

I intend to keep my investment and increase my buys in the near future.

If you are new to the Cryptocurrency world and would like to open an account we recommend Cex.io.

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by techbull.co.uk. Readers should do their own research before investing funds.

Image by Miloslav Hamřík from Pixabay

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