{"id":411887,"date":"2020-01-22T02:00:30","date_gmt":"2020-01-22T02:00:30","guid":{"rendered":"https:\/\/ktsl888.com\/?p=411887"},"modified":"2020-01-22T02:29:10","modified_gmt":"2020-01-22T02:29:10","slug":"why-analysts-are-worried-about-ripples-xrp-despite-35-rally-from-0-173","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ripple\/why-analysts-are-worried-about-ripples-xrp-despite-35-rally-from-0-173\/","title":{"rendered":"This Reason Is Why Analysts are Worried About Ripple’s XRP Despite 35% Rally"},"content":{"rendered":"

Much like many other crypto assets, XRP has been on a tear over the past month. Below is a chart from TradingView<\/a> which shows that the cryptocurrency, third-largest by market capitalization, has gained 36% against the U.S. dollar since bottoming at $0.173 in the middle of December.<\/p>\n

In spite of this surge, which some say has brought XRP and other cryptocurrencies out of the mini-bear markets started in June 2019, a leading analyst has argued that it is difficult for him to be bearish on the coin.<\/p>\n

Related Reading: Here\u2019s Why Wall Street Veteran Thinks Bitcoin Isn\u2019t a Viable Money, Yet<\/a><\/h6>\n
XRP Still Under Key Resistance On Macro Basis<\/strong><\/h2>\nPopular cryptocurrency trader CryptoDude, who has done well trading the recent price action with Bitcoin, Ethereum, and others as evidenced in his Twitter feed<\/a>, recently said<\/a> on Twitter that it is “difficult for me to be bullish on Ripple right now.”<\/p>\n
Backing his assertion, he looked to a chart of XRP against the U.S. dollar on a monthly basis. The trader depicted that despite the recent 35% surge off local bottoms, prices not seen in years, the cryptocurrency remains decisively below a key resistance that has been absolutely essential for the asset’s past two to three years of price history.<\/p>\n
What’s more, it was actually rejected at the resistance level, suggesting the macro bear trend for XRP remains intact.<\/p>\n
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$XRP<\/a> Difficult for me to be bullish on Ripple right now. pic.twitter.com\/pXmfZbOtyp<\/a><\/p>\n
— the dude (@cryptodude999) January 21, 2020<\/a><\/p><\/blockquote>\n