Don't trade Ripple this July without first checking out our monthly forecasts:
, the ability of XRP/USD to be trading near 35 cents as June gets ready to conclude may be a small victory.However, traders within XRP/USD who are pursuing speculative positions may remain skeptical about Ripple’s value as July gets ready to start.
XRP/USD can be viewed as having traded in a consolidated manner during the month of June, but in a percentage ratio, given the fact that Ripple trades in cents – large changes of value do take place. If the 33 cents juncture were to falter this could set off another storm of selling and targeted anticipation that the 32 and 31 cents marks will start to be flirted upon. Should XRP/USD react to a new storm of selling in the broad cryptocurrency market, there is reason to suspect the 29 cents level could be tested again.
. From a technical long term chart perspective if the January 2021 prices of 27 cents came into focus this could set off a firestorm of pressure in XRP/USD. Any sustained move below 27 cents could trigger further selling and a potential move to marks seen in October and November of 2020, when XRP/USD traded near 24 cents. Traders should keep their ambitions realistic when pursuing their positions and be willing to cash out profitable wagers if they are produced.
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