So far this month, Ripple has not been performing well at all. It is trading at approximately $0.6893, but could fall to as low as $0.5620.
The next couple of days are set to be crucial for Ripple, and if the price manages to stay the same price over these days, they may have a chance to grow. When you look at why the price has dropped, there are some interesting indicators.
The MACD is in the negatives; and whilst the sell signal is here to stay, it does not actually get any stronger. The Stochastic is trying to move away from negative territory, so there is hope that this signals some local buys that might occur soon.
The price is very affected by those who are investing in startup companies that use Ripple. It is fundamentally a legal way to raise the demand for Ripple.
If the demand grows, the company will get a good reason to rely on developer support. Just like a lot of other cryptocurrencies, Ripple suffered negatively after Google banned cryptocurrency and ICO ads. Read more from cryptodaily.co.uk…
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