Following the 2019 opening, Ripple’s XRP has remained one of the top cryptocurrency projects displaying a low performance despite the first half of the year’s bull market. In fact, the price of XRP has remained in a perpetual bearish mode since late 2018.
Up until now, the market is trading below the $0.30 after falling sharply below the yearly low in mid-August. This shows that a short position is still opened, but the future might come with an unexpected bullish move.
However, the XRP community might be losing hope due to the price depreciation over the past months. But considering the Ripple’s use case – RippleOne, the future is bright for XRP holders as massive adoption of the prospect is more likely to boost up the value of the digital currency significantly.
#XRPhodlers, $xrp is about to get you #rekt if you are shorting it. #XRPBTC Bullish Divergence and technically, it means you should close shorts, go long on #xrp. #xrpcommmunity #XRPUSD pic.twitter.com/akrKR3tpZv
— JOKER (@KiaCrypto) September 11, 2019
As revealed today by JOKER, a twitter crypto analyst and predictor, saying: XRP is about to get holders rekt if they keep shorting as a bullish divergence plays out against Bitcoin pair. The analyst stated that short position should be closed for now as traders should open a long position on the cryptocurrency.
Technically, the bullish divergence is a healthy reversal pattern and a most reliable signal for a change in trend. The signal is common with the RSI (relative strength index) and the MACD (moving average convergence and divergence) indicators.
Following the reactions to this tweet, it appeared that holders are still very optimistic on Ripple’s XRP despite the current value of the cryptocurrency to avoid FOMO – Fear of Missing Out. Although some analysts still believe that the price will drop a bit before fueling a bull-run.
In our own opinion, Ripple (XRP) is more likely to catch enthusiasts unaware when it goes bullish, although a bullish divergence signal is playing out against the Bitcoin market on the daily chart.
Considering the current Ripple’s statistic on the market cap, the value of XRP may appreciate if the trading volume can remain above $1 billion. But if the market continues to fall below August low, traders may continue to go short because of FUD – Fear Uncertainty and Doubt.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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