XRP price GBP soared above £0.48718 and £0.58847 on April 5 with a 41.54% rally for the day. Traders who had bought GBP XRP on our earlier recommendation have made huge gains within the past few days.

The bears tried to pull the price below £0.58847 today but the long wick on the day’s candlestick suggests that the sentiment has turned bullish and traders are buying the dips

Bitcoin Price GBP_Main

XRP TO GBP

XRP PRICE GBP – HOW TO TRADE XRP/GBP 6TH APRIL 2021 - UPDATED CONTENT

 

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE xrp to gbp chart

If the bulls can drive the XRP price GBP above £0.68, the XRP/GBP pair could rally to the next target objective at £0.824.

However, traders should not get greedy. They must trail their stops to protect their paper profits because if the XRP price GBP breaks below £0.588, the correction could deepen to £0.48718.

A break below this support will suggest that traders dumped their positions at higher levels and that could keep the pair range-bound for a few more days.

 

XRP PRICE GBP – HOW TO TRADE XRP/GBP 30TH MARCH 2021

 

XRP price GBP plunged on March 24 and broke below the moving averages. However, the positive sign was that the bulls did not allow the price to sustain the lower levels. They quickly bought the dip and pushed the price back above the moving averages on March 25.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

The XRP bulls will now try to drive the XRP GBP price above the minor resistance at £0.43561. If they succeed, the GBP XRP pair could rally to £0.48718. This level may act as a stiff resistance, hence traders may book partial profits near this level.

We are not suggesting to book profits on the entire position because if the bulls can thrust the price above £0.48718, the pair could pick up momentum. The upsloping moving averages and the RSI in the positive territory indicate advantage to the bulls.

This positive view will invalidate if the bears sink and sustain the price below £0.35. For now, traders can keep their stop-loss at £0.30. The stops may be trailed higher after the bulls push the price above £0.43561.

 

XRP PRICE GBP – HOW TO TRADE XRP/GBP 23RD MARCH 2021

 

Xrp price GBP broke above the £0.355 overhead resistance on March 20, triggering the buy recommendation given in an earlier analysis. Both moving averages are sloping up and the RSI has risen close to the overbought territory, suggesting that the bears are attempting to make a comeback.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

However, the long wick on March 22 and today’s candlestick suggests bears are selling on rallies. This could pull the price down to the breakout level at £0.355. If the price rebounds off this support, the bulls will again try to resume the up-move.

The first target objective on the upside is £0.48718 and then £0.58847. Traders may trail their stop-loss to £0.30 and raise the stops further after a successful retest of £0.355. Partial profits could be booked at £0.48718 and the rest of the positions can be trailed with a suitable stop-loss.

 

XRP PRICE GBP – HOW TO TRADE XRP/GBP 16TH MARCH 2021

 

The XRP price GBP turned down from the overhead resistance on March 10 and slipped below the 20-day EMA. The selling continued and dragged the price below the 50-day SMA on March 12. This suggests bears are aggressively defending the higher levels.

The price could now remain range-bound between £0.27916 to £0.355 for a few more days. The flat moving averages and the RSI near the midpoint also point to a possible consolidation.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

However, if the bulls can drive the price above £0.355, the XRP/GBP pair is likely to pick up momentum and start its journey towards £0.48718. Therefore, we retain the buy trade proposed in the previous analysis.

This bullish view will invalidate if the pair turns down from the current levels or the overhead resistance and breaks below the £0.27916 support. Such a move could start a downtrend that may reach £0.15.

 

XRP PRICE GBP – HOW TO TRADE XRP/GBP 9TH MARCH 2021

 

Xrp price has been trading near the £0.355 overhead resistance for the past few days. When the price trades in a tight range near a resistance, the possibility of a break above it increases.

If the bulls can push and sustain the Xrp price GBP above £0.355, the XRP/GBP pair could rally to £0.40 and then to £0.48718.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

On the contrary, if the Xrp price turns down from the current level and dips below the moving averages, it may extend its stay inside the £0.27916 to £0.355 range for a few more days.

The flat moving averages and the RSI just above the midpoint also suggest a balance between supply and demand.

However, in a bull phase, there comes a period when most under-performers start to move up. To capitalise on any such opportunity, traders may buy if the Xrp price GBP sustains above £0.355 for a few hours. The initial stop-loss may be kept at £0.25, which can be trailed higher as the price moves northward.

 

XRP PRICE GBP – HOW TO TRADE XRP/GBP 2ND MARCH 2021

 

XRP price dropped to £0.252, just below the £0.27916 support as suggested in our previous analysis.  The price has since then been trading between both the moving averages that have flattened out. The RSI just below the 50 level also does not suggest an advantage either to the bulls or the bears.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

This could keep the XRP price range-bound between £0.27916 and £0.355 for a few more days. A breakout of this range could open the doors for a rally to £0.48718 while a break and close below £0.25 could start a deeper correction.

The altcoin has been a huge underperformer during the current bull run, therefore, we are not suggesting a long position at the current levels. However, during a bull phase, almost all coins go through their own bull trends.

Therefore, if the XRP price GBP sustains above £0.3550 for a few hours, traders may consider initiating long positions with an initial stop-loss below £0.25. The stops may be trailed higher as the price moves northward.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 23RD FEBRUARY 2021

 

XRP price GBP continues to be range-bound between £0.3550 and £0.48718. The altcoin outperformed and rallied on February 22 when most major altcoins were deep in the red.

However, the bulls could not push the price above the overhead resistance at £0.48718 and that attracted profit-booking from short-term traders. By the end of the day, the XRP price GBP had given up a large part of its gains.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

Today, the bears are trying to sink the XRP price GBP below £0.3550. If they manage to do that, the XRP price GBP could drop to the next support at £0.27916.

On the other hand, if the bulls defend the £0.3550 support, the pair could extend its stay inside the range for a few more days. A breakout of £0.48718 will signal an advantage to the bulls and that may result in a rally to £0.58847.

However, as the sentiment in the crypto sector is currently negative, we are not recommending any long position in it.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 16TH FEBRUARY 2021

 

XRP price GBP rallied above £0.355 on February 10 and that triggered the long trade suggested in the previous analysis. The target objective of this trade at £0.45 was achieved on February 13, a quick 26% profit within four days. The XRP/GBP pair witnessed profit-booking near the overhead resistance at £0.48718 and that pulled the price down to the 20-day EMA. The long tail on the February 15 candlestick suggests that the bulls purchased the dip to the 20-day EMA.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

If the bulls can thrust the XRP price GBP above £0.48718, the pair could rally to £0.58847. Conversely, if the pair turns down from £0.48718, then a few days of range-bound action is possible.

The upsloping 20-day EMA and the RSI in the positive territory suggest that bulls are in control. However, as the altcoin has been a huge underperformer during the current bull run, we are not suggesting a trade in it.

We will wait for the price to sustain above £0.48718 before recommending a long position.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 9TH FEBRUARY 2021

The XRP Price GBP bulls defended the moving averages on February 2 and pushed the price above £0.27916 on February 3. Since then, XRP has been trading between £0.355 and £0.27916. If the bulls can push and sustain the price above £0.355, the XRP/GBP pair could rally to £0.40 and then to £0.45. Traders could buy if the price breaks and sustains above £0.355 for a few hours. The stop-loss for this trade could be kept just below £0.279.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

The upsloping 20-day EMA and the RSI above 63 suggest bulls are attempting to make a comeback.

Contrary to this assumption, if the XRP Price GBP turns down from £0.355, the price may correct to £0.27916 and stay range-bound between these two levels for a few days. A break and close below £0.27916 could pull the price down to the 50-day SMA.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 2ND FEBRUARY 2021

XRP price GBP Traders who held on to half of their position purchased on our recommendation in an earlier analysis could have made a profit of more than 100% within a short time if they had kept a trailing stop-loss. The move even surprised us but that is how one makes profits in the crypto markets, by taking the trade with a calculated risk and then getting off using a trailing stop-loss.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

XRP price GBP surged on January 30 and broke above the £0.27916 resistance. The bears attempted to pull the XRP price GBP down on January 31 but the bulls flipped the £0.27916 level to support.

The XRP price GBP pair soared to £0.55186 on February 1, but the bears aggressively sold the rally, dragging the price below £0.27916. This shows traders are selling on rallies.

The bulls are currently attempting to defend the moving averages and push the price back above £0.27916. After the sharp volatility of the past few days, we expect the pair to trade in a range for a few days before making its next move.

We do not find any reliable setups at the current level, hence we are not proposing a trade in it.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 26TH JANUARY 2021

XRP price GBP traders who purchased on our recommendation given in the previous analysis are at a marginal loss. They can close half of the position at the current levels and keep the rest with a stop-loss below £0.15.

The bulls pushed the price above the 20-day EMA on January 19 but could not sustain the higher level.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP price GBP

XRP price GBP shows traders are selling on every minor rally. The price has been trading below the 20-day EMA for the past few days, which shows a lack of interest among the bulls to buy at these levels.

XRP price GBP could now gradually drop to £0.15, which is a critical support to watch out for. If this support breaks down, the XRP/GBP pair could drop to £0.12899. A break below this support could resume the downtrend.

The downsloping moving averages and the RSI in the negative zone suggest bears have the upper hand.

Contrary to this assumption, if the price turns up from the current levels and rises above the 20-day EMA, the pair could rise to £0.24211 and then to £0.27916.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 19TH JANUARY 2021

XRP price GBP has been on a bumpy ride as of late with another tier-one exchange Kraken to delist XRP.

As it has been widely reported a recent lawsuit having been filed by the US Securities and Exchange Commission, against XRP custodian Ripple, it’s CEO Brad Garlinghouse and President Chris Larsen.

The SEC claims the sale of XRP amounted to a violation of federal securities law.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP/GBP

Traders hate uncertainty and that is one of the main reasons why XRP has been languishing near its yearly lows when most major cryptocurrencies are trading near their 52-week highs.

The XRP/GBP pair had been trading below the 20-day EMA for the past few days but the bears were not able to pull the price down to the £0.15 support. This shows that traders are not aggressively selling near the lows.

If the bulls can sustain the price above the 20-day EMA, the pair could rise to £0.30. Traders can consider buying at the current levels with a stop-loss at £0.14. However, as this is a low conviction trade, keep the position size about 50% of usual.

If the bulls can push the price above £0.30 and the 50-day SMA, the pair could pick up momentum and rally to £0.45.

This positive view will invalidate if the pair turns down from the current levels and plummets below £0.15. Such a move could resume the downtrend, with the next target objective at £0.10.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 12TH JANUARY 2021

When trading Xrp price GBP and any crypto and fiat currency pair, traders must have a thorough understanding of both currencies. One such commonly traded crypto and fiat currencies are the XRP/GBP pair.

As the leading and widely traded cryptocurrency, XRP (Ripple) plays a pivotal role in facilitating cross-border transactions. The crypto is traded on many exchanges, but if you don’t have sufficient experience of trading XRP against GBP, then things can go wrong for you.

In this article, learn more about XRP Price GBP currency and how to trade the XRP/GBP pair.

what to understand about trading this pair

As far as Xrp price GBP trading pair is concerned, it pairs XRP, Ripple’s native token, with UK’s fiat currency Sterling or GBP. XRP happens to be the 3rd largest crypto asset by market cap, whereas GBP is the 4th most traded global fiat currency. But XRP, when viewed in terms of the wider crypto market, is way more volatile in comparison to the GBP. Ripple (XRP) is essentially a platform that runs on blockchain technology and has three main pillars, including a currency, payment settlement, as well as exchange for digital assets.

Cryptocurrencies like XRP still record an average price movement of 4-8% daily. On the other hand, major traditional currencies, like the GBP, experience average volatility of around 0.4% daily. Thus, trading the XRP/GBP pair is more related to the swing in the price of the XRP than GBP.

Trading xrp and GBP

Like many other leading crypto assets, Ripple offers excellent money-making opportunities. The crypto is traded in over 100 markets as well as financial exchanges worldwide. However, before trading XRP, you must learn more about cryptocurrency. Once you have garnered much information about what impacts the price of XRP, you need to create a trading account on a reputed crypto/fiat exchange to be able to buy and sell XRP and GBP.

Also, note that trading crypto with fiat currency is much different when compared to trading fiat currencies. There is a major difference in the volatility of the crypto market, as well as the fiat forex market.

Thus, to trade the pair successfully, traders must familiarize themselves with both XRP, as well as the Ripple platform. They also need to assess the factors that impact fiat currencies, specifically GBP. It must be noted that XRP’s volatility dropped significantly during 2018, particularly beyond the 3rd quarter. During early 2018, XRP’s volatility on an average was over two times of Bitcoin, as well as Ether.

Xrp/GBP key technical points

So, if you are looking to open an XRP/GBP trade position, then you must focus on XRP’s price direction while minimal consideration must be given to GBP. Also, one of the main drivers of XRP, aside from the general sentiment about the crypto market, is the token’s volatility. Currently, the blockchain-based platform is gaining much traction and has been adopted by several financial services, as well as banking partners. This implies that when the volatility drops, an increased number of people will begin using XRP, pushing its price up.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP/GBP

Xrp price GBP_Chart

The bulls pushed the price above the 20-day EMA on January 7, which was the first indication that the selling may have exhausted. The bulls sustained the price above the 20-day EMA till January 10 but could not launch the next leg of the up-move to £0.20.

That attracted profit booking from traders who may have purchased near the lows. The Xrp price GBP pair dipped below the 20-day EMA on January 12 but the long tail on the day’s candlestick suggests buying at lower levels.

Today, the bulls are attempting to push the price back above the 20-day EMA. If they succeed, the Xrp price GBP may rise to £0.30. If the Xrp price GBP turns down from this overhead resistance, the pair may remain range-bound for a few more days.

The flat moving averages and the RSI just below the midpoint indicates a balance between supply and demand. The longer the time spent in the range, the stronger will be the eventual breakout from it.

If the bulls can drive the price above £0.30, it will open up the possibility for a rally to £0.45. On the other hand, a break below £0.15 may resume the downtrend.

Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.

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