Ripple markets continue to hover around the $0.90 region, with obvious resistance above at the $1.00 level. It’s not until we break above that level, and more importantly pick up some volume that this market can go anywhere. Between now and then, if the volume continues to look very soft, it’s likely that the Ripple markets will drift towards the $0.75 level, and then possibly even as low as $0.50.
The crypto currency markets in general look like they are running out of steam again, and it’s likely that we will see a bit of a roll over. If Bitcoin roles over, Ripple will almost certainly do the same, as Bitcoin tends to drive where the others go. I believe that if we can break above the $1.20 level, then Ripple will have a chance at rallying longer term. Until then, I think we’re going to see a lot of noisy and limp trading.
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