First, Let's Recap The Key Points About Ripple
Ripple is a currency exchange and remittance network. It focuses on the banking market and aims to provide secure, instant, and nearly free global financial transactions. It is the third largest cryptocurrency after Bitcoin and Ethereum, and it supports the direct exchange of dollars, Euros, Rupees, RMB, Yen, gold and airline miles. In addition, Ripple has engaged in the Bitcoin bridge which allows users to deposit the currency in Bitcoin wallets.
Basics of Trading Ripple
For beginner traders, it is very important to recognize three different price bands when analyzing graphs. These price ranges are based on the concept of Margin of Safety, which is widely used to identify optimal buying opportunities. For the purpose of this analysis, we will divide Ripple's price graph into green (A), yellow (B), and red bands (C).
The green band represents the price range in which it is safe to buy (preferably below $0.19USDT and close to $0.15USDT). The yellow band provides opportunities for both buyers and sellers. If you buy Ripple in the A band, it is a safe move to sell in the B band for a conservative profit. You can also use the yellow band to buy, but it might take longer for the tokens to appreciate. Finally, the red band indicates a price range (above $0.24USDT) in which it is not recommended to buy, if you have tokens at this time the best move is to cash out.
Want to learn more?
Listen to Ravinder Deol's excellent podcast about Ripple:
https://itunes.apple.com/us/podcast/b21-block-cryptocurrency-blockchain-school/id1236251064?mt=2Don't hesitate to post your questions.
Note
Thank you for reading! Remember that every investment involves risk, and you should conduct your own research before making a decision.