Newton Crypto, a Canadian crypto trading platform, became the first exchange to relist Ripple (XRP). Meanwhile, crypto analyst Akash Girimath expects the XRP price to rise 55%.
Newton Crypto adds XRP back to its list
cryptocoin.comAs you follow, Newton Crypto, one of Canada’s leading crypto exchanges, decided to delist the asset nearly a year ago in the heat of a legal battle between the US Securities and Exchange Commission (SEC) and Ripple. Now, Newton Crypto has added Ripple (XRP) back to its list.
Dustin Walper, co-founder and CEO of Newton Crypto, announced the development late Wednesday. Walper tweeted that created a feeling of joy and a trip down memory lane for several XRP proponents:
Surprise! We relisted XRP on Newton Crypto.
The majority of the community took the news well. Others, however, expressed indifference to the development as they reminded the Newton team of their decision to remove XRP from Canadian platforms despite not being directly affected by the SEC’s legal battle with Ripple.
“Ripple (XRP) price prepares its game plan”
Here is how Akash Girimath analyzes the XRP price. The altcoin has been holding above the $0.448 support level since Sept. The remittance token has bounced from this level five times. It will likely aim for equal highs at $0.484.
If buyers fail to sustain the momentum after this liquidity run, there will be a correction to $0.400 provided the bears break the $0.448 support structure. This drop will trap impatient bulls. So it will blow off steam after the 73% rise witnessed at the end of September. It will therefore be ideal from the market maker’s point of view.
Patient investors should use this opportunity to hoard XRP tokens at the $0.400 level. A resurgence of purchasing pressure is possible here. This will likely give holders an opportunity to jump 55% to $0.609. This is the midpoint of the 69% collapse seen in Q2. This move to $0.609 will complete the average reversal game of the 69% collapse. This will make it a good place to generate profit for its holders.
However, an early move above $0.448 is technically likely to ruin this bullish view. The worst case scenario would include a breakdown of the $0.382 support level. Because it will create a lower bottom and invalidate the optimistic scenario. With this development, it is possible for XRP to revisit the $0.330 support where buyers will heal and move on to another rise.
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