The overall situation of Ripple is extremely . Last week the company has collected $55m. in the series B funding having set deals with Standard Chartered, Accenture Ventures, SCB Digital Ventures, the venture arm of Siam Commercial Bank, and SBI Holdings. Additional investors participating in the round include Santander Innoventures, the venture arms of , Seagate Technology, and Venture 51. (1)
This week is a big week for Ripple since the company will be attending Sibos (Swift International Banking Operations Seminar), which is an annual banking and financial conference organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in various cities around the world. (2)
The theme of this years' SIBOS is transaction speed & innovation; which Ripple tries to fill these gaps.
NOTE These ideas are merely posted to share my ideas/thoughts on the current situation of Ripple and should not be considered as investment advice.
With this breakout at the last day of #SIBOS I am expecting Ripplelabs to announce some fantastic news which would be used for the whales to sustain an amazing opportunity for major pump.
Patience is key, trade happy.
C&H pattern characteristics :
1) Handle must not dip more than halfway to cup bottom.
2) Is a continuation pattern.
XRP's long-term trend is the opposite of bullish and the Handle has dipped more than halfway. It dipped 1240 and halfway is 1280. -> Even though there is a beautiful cup, it is not C&H pattern.
Happy trading! :)
Second is that the fundamental news is key to Ripples growth. As the description mentions there is some extremely comfortable fundamental news that sustains a bull market. Eventhough it may not seem like "positive news" due to rational arguements against the releases you may need to understand that Ripple has been accumulating for an incredible long time. What does this mean? Simply the fact that those whom have accumulated aka whales are using this "news" in order to sustain a bullmarket.
I greatly encourage your point of view on Ripples' market situation; however as my advice I would be extremely careful shorting Ripple under the current conditions.
Have a great day and happy trading to you too!