GABSBY

XRP/BTC - Cup and handle formation

Long
GABSBY Updated   
POLONIEX:XRPBTC   XRP / Bitcoin
16
As described in the title, the chart of Ripple/BTC seems like an excellent time to enter.

The overall situation of Ripple is extremely bullish. 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 CME Group, 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.

Appendix
(1) ripple.com/ripple_pr...on-series-b-funding/
(2) en.wikipedia.org/wiki/Sibos_(conference)
Trade active:
Trading still active, chart shows the movement as expected. The second day SIBOS is currently being held in Geneva and more positive news has been released:
Trade active:
Breakout happening as expected, well timed for #SIBOS.

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.
Comment:
Horizontal line - upper resistance of cup broken. Major moves will occur- expecting target of ~2150 to be hit before a pull back into small accumulation for next big moves.

Patience is key, trade happy.

GM
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