XRP has gained major traction within the month of December. We, as investors, await for news every day and with Q1 2018 coming around the corner... we are expecting the announcement of the TWO non FI house hold name partnerships. Now there have been rumored (based on Garlinghouse' tweet) that it is a coffee shop and and furniture store (look up his tweet and you'll see). Regardless of who they are partnered with, this will bring ripple to new heights. Everyone is eagerly waiting, may it be the short term investors or the long term HODLers.
From the height of XRP's ATH, we have retraced 50% which landed us roughly around 12k sats. I believe that the ABC correction is done (given that XRP usually retraces 40-50% from every bullish run). RSI is also trending up along with MACD. OBV indicates that the volume is still here. We are trending along the trendline (white line) and have bounced off that since dipping to 12,000 sats. That support line will play a major role in our next rise towards a new ATH. The first task is to break ATH of 18k. From there I believe 20k will serve as the next resistance (based on previous resistance and human psychological barrier around numbers ending in 0's). The target price that I am eyeing from this next run up is 25k-30k sats. 25k was the previous ATH from MAY2017, so once we breach that... there is no telling where the next resistance will be at. Although, like i mentioned about human psychology, 30k sats will most likely serve as the next resistance level. As the holiday clears, more and more investors will flood into the cryptoworld (mainly due to bank delays). I expect great things from XRP in 2018! It is just not me but many others are expecting great things, XRP's rise is already dubbed "the rippening."
Happy investing all!
Lastly, this is, in no shape of form, investment advice. This is just my take on XRP's chart.
From the height of XRP's ATH, we have retraced 50% which landed us roughly around 12k sats. I believe that the ABC correction is done (given that XRP usually retraces 40-50% from every bullish run). RSI is also trending up along with MACD. OBV indicates that the volume is still here. We are trending along the trendline (white line) and have bounced off that since dipping to 12,000 sats. That support line will play a major role in our next rise towards a new ATH. The first task is to break ATH of 18k. From there I believe 20k will serve as the next resistance (based on previous resistance and human psychological barrier around numbers ending in 0's). The target price that I am eyeing from this next run up is 25k-30k sats. 25k was the previous ATH from MAY2017, so once we breach that... there is no telling where the next resistance will be at. Although, like i mentioned about human psychology, 30k sats will most likely serve as the next resistance level. As the holiday clears, more and more investors will flood into the cryptoworld (mainly due to bank delays). I expect great things from XRP in 2018! It is just not me but many others are expecting great things, XRP's rise is already dubbed "the rippening."
Happy investing all!
Lastly, this is, in no shape of form, investment advice. This is just my take on XRP's chart.
XRP was about to break previous ATH and is not retracing. I expect this to pull back to between .618 and .5 fib levels. From there we might see a bit of a sideway market... but as of lately it seems that XLM and XRP have been working in tandem to pull one another up! Hopefully that is the case and the upward bullish movement continues. Happy investing all!