Hope For The Fallen Fanboys (XRP/BTC)

BITSTAMP:XRPBTC   Ripple / Bitcoin
Hell of a conference, wasn't it? There is still hope for a falling wedge pattern here for XRP. If you've already decided your XRP is trash (which it probably is) maybe you're willing to play the game? Just a guess, not investment advice. Buy 3700-3900 here sell 4100-4200. Buy 3500 and pray to god that line holds and breaks out of the wedge . Good luck, there is a lot of anger and depression after this "swell" conference, try to use it to your advantage. Keep in mind, its still in the accumulation zone and the conference is nothing but an anomaly causing the price to bump up (see my previous chart).
Trade active: Sells just hit at 4100 (not quite 4200). So far so good. Brace yourselves for that next dump to 3450-3500.
Order cancelled: Buys hit at 3490. Sold at 3600... gonna wait until this bitcoin run slows down to get back in.
I think a lot of XRP new comers bought based on the conference hoping it would bring them a windfall of profits. This is a shake out of weak hands, I think its a great opportunity to buy more for long term holders. XRP will probably do the rollercoaster ride for quite sometime at different price levels. It will be years most likely before this really takes off, if it does sooner then all the better.
+1 Reply
Brodie_MT Netrunner
@Netrunner, the last rally/bubble (before the april one) was about 2 years prior. You'd think ripple (the company) would have established a use case that is actually being used by then. They're well funded and have had a functioning ledger for almost 5 years now.
Netrunner Brodie_MT
@Brodie_MT, Exactly! But I think the bigger problem is that the market is just getting around to "Thinking about" adopting such technology. 5 years ago blockchain was thought of as a toy, they were laughing at us. They are not laughing now, and "they" are taking this more serious.
+1 Reply
Brodie_MT Netrunner
@Netrunner, I think if the 0.00003500-0.00003400 level can hold, hope remains for the price. I am pretty sure bitcoin will be going to $6700 in the next couple days though so Im not too hopeful for the xrp/btc pair to hold on here.
How come I never hear anyone mention mention the phrase "sell the news" in altcoin trading.
Brodie_MT Songkane
@Songkane, I hear "Buy the rumor, Sell the news." all the time... do you have twitter?
LOL. HODL - XRP is long term
Brodie_MT bumblefoot
@bumblefoot, It is... unless ripple decides to shift their business model and only use XRP as a proof of concept to gain outside interest and set up similar blockchains for other companies i.e. Mojaloop.
bumblefoot Brodie_MT
@Brodie_MT, ANYTHING is possible.
+1 Reply
Brodie_MT bumblefoot
@bumblefoot, agreed. ANYTHING.
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