Ripple is struggling to prove itself due lots of FUDs in the media at the moment. Say what you will but XRP is one of the few projects that actually has products that are being used right now. xCurrent, xRapid, and xVia are real products being used by major banks and MoneyGram right now as we speak as opposed to some pie in the sky 1 zillion TPS blockchain that's just getting their ideas together. XRP is as real as it gets. Yes, banks don’t need XRP to use their products or the blockchain, however, they do save quite a bit (70%) in overall costs by using XRP so know that this push will happen eventually and it’s just a matter of you being ready for it or not. This video helped me understand quite a bit about the product side of Ripple:
From a technical stand point, so far we’ve exited our descending trend line from January high and have bounced off it for support successfully. However, looking at the daily, it seems we’re being blocked by the 100MA, 200MA and a key pivot at 8450. At least we have an ascending trend line originating from April 3rd to help support this slow push. If you feel like you’re just watching paint dry, you’re not alone as I think about it everyday. So when will the action starts? Perhaps mid June.
If you take a look at the push from 3/15/17 to 5/17/17, the corrective wave was about 3.236 the time it took to produce the impulse wave preceding it. Also note the 3x fibonacci projection at .000228:
A similar ratio can be observed by the push from 12/08/17 to 1/4/18 and its correction:
With those 2 as guidelines, we can expect XRP to be done warming up by mid June and start accelerating hard towards the end of June to mid July. With that in mind, our trade would be like this:
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi-San
*The ideas and comments expressed herein are my personal opinions and should not be taken as financial advice. Being a trader, at any given point in time, I may or may not be holding the asset in question. This is not a recommendation to buy, sell, or hold.*
The problem with ripple is that it's a victim of its own success. It has the 3rd biggest market cap, so relatively expensive to pump in comparison to smaller alts and at the same time the returns aren't so great. I guess there are more attractive coins right now. At some point it should pump hard, but to me ETH and BCH appear to be leaders. So far even heavy marketing with Snoop Dogg on Consensus hasn't helped XRP. It's also funny how the Ripple's strikes new collaborations with financial institutions and the price doesn't appreciate much.. whereas IOTA runs quite nice on the same type of hype. So what's the difference? Whales not lovin XRP just yet? Or they just consider it too slow and are focused on EOS now?
Kinashi_San
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@citizen_x, What's up X. You nailed it. I'm thinking right now it's just a money flow issue. There just isn't enough capital to pump all the coins at once like we had the last Xmas. So one by one they will pump and it will just be a matter of time that XRP moves.
GerbenDeZeeuw
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Thank you very much for this clear and detailed analyse. On the non TA stuff. SBI is also planning to launch the trading platform with a prominent role for XRP (and BCH). Should give it the boost as projected by you end of June.