Ripple - The Road to $1

POLONIEX:XRPBTC   Ripple / Bitcoin
What's up traders, I'm back with a brand new market insight on cryptocurrencies, today I'm on the 12h chart with XRP/BTC.

This is my first piece of analysis since my prediction back in April 2017 when I predicted the breakout from $0.03 (chart is shown below).

Ever since investing in Ripple in early 2017 I've always had a long term target of $1 based on the technical aspect of the asset and the fundamental background of the company.

The curve presented on the chart can be seen across various financial markets and is simply a representation of an asset becoming less valuable over a long period of time.

(Since Ripple achieved a new all time high the asset has depreciated 85% and created a market low at 3450).

You can see the curve illustrated is similar to the one we previously experienced this year.

The present curve is acting as a resistance barrier which is keeping price from breaking out, as you can see we have formed a solid support trendline and price is now being squeezed between 4000 and 6000.

We need a lot of volume behind this move for it to be successful, I believe the SWELL conference can provide this if the result is positive.

To all of you who are not aware Ripple are holding the SWELL conference in Toronto over the next 3 days and this will impact the short term direction of Ripple, you can tune in to watch it live here: https://swell.ripple.com/

A lot of hype has been built up around this event but it was shortly buried as BTC             stole the spotlight with a move to around $6,000.

I'll be sure to update this move as it progresses, I look forward to watching the live feed for SWELL and see how the market reacts, if the result is negative I still believe Ripple to be an excellent addition to anyones portfolio over the longer term.

Don't forget to leave a thumbs up and follow me for more analysis.
Comment: Pay attention to this price structure short-term.

Comment: Underwhelming start to #swellbyripple but optimistic.

Remember this is day 1/3... Long way to go.

Comment: Update on XRP/USDT below.

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Optimistic, to say the least.
+2 Reply
unitednoobies evoprimes
@evoprimes, Not even close we will hit $1 by 2020.

+3 Reply
Looks like the market did not like the news (It was weak). They want to hear about new banks coming on line and nothing else matters.

my .02
+1 Reply
@tadammass, I agree, still interested to see what happens in the following 2 days of the conference.
+2 Reply
yvofox LewisGlasgow
I bought quite a few 4 hours ago, of I look at the past and how new crypto is I'm sure it will only go up like all other main crypto's, and yes, pullbacks are normal.
I read on a news article that Bernanke said:
Echoing those past statements, Bernanke said, "bitcoin is meant to be an attempt to replace fiat currencies and evade government regulation and government intervention."

And that attempt, he contends, won't succeed because governments won't allow it. "When bitcoin becomes a threat they'll take whatever action" deemed necessary to quash it, he said.

I diasagree with that. More and more people are getting into BTC and once it's big enough it can't be stopped!
That's my opnion ;)
+1 Reply
@yvofox, XRP won't go much lower than it is right now, that was the main reason for my post... It's a good area to hold long term in my opinion.
+1 Reply
yvofox LewisGlasgow
That's what I saw aswell, HODL!
+1 Reply
jeremyalain LewisGlasgow
@LewisGlasgow, agreed!!
+1 Reply
Maybe in April 2018 $1 XRPUSD.
LewisGlasgow Enhancement321
@Enhancement321, yes I'm not expecting this short term.
+1 Reply
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