Due to the strength of btc's network effect and the overall institutional and retail interest in btc, in conjunction with several bearish indicators such as green doji's, weak demand and low volume in XRP I believe there will be a final push below the major support zone @0.00004154 that has historically acted as a foundation for previous rally's, most notably in 2017. There are several reasons why this major support zone has a low probability of holding the xrp price (in sats) where it is today: Price patterns certainly rhyme but they do not repeat, just as lightening does not strike the same place twice; whales know that every xrp trader on planet earth is looking at this major floor of support as an opportunity to take out long positions in XRP - This would be an obvious area to perform a long-squeeze and liquidate those positions for extra exchange revenues, and accumulation purposes etc.; BTC price is performing so well at the moment, it only seems natural that either the xrp price in usd terms continues to dwindle relative to btc.
when Btc enters consolidation it will be the perfect time to go long on xrp, this should be around the next leg of support (in terms of volume) @0.00003333. Unfortunately xrp has terrible fundamentals, besides the speculation, dot connecting and outright conspiracies. Ripples involvement with Moneygram was a smart move but it also indicates that institutions aren't using xrapid, perhaps due to regulations. XRP will continue to crash until such a time where real utility kicks in but this could be years away. Money gram will not be using xrapid for a long time either.
Interesting view. I disagree though about the terrible fundamentals. Compared to all the alts XRP is one of the few with signed partnerships. We need utility though. I hope 4k sats support holds!
zmassey
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@breinbanaan, i also thought the fundamentals were strong but then i realised that its all just conspiracy theories and hype and no actual utility. however, i believe this picture can rapidly improve, and I’m definitely accumulating alot of xrp while its cheap. However, i also understand that it’s purely speculative move and not really a sound investment decision.