Today we are going to short cRipple!
- Ripple is not a mined currency. It is owned by Ripple Labs and being given away as they decide. 64 billion XRP yet to be given away.
- Price went up as there are high expectations for Sibos 2016 :)
- Sibos 2016 will be negative for Ripple as they only have 30-min window total.
- It has now been pumped on this "news" which is just the ceo giving a talk... and his speech is bad, saying that ripple without the cooperation of ALL banks is useless.
- Ripple is cancerous for banks, as can be seen on their cooperation with EarthPort.
In chart + see Sibos 2015 effect on Ripple :)
Short this Cripple down with all force available.
Happy trading! ;)
The banks participating in the pilot are the largest banks in the world, including: ANZ, Bank of America Merrill Lynch, Bank of China, Bank of New York Mellon, Bank of Tokyo-Mitsubishi UFJ, Barclays, BNP Paribas, Citi, Danske Bank, DBS, ICBC, ING Bank, Intesa Sanpaolo, JPMorgan Chase, Mizuho, Nordea, Royal Bank of Canada, SMBC, Standard Chartered, UniCredit, and Wells Fargo.
First results of which will be shared at Sibos 2016 in Geneva this September. Ripple has only just introduced their steering committee, which is not even a project group - only a group to share ideas and future projects - simply said, just another sales channel.
We have experienced infamous Crypto pit at it's best. DEMON joined XRP market and gradually, thus boiling us like a frog, increased support on buy side from 300 BTC a week ago to 1750 BTC this afternoon during SIBOS ripple demo.
This did, of course, alter our chart and invalidated the trade idea. That doesn't mean the trade idea was bad, it was simply wrong.
Regarding me, I managed to scalp a bit now and then and I am still in the short position, will start adding in bigger chunks once we go below 1200. Reason?
All major FinTech and ICT companies participate in https://www.hyperledger.org/about/members . Ripple is too small to compete with SWIFT and too expensive for banks to risk investing in it (even though Ripple offers billions of XRP as a bribe/giveaway) compared to staying faithful to SWIFT.
Furthermore, this year's SIBOS conference is heavily focused on distributed ledger technologies and SWIFT's Hyperledger has several blocks, while Ripple just one. Go figure what happens to XRP if (or more precisely: when) Hyperledger becomes the de facto standard. XRP will plummet to new ATL.
Happy trading! ;)
P.S. Be careful about the Demon, he might have a come-back.
It has 83 members: https://www.hyperledger.org/announcements/2016/09/25/hyperledger-announces-5-new-members-heading-into-sibos-2016
It's growth is nurtured by the whole world: https://www.hyperledger.org/announcements/2016/08/30/hyperledger-project-grows-170-percent-in-six-months
If I could buy Hyperledger coin, I would. But still, I hope we won't have to use banks one day at all.
C&H pattern characteristics :
1) Handle must not dip more than halfway to cup bottom.
2) Is a continuation pattern.
XRP's long-term trend is bearish and the Handle has dipped more than halfway. It dipped 1240 and halfway is 1280. -> Even though there is a beautiful cup, it is not C&H pattern.
Happy trading! :)
- SWIFT defending its position as a leader: Early 2017 its gpi launches into operation, with 80+ banks, and Bank of China saying they are already happy :) https://www.swift.com/insights/press-releases/swift-successfully-completes-first-phase-of-global-payments-innovation-initiative-pilot
- Segwit knocking on the door -> btc pump, alts dump https://twitter.com/marcelv3612/status/780889419893051392
What will I do? Add to shorts! And longing bitcoin (just careful for some f u move from Chinese). Got rid of many of my shitcoins today.
Happy trading! :)