While nothing is certain in a market, XRP is certainly a laggard. It goes up very slowly in a massively bullish market, and when Bitcoin gets a small correction it crashes like a champ. Some may say that a couple of good news are coming, but that's only good opportunity to sell XRP to the next unlucky guy.
Technically, we can see that XRP has a cyclical thing developing here within a large symmetrical triangle. The market sentiment, the technical indicators, and the patterns all suggest a break down by the end of year.
Watch Bitcoin price very closely. If it start falling, get out immediately. This coin is mostly abandoned by its developer. It's like stock in a company that doesn't pay dividends.
just a correction: I think the upper resistance line should be drawn slightly different if we discount the jump in May. Therefore, we get a huge rising wedge that's more clearly bearish.
I hope this coin really trashes and goes down during this alt-coin run! =D I want it at 15 cents!
Because I am going to take ALL my profits from the alts and buy up a ton of XRP.
Keep in mind: The Whales with the 100's of millions USD need to accumulate XRP. They need to get it at very low levels and the coin needs to come down slowly... This was the exact same with BCash. The Whales used that coin to accumulate LOADS of it and it had to come down very slowly and very low for the 6x PUMP a few weeks ago.
Whales like certain coins and XRP Ripple is one of them. I wouldn't play it now, but I will certainly be sticking my profits into it. XRP BABY! $$
DrJLT
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@mightytrader, Indeed. Buy low sell high. Don't be the guy that catches the dump (not that I haven't done that too :D
mightytrader
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@DrJLT, But even if you did held the bag with XRP... it's ok as XRP is not a penny stock coin; you're just out of the game probably for a little while and just have to hodl. XRP has been 20-30 cents FOREVER and eventually will go to 50 cents, I think especially as more people come into crypto over time. Ripple XRP branding has been around forever and Ripple still works on it. Cheers!
mail2khalsa
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Are we bullish about xrp in long term..?
dimisus
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Why that ? XRP will not be the coin used for the transborder transfers of banks incl. AMEX ? I don't think it is abandoned. Except you can explain more precisely.
DrJLT
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@dimisus, Is it used? Or is the technology used without the coin?
dimisus
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@DrJLT, Can USDs or EUROs be transferred worldwide in 4 seconds? XRP can. Ripple blockchain can use the technology without XRP but they need any entity with a value to be transferred within the blockchain. I do not think they have a secret hidden XRP2 that they use for the transactions.
WizardOfRealms
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@DrJLT, It is my personal belief that... "whether or not a company has signed with ripple to use xrp"... that "xrp is still being used by ripple to move the money around." Therfore: XRP is being used for money transfer and burning XRP just at a higher price for the company that has agreed to use ripple technology... Example: if the company says NO to using XRP... Ripple is still using XRP to move the money around and it costs AMEX 60% more to move it. If AMEX decides to use XRP
WizardOfRealms
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@WizardOfRealms, Not finished... sorry. If AMEX decides and agrees to use XRP in moving the money around, it costs AMEX only 30% instead of 60%. So, in theory XRP is being used period! And, it will get burned up making fewer coins ultimately available thus driving up the coins price in the future.
WizardOfRealms
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@WizardOfRealms, Oh, and as soon as the majority abandon the coin because it isn't moving fast enough... THAT is when institutional money will dump further into it and those who have sold for another fast moving coin will regret it... while the coin they then have bought into will drop 50%. Think about it.
Because I am going to take ALL my profits from the alts and buy up a ton of XRP.
Keep in mind: The Whales with the 100's of millions USD need to accumulate XRP. They need to get it at very low levels and the coin needs to come down slowly... This was the exact same with BCash. The Whales used that coin to accumulate LOADS of it and it had to come down very slowly and very low for the 6x PUMP a few weeks ago.
Whales like certain coins and XRP Ripple is one of them. I wouldn't play it now, but I will certainly be sticking my profits into it. XRP BABY! $$