quantguy
Long

Ripple Ripping

BITSTAMP:XRPUSD   Ripple / Dollar
Ripple has remained resilient and avoided getting hurt by the tremendous pullback in cryptocurrencies beginning on December 22nd. It has shattered technical and psychological levels as it rocketed up to the $2 handle, where it now currently resides, decidedly stealing market share from Ethereum             , usurping it as second in market capitalization, under Bitcoin             . This is quite a departure from the $0.20 range where it sat for months boring investors who were taunted by substantial gains in other altcoins. Investors should be warned that we are currently at highs right now, so we can expect a retracement. We appear to be forming a doji candle today, which supports the fact that a pullback is near.

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Dec 22nd it dud pull back from 1.23 new ath to .69 .
Reply
quantguy gaiseric
@gaiseric, Dec. 22nd was a bloody day for just about all cryptos
Reply
gaiseric quantguy
@quantguy,

You said xrp was the only one that avoided the pull back , you meant recovery wise ? .
Reply
quantguy gaiseric
@gaiseric, I didn't say it *avoided* the pullback, I said it was more *resilient* i.e. not effected as much as other cryptos comparatively. The candle on the 22nd is a hammer that closed near highs, indicating that investors saw that pullback as a great buying opportunity, which was not the case for other altcoins and bitcoin
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gaiseric quantguy
@quantguy,

Do you expect another scenario like the 22nd if btc crashes sub 10 ?
Reply
quantguy gaiseric
@gaiseric, Supposing that BTC pulls back sub $10K, it really depends on why. For example, the bloodbath on the 22nd happened because investors were taking profits from their crypto investments for the holidays. Occasionally there are outflows from BTC to some altcoin that is in favor that particular day, like Ethereum and Ripple right now. Many times investors place fiat into BTC, then BTC to the other altcoin, so you will see outflows from BTC from this phenomenon
Reply
gaiseric quantguy
@quantguy,

Ok thanks . To what cause would you attribute the last year btc drop in the 1st week of Jan ? .
Reply
quantguy gaiseric
@gaiseric, If I recall correctly, that was due to a hack of an exchange, but I'm having trouble finding a reference...
Reply
gaiseric quantguy
@quantguy,

You are right it was a hack . Any update for xrp just broke up previous ath , is it an uptrend confirmation ? .

Also do you think xml is being pumped by Jed's xrp money , i noticed there is a correlation with every xrp surge ? .
Reply
quantguy gaiseric
@gaiseric, Yes, Ripple has made new highs but pulled back slightly. Although interest is still strong and it continues to steal market share from ETH and BTC, eventually we will need to see the corrective phase of the Elliott Wave, so anticipate a pullback
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