A few people have asked us recently about the crypto landscape - As part of Mayfair Ventures (our Vc arm) we invest in start-ups to do with blockchain/fintech. Mostly around cybersecurity in the financial industry.
Overall we are "long" blockchain as a whole - although there is a lot of snake oil still splashing around. Even more snake oil salesmen!
XRP has an interesting model, already well established within the banking sector. If you look at its all-time high around $3.40 compared to its current sub $0.20 level. You can clearly see room for Bullish movement - have we caught the bottom? anyone's guess & it would be a guess.
However, looking at the technical analysis - we could see in the coming week a drop see image below. around the 0.165 - 0.17 level before an increase to 0.25-27 level.
Overall strategy on XRP would be bullish and hold given the current low.
Compared to bitcoin which is more expensive - it's only got a little upside (still triple) to its all-time high. which is not bad, but compared to XRP with a growing client base and an x17 potential just to it's high. Makes it more of an interesting purchase.
Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stock, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Thanks for sharing, this is my view on the current situation
Mayfair_Ventures
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@VincePrince, Good shout - your Green zone and "confirmed Bearish" are two key areas for us. Although we have not invested in XRP as a VC. We are pretty close to the blockchain space & have visibility of a lot of new technologies. Painting an overall bias - from enterprise clients and financial institutions. Especially taking into account companies like JP Morgan Coin - jpmorgan.com/global/news/digital-coin-payments