XRPUSD has pretty solid long signal on my strategy, IMO very high change that bottom is in for now. Need to follow the coming impulse to see what it does. Easy to se SL rules for lower low IMO...
Ahmed3732
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I’ve been watching from the outside for quite some time and have decided to join. This is the only okay post for XRP the rest is garbage. Here are a few reasons why:
1-XRP is aimed at banks and banks don’t want to use XRP nor do they have the reaglotory structure currently. Don’t believe me? Ask any journalist out there that’s been investigating XRP/Ripple. The first person that comes to mind is Jason Popper. The SEC is no where near putting fourth any guidelines either.
2-CFPB this poses an even bigger issue for XRP. Don’t believe me? Call them and ask the CFPB better yet find a pervious employee at Ripple and have a discussion with them. Ripple wants to say remittance companies will use XRP however again the structure is not there per the CFPBs guidelines. Remittance companies need to be able to have a cancel button within 30 minutes of the transaction being processed, how would you do that with XRP unless there’s the structure in place.
3-The market is currently still bearish. A caveman could tell you that but it seems some never learn. This is a clear manipulation of the market. Do you honestly believe it’s all up from here? You have to be realistic.
All these items along with this chart tells you XRP is overvalued and will probably going down to .23-.29.
Ahmed3732
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by the way I didn’t mean to post that comment on here. Another garbage post.
mrLOBSTER
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@Ahmed3732, I see possible 0.23-.0.29 too but I have currently an long signal on daily etc that I need to follow. I hate to do price predictions, I just follow my rules and mostly publish some very random stuff. Price tells me if its sustainable once we get that daily impulse up.
@Ahmed3732, please excuse my ignorance. First of all, you are very right that market is still bearish and current daily cannot confirm reversal. There will be atleast one more fall, at-least, which can go ~$0.3 to match previous high.
But about structure and "banks don't want to use" comment. In my opinion, that seems wrong. If bank does not want to use because of these obvious "flaws", they will neither put any development effort for test flight. Right now few institutions are doing to, they are testing XRP. The flaws you have stated must have been in their discussions. If they cannot go ahead with these, they will neither jump for test flight too.
I have seen how Software and IT Infra in Banks are taken care of. If stick to legacy technologies, unless they have very good reason to move on. So if they decided to move on, and test, they must be seeing a long term good ROI and customer success. Right?
XRP and XLM has far better Bank focussed structure than BTC/LTC. Well BTC and LTC can be opted for investment and payment options, but bank cannot use it for transactions. These do not fit in their requirement.
*By above statement, I am not saying XRP will moon. I don;t know if it will moon soon :) "
mrLOBSTER
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@myst3rious, I see XRP to overperform BTC.
Also STRAT looks promising, but I do 100% technical analysis. Time will tell, rules matter in this game, more than being "right".
I currently Hold ETHUSD, STRATBTC and XRPUSD. Bought couple days ago.
Ahmed3732
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@myst3rious, I understand your remarks in regards to banks, however they have come up against a wall currently. That wall is a massive no go from regulators currently also there huge reputational risk involved so if a bank does decide to move forward it will not be in the states and it will be a very small size bank. Also the majority of banks that ripple targets have far less regulations than the big ones( yes regulatory oversight is different based on the size of the bank) Ripple has not been able to push through this issue with small banks there’s no way within the next 5 years they’ll be able to make much movement. Their greater opportunity is remittance and even then they have struggled to get through certain guidelines from the CFPB. I talk with decision makers and law makers on a weekly basis. Get in contact with the SEC or the CFPB and you will see what I am talking about. Also don’t get me wrong the software that Ripple has put out is great! However the software is not XRP. It’s really not a matter of other crypto currencies it’s a matter of crypto in general. Banks are floating crypto in a much different way people think they are looking at it. Anyways long story short Ripple the software will save banks money/time but they will not use XRP or any other crypto currency.