I am a writer and full-time entrepreneur in addition to trading crypto. One of the benefits in following a market that never closes - is that huge chunks of time in between trades are mine to do what I want with. Many of my businesses require the occasional bout of "hands on" management - usually this doesn't take a lot of time and I am able to focus on both my love of writing and crypto.
Ripple is a project I have been following from a very early stage. Many people have dismissed it as "just another bitcoin knockoff" which really does no justice to the project. Crypto has reached the point where direct involvement in a business such as starting your own crypto project - requires immense risk and funding. The easiest way to participate in Crypto as an individual investor is to buy the asset directly. Cloud mining and other forms of paid forms of coin accumulation is almost always a loosing proposition. Most financial advisers will dedicate 5% of a portfolio's value for higher risk investments. Ripple as a 17 billion dollar currency is no more risky than investing in mining or some other industry that experiences wild fluctuations. There is some possible downside - but the upside of investing in this new asset class before the rest of the world catches on - makes the reward well worth the risk.
XRP is more or less following the pattern of BTC. BTC continues to move sideways in what is looking to either be a left shoulder or a possible double bottom. XRP has similar properties. When XRP picks a direction after we finish moving sideways - we are either retracing back to .43 before reversing - or we build a head after breaking through .50. People hate analysts who give them too many options. The advice is the same in both situations. If we move down its only a temporary situation before we move back to .50. If we hit .43 again - take another position. If we go right to .50 - wait for confirmation of the pattern before we can determine how to play things in the short term.
Yesterday was a nice break from the bearish momentum we've seen lately. XRP need to break through .50 to move forward - lets hope BTC stops its sideways momentum, breaks through 6400 and moves to challenge 6800. If this happens we will see an >.50 XRP in the very near future.
XRP is still a buy - there is lots of upside for this coin - especially considering it has a recognized project with actual merit. Short positions are not recommended during the weekend but especially with a chart like today - we can postulate that BTC will break the 6400 mark and we will head upward - but there is also a real possibility of the price continuing to be rejected and indirectly holding XRP down.
I personally am still taking positions at this level. Genius sees what other's don't - weak hands are giving away their XRP "for a song" - if you came to the conclusion that XRP was a good investment 6 months ago - it should still be a great investment today. Many people seem to be abandoning ship - but just as we have seen in previous markets - many of these same people will end up piling back in when we enter our next bull run.
Ripple is a project I have been following from a very early stage. Many people have dismissed it as "just another bitcoin knockoff" which really does no justice to the project. Crypto has reached the point where direct involvement in a business such as starting your own crypto project - requires immense risk and funding. The easiest way to participate in Crypto as an individual investor is to buy the asset directly. Cloud mining and other forms of paid forms of coin accumulation is almost always a loosing proposition. Most financial advisers will dedicate 5% of a portfolio's value for higher risk investments. Ripple as a 17 billion dollar currency is no more risky than investing in mining or some other industry that experiences wild fluctuations. There is some possible downside - but the upside of investing in this new asset class before the rest of the world catches on - makes the reward well worth the risk.
XRP is more or less following the pattern of BTC. BTC continues to move sideways in what is looking to either be a left shoulder or a possible double bottom. XRP has similar properties. When XRP picks a direction after we finish moving sideways - we are either retracing back to .43 before reversing - or we build a head after breaking through .50. People hate analysts who give them too many options. The advice is the same in both situations. If we move down its only a temporary situation before we move back to .50. If we hit .43 again - take another position. If we go right to .50 - wait for confirmation of the pattern before we can determine how to play things in the short term.
Yesterday was a nice break from the bearish momentum we've seen lately. XRP need to break through .50 to move forward - lets hope BTC stops its sideways momentum, breaks through 6400 and moves to challenge 6800. If this happens we will see an >.50 XRP in the very near future.
XRP is still a buy - there is lots of upside for this coin - especially considering it has a recognized project with actual merit. Short positions are not recommended during the weekend but especially with a chart like today - we can postulate that BTC will break the 6400 mark and we will head upward - but there is also a real possibility of the price continuing to be rejected and indirectly holding XRP down.
I personally am still taking positions at this level. Genius sees what other's don't - weak hands are giving away their XRP "for a song" - if you came to the conclusion that XRP was a good investment 6 months ago - it should still be a great investment today. Many people seem to be abandoning ship - but just as we have seen in previous markets - many of these same people will end up piling back in when we enter our next bull run.