We see that XRP is in a similar situation to BTC, where the overall IC indicators all currently point to a bearish force. Though the lagging span and the conversion and base lines look like they are close to coming into a bullish position, with such a strong run up in such a short amount of time and the fact that we've been generally heading downwards for the past year or two, I think it's more likely to interpret that for XRP, this possible change in trend is more likely to be a fakeout rather than a 180 degree turn to the bullish.
Long-term, I continue to hold my stance. There is a lot of manipulation in these markets (news spinning Ripple's decrease in sales as a bad thing), but as long as you keep in mind that the world is in need of liquidity (where the repo markets were bailed out by the Fed's easy-money policies and the stock market is inflated with stock buybacks), it isn't long until people realize what's really at the center of the problem: that our financial system just doesn't have enough liquid assets to stabilize our current situation and that the banks are going to have to cut some things in order to continue their day-to-day operations; that is, unless they find a way to have more liquidity into their old systems.
We've got to remind ourselves that it ain't about the short-term swings, but the long-term gains.
Happy trading.
-LB
**To explain what I mean about market manipulation about the news, here's a link to my Twitter post where I talk about that and link to the specific article: twitter.com/CoinBlan...1234199047113543680. Look up the Wyckoff Method if you don't know what I'm talking about.
Long-term, I continue to hold my stance. There is a lot of manipulation in these markets (news spinning Ripple's decrease in sales as a bad thing), but as long as you keep in mind that the world is in need of liquidity (where the repo markets were bailed out by the Fed's easy-money policies and the stock market is inflated with stock buybacks), it isn't long until people realize what's really at the center of the problem: that our financial system just doesn't have enough liquid assets to stabilize our current situation and that the banks are going to have to cut some things in order to continue their day-to-day operations; that is, unless they find a way to have more liquidity into their old systems.
We've got to remind ourselves that it ain't about the short-term swings, but the long-term gains.
Happy trading.
-LB
**To explain what I mean about market manipulation about the news, here's a link to my Twitter post where I talk about that and link to the specific article: twitter.com/CoinBlan...1234199047113543680. Look up the Wyckoff Method if you don't know what I'm talking about.
