Massive H&S. The tittle says 0.03 STILL possible. it doesn't mean it will go that far. 0.03 is the last support from the 2015 bull run. I'm looking for some support on the base of that channel around 0.08/0.09 but in my opinion we can have a selloff wick to 0.03.
There's no TA in here just a collective FUD effort on TradingView lol. That chart makes 0 sense, flagged for report.
huskvar
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@c3tr4, if you don't like you are free to disagree. Go all in if you want.
c3tr4
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@huskvar, I'll tell you why I disagree and give you a few reasons.
First, retracing back to 2015 etc. means nothing to me. Why? Because this is not the traditional stock market and the fundamentals of how this market works are shifting very rapidly as we speak right now making retracing back in time even more unreliable than it already was, this market is simply too small and unpredictable for Stock Market TA. That doesn't mean that some fundamentals of TA can't be used to make some easy trades easily spotted by even the untrained eye but when it gets complex most TA's never pan out well.
BTC has been highly praised for quite some time as king but now we have a problem. Other coins can do the same thing, cheaper and more efficiently making BTC obsolete, this is starting to be highlighted thanks to the hash war which more than likely sparked the dump which otherwise wouldn't have happened (opinion). Then you have the timing of bakkt being pushed back right on schedule (probably more market manipulation that no chart can predict obviously), the entire dump was orchestrated there's nothing natural about it.
Another problem now is that as recent as October of this year (2018) its reported that China not only owns somewhere between 74-80% of all BTC but also over 51% of BTC hash power, that means BTC is no longer Decentralized, it's now one of if not THE most centralized coins whether people want to accept that or not. The higher the price goes for BTC the richer China gets, if you see a 50k-100k BTC you will also see a new China superpower rise. I don't know where you live in the world but I'm absolutely not in favor of that happening. BTC has not aged well, it's slow, higher transaction costs, little use case at all other than sending back and forth as a form of digital currency (again other coins can do the same but faster, ie xrp). Some feel it's a store of value as well, maybe in some way, shape or form there's truth to that but if the lights ever go out so does your networth if its all in BTC. so why not use something tangible instead for storage of value?
What does this have to do with XRP though?
-XRP was premined therefore there will never be a hash war
-XRP Ledger can not be change even by the CEO himself therefore making it the only true De-Centralized coin debunking all the ridiculous FUD about it being Centralized. XRP/Ripple/ & Ripple Inc are all separate.
-XRP was already declared a currency in a court ruling in 2015
-XRP has worked closely with SEC from day 1 and has been fined by SEC years ago. XRP's current lawyer is a former SEC employee. If XRP was going to be declared a security, SEC would have taken it down long ago.
-XRP has lobbied the white house about its use case for transferring currency
-XRP has been the ONLY crypto mentioned to be used by the IMF/SDR to effectively add a digital asset to that special bag
-XRP has the most PROVEN partnerships where the suppose partner listed on the XRP site is also listed on the other companies site unlike most other coins who fake it.
-Some of XRP's partnerships are already using its technology in the real world, who else is doing that other then maybe BAT with their Brave browser (which is on a far smaller scale)
-The more volume sent through the ledger the higher the price of XRP
-XRP has already established that it does not depend on the rest of the market to survive, it can stand on its own two feet and has already begun to de-couple from Bitcoin despite finally slipping with the rest.
-XRP has been the most resilient coin in the worst crash since 2014
-XRP has an Allstar team of REAL people that you can research and look up their resume's and experience on Linked-In, nobody knows who the hell made Bitcoin. People can say nobody can control it but if the person that created it is uknown then the reality of control over the coin may be forever unknown and that's a huge risk.
-XRP eating SWIFTS lunch is just the beginning, XRP will do much more down the road.
-Other coins that are worth far more than 3-5 cents are already below their ICO price and won't budge much more and these coins aren't even mainnet yet.
-XRP The first Major US Bank to use XRP is to be announced this year and hasn't been yet, rumors of it being Bank of America. (But they are rumors until confirmed)
There's simply too much use case/utility for XRP to be bothered by being dragged through the mud by BTC, it makes no sense. When Amazon stock drops 10% that doesn't mean Google & Facebook drop 10% too, the de-coupling MUST and WILL happen.
I'm not saying that this market isn't a mess and that XRP can't drop another 10 or 15 cents in a really bad situation but the price point you're talking about would be a complete wipeout of the market and possibly the end of BTC, if you put too much bear pressure on a market that doesn't even have a 130b cap you're not just shaking out the weak hands but you may find that all that BTC the bears accumulated through the market manipulation will have nobody interested in buying back when the bears want to make money but it won't effect XRP because XRP will continue doing its thing. 0.03 cents? What does that put BTC at, 1K or under? BTC 1K predictions and 3 cent XRP predictions are as extreme as XRP 589ers and Ripple Riddler Tin Foil hat extremes just the opposite end of the spectrum.
If BTC continues to drop and XRP continues to follow it through time we will eventually reach a point where XRP is unwilling to go lower and it will completely de-couple from BTC, once that's done and a bullrun starts you can say goodbye to BTC being #1, XRP will take that spot quicker than you see it coming.
Anyway, here's some fun facts about XRP
- Ripple didn't create it, another company did that later changed its name and gifted the protocol to Ripple. XRP was created BEFORE Ripple even existed
- If do some research you'll find that some of the original idea for BTC was taken from the concepts of the XRP token back in 2009
- Ripple has members of its team that are also on the board of the Federal Reserve.
- XRP actually has the highest Market Cap and is technically #1 over BTC already. It's not displayed as #1 because sites like CMC don't account for the XRP that's in Escrow as they should, if they did XRP would fly right past BTC the second that happened.
So i dumped a novel on you because you welcomed it. When I take a look at all the use cases for XRP, its resilience, team members, having both the sec and others on its side.. Why would the price nearly go to 0? It's all over the news, other than MAYBE Ethereum more people know about Ripple than any other crypto besides of course Bitcoin. It simply has too much going for it. Sure I accept that anything can happen but with that said I guess XRP can hit 589 some day too then right? TA/Charts can be of some assistance but there's too much manipulation and the market is too small and unpredictable to rely on TA. Also there's several charts that show what you drew but a channel heading up after a bottom cup formation to the upside so nobody really knows where this is going.
I'd say 3cent XRP is about ridiculous as XRP hitting 589 eoy. That's my 3 cents (or according to you, my 1 xrp).
Anyway, I decided to not report your chart because I looked closer at it and it was drawn out more than I noticed at first, sunlight was hitting my monitor and all i saw was 1 blue arc'd line, no channel or candles lol. You also responded to me quite respectfully so that would be really lame for me to do that to you, so just FYI I decided to not hit that report button, I think your chart looks like a real "idea" but the title is fear mongering and really gives the impression of having an agenda, especially when there's another post will almost the same title but 5 cent XRP, a bit outlandish.
And don't forget, XRP can be held as storage of value too. It also can be used as a currency although that may or may not be their intention but fact remains that it sends millions upon millions of dollars cross boarders in seconds for pennies on the dollar, meaning it already does what BTC does but better.
/cheers
huskvar
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@c3tr4, I could debate the Fundamentals of BTC vs XRP and spend 1 hour doing that but this is simple TA and it has nothing to do with fundamentals or even TA in traditional markets.From what i can see you are only looking for the fundamentals and trying to explain everything with that but remember that markets are irrational and played by whales with large positions. Remember this specially with Ripple. I can't predict the future and i will not choose a side. I will wait for a bottom signal both in btc and xrp and i will play both for the long term. I am a bitcoin maximalist but with blockchain being such an innovative tech i prefer not to choose sides for the next 3 years. Buy the dip on both. Cheers
MaxL82
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Ha ??? Care to translate ? It makes no sense.
huskvar
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@MaxL82, I like minimal Charts. We will have a strong support around 0.22 because of the 200MA on the weekly. After that is 0.08 and 0.03.
c3tr4
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@huskvar, Another part of why I take issue with your post. There are several resistance levels before 3 cents much higher but you're going straight for the big clickbait 3 cents, unethical but that's your choice.