XRP/USD - WILL WE BE RICH?

XRP broke out of the descending wedge pattern, ran up to the .236 Fib level and pulled back to retest previous resistance as support. However it did so on very low volume, so the breakout was extremely unimpressive nor vitally important.

If we maintain this level however, we have still formed a higher low, so I've plotted a potential new ascending trend line. We'll see if this holds and what larger dominant pattern emerges from here.

XRP is one of the most exciting assets to trade right now, more so than Bitcoin or ETH potentially. In my eyes, the dominant narrative is this: Bitcoin is destined to win, so if you're a believer then you're bullish bias is overpowering and you're safe to go long from almost anywhere as long as your time horizon is long enough. Ethereum is doomed to failure, so you're fairly safe to short from any level as long as your time horizon is long enough. However Ripple, with all it's potential banking implications and far-reaching network of influence and potential, is one coin that could make us kings or beggars. There's so much disagreement on it fundamentally, that it makes it a fascinating crypto to speculate on. We'll be watching this one extremely closely.

This chart is still neutral, leaning bearish. I say this because of the following:

DMI is still bearish, with a rise in the strength of the trend. Kumo cloud turning to the downside. Stochastic descending from overbought level, RSI potentially moving down through the 50% level.

There are bullish aspects to this chart. There does seem to be a turn in the DI-, RSI might hold the 50% level, there does appear to be a potential double bottom formation, and recent price action as far as volume is slightly more bullish than bearish. Eyes glued to the charts people, eyes glued.