Very interesting small timeframe volatility today, despite that, all price action staying within the range I've been discussing. The market has a lot of uncertainty right now, everyone's waiting for someone to make a move and buy/sell into that weakness.
This is the sort of environment that an announcement can make a big change happen quickly, and March could be a very important month for the future of XRP & Ripple/r3.
Thanks for watching, send me your comments/questions
@tradeformula thanks for your insight. Do you think this break will eventually lead to a parabolic breakout similar to the one at the end of 2017?
tradeformula
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@CryptoParm, I do. Uncertain about when exactly it will occur, but this is something I've been monitoring for a while. Breaking resistance in 2017 (depending on where you draw your lines) took another few months before the big move.
I think the first couple minutes of this video might help explain in more detail the thought behind exiting a previous bearish cycle, breaking out of the resistance, and going parabolic. We've seen it several times with XRP- in fact, breaking a long term resistance is always what has ushered in a parabolic move.
My only concern is that during the last breakout we were in a massive bull market with billions of dollars flooding the market maki g is so easy to push past resistance. Now we r in a massive bear market with literally no money coming into the market and no one even looking at the charts to follow through with long positions.
tradeformula
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@ThumbSkin A handful of things:
- Not everyone that buys crypto (or stocks, or anything) looks at charts
- Not everyone of those that do look at charts agrees that long positions are to be had
- It's not true that "literally no money" coming into crypto markets- of course that's not true
- XRP's success will not be dictated by traditional crypto market players- it will be dictated by real world utility. Liquidity and movement will naturally drive the price up. Crypto market players will buy up XRP when this happens as a reaction to utility using XRP.