So my previous chart I explained the market cap and dilution issue I have with XRP, Here is a chart over a 5 year period showing the divergence in bitcoin and XRP and how dominance has changed relative to the dollar.
At first XRP was Trading stronger against bitcoin relative to the dollar, but as time progressed, XRP ended up trading weaker against bitcoin in comparison to the dollar. XRP has a great marketing campaign, but Bitcoins halving is highly deflationary, hence the massive jumps in price. When its all said and done, the change in dominance, diluted supply, and over valuation of XRP...... I wouldn't touch this crap. Buy Bitcoin
Every agenda can be read out of tht comparisson. I hold XRP and want it to hit new ATHs, so here is my analysis:
Bitcoin can be consideres an EMA. Altcoin prices tend to fluctuate above and under it in more or less volatile price levels. As we can see in 20 Mar 2017 XRP is explosivly drawn to match Bitcoins relative price point and surpass it. Huge volatility to and beyond 04 Dec 2017, where it is again drawn up to match Bitcoin exactly.
As we see today, XRP is way below the "Bitcoin EMA", so there may be a fair possibility that at some point XRP moves to match or surpass Bitcoins relative price.
So, what will happen? We may wittness it in first half 2020:
See... it's easy to draw bullish and bearish pictures with TA on different time frames and patterns.
I don't trade. I invested to hold for years in something I consider the first productive and mainstream adopted crypto, which XRP right now is more than anything else. Also a bit in VET.
Augustus_Lee7
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@NoobOfTheMonth lmao okay, screenshot this and remember. Also on my previous chart, I mentioned Crypto traders having not idea what they’re talking about in regards to investing. XRP is a centralized and diluted scam
NoobOfTheMonth
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@Augustus_Lee7, And this is the moment where I say you live under a rock and just babbel the nonsense other know-nothings repeat. Every simple "centralized/Ripple dumps/scam/etc" FUD you can come up with can be disproven by facts. I wittness this since around two-three years now.
But the discussion ends here. I'm past the point where I try to discuss with people. I just hold my scam.
bigG774
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August’s is an idiot
T2Trades
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No doubt about it. I wouldn’t go as far as saying Bitcoin is completely dead in the water just yet. But one thing is for sure, once the dust settles, Bitcoin will most likely hold a spot near the bottom of the totam pole. There is a difference between Value & Price. Bitcoin maxis need to cherish every moment right now...
Augustus_Lee7
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@brodys lol you do understand this chart is reflecting XRP losing dominance...
tradetraderson
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@Augustus_Lee7, nobody cares about dominance, everyone wants to trade it in for USD at some point
ThumbSkin
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@Augustus_Lee7, bitcoin has been loosing dominance for over 2 years straight and will continue to do so until it settles at around 15-20% How you dont see that, is the very definition of the word delusion.
Augustus_Lee7
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@tradetraderson it’s called deflation and that’s why people buy gold. It’s an investment vehicle unlike XRP
Augustus_Lee7
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@ThumbSkin you missed the part where I said relative to the dollar
Bitcoin can be consideres an EMA. Altcoin prices tend to fluctuate above and under it in more or less volatile price levels. As we can see in 20 Mar 2017 XRP is explosivly drawn to match Bitcoins relative price point and surpass it. Huge volatility to and beyond 04 Dec 2017, where it is again drawn up to match Bitcoin exactly.
As we see today, XRP is way below the "Bitcoin EMA", so there may be a fair possibility that at some point XRP moves to match or surpass Bitcoins relative price.
So, what will happen? We may wittness it in first half 2020:
See... it's easy to draw bullish and bearish pictures with TA on different time frames and patterns.
I don't trade. I invested to hold for years in something I consider the first productive and mainstream adopted crypto, which XRP right now is more than anything else. Also a bit in VET.