Due to bullish market that happened in the XRP in the last days it seems bulls are back to this coin and we can expect more raising with this volume, but aside from the psychology of the market let’s take a look into its TA. Price has started it’s raising with a pin bar candlestick from the intersection of the bottom line of red and the blue channel and for now I believe the first target would be the top of the blue channel around 3.3$-4$. Although it is possible that price meets the bottom line of the red channel again and start it’s move from there. In the middle we have a strong resistance on 0.9752$ and also the middle line of the blue channel and if these resistances break out price will meet 3.3-4$. In a big picture I think if price breaks out of the blue channel from top we can expect to see ripple around 20$ in the early of 2019.
Trade active
⋅
As I've mentioned before a few days ago price meets the low of the red channel with a shadow and I believe the rising will begin from here. For 20$ I think early of 2019 will not happen anymore but it is still a serious target for me.
$20 in early 2019 ?
Well let's see about that with simple calculations:
There are 39 billion xrp, at $20 each would bring their market cap to 780 billion dollars, which by itself is already more than 3x the market cap of ALL the coins right now (about 223 billion). Likely? Hardly...
On the other hand BTC dominance is about 50% of the market which means even if all other coins disappeared BTC would be minimum 1.5 trillion which would bring them to $88000 . Likely ? Hardly
It's a very simple exercise. What's the probabilities that happens ? Very close to zero maybe?
Don't quite your day job
MaxL82
⋅
@LuisBapCC,
Many believe with xRapid activation they will slowly transition most of its xCurrent customers to xRapid (which is using XRP) (FYI. 120 banks so far are using Ripple products and that number is cont. growing).
Considering the amount of money that goes through those transaction channels many believe this will drive XRP price up. Actually, I saw some professional banking experts (with decades of experience) calculating triple digit XRP values in next few years (if xRapid is successful). They also introduced Multi-Hop feature recently which will also allow non-xRapid customers to use it indirectly by routing transactions through xRapid gateway banks.
With Ripple team (which is insanely good) you never know :)
Apeioum
⋅
@LuisBapCC, Thanks for the advice, I will consider it. By the way I don't really need to quit my job for 20$ ripple, I just need to wait.
@LuisBapCC, Substitute this example with horses and Model T cars that a horse farmer might share in the early 1900s, and this example might be more appropriate. However, the speed of XRP as compared to Bitcoin is actually greater in proportion than what a Model T is to a horse. Sell your bitcoin to the glue factory before it's worth nothing
Well let's see about that with simple calculations:
There are 39 billion xrp, at $20 each would bring their market cap to 780 billion dollars, which by itself is already more than 3x the market cap of ALL the coins right now (about 223 billion). Likely? Hardly...
On the other hand BTC dominance is about 50% of the market which means even if all other coins disappeared BTC would be minimum 1.5 trillion which would bring them to $88000 . Likely ? Hardly
It's a very simple exercise. What's the probabilities that happens ? Very close to zero maybe?
Don't quite your day job