pennywise_the_sage

This thing might drop down to 17k sats. And then bounce.

Long
BITFINEX:XRPUSD   XRP / U.S. Dollar
Hello fellow traders.

On the picture we see the mother of all bullish wedges . If the theory is correct, the chart should continue down to the bottom of the wedge (purple box) to 17000 satoshi value. And should, of course, than explode much higher. By doing that it would also produce a double bottom .

Incidentally, on large exchanges like Bitstamp , at 17ksat mark the demand increases substantially, so there may be some grounds to this theory.

Most of the cryptosphere acknowledges the use case for xrp. Its current traffic for on-demand liquidity usage is $5mio per day, but this number is increacing exponentially. One of the notable users of this technology is Moneygram company, one of the biggest remittance companies in the world.

So there are groungs for growth, but nothing that points to immediate development of price action. So my educated guess is April something. Seems like more waiting ahead. I hope the result will be worth it.

Comments

Good question :)
Looks like xrp wants to get out of the wedge a little sooner and it made some kind of inverse head and shouders. Which, if confirmed at $0.3 should propel it higher?

But on the other hand, the majority of demand is still situated at $0.17. So a lot of market players are still waiting for that drop.

In my opinion the wedge is a real thimg. The only question remains whether this is the real or false breakout that wil seize soon. Looks more like former, though.
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BetyMosley pennywise_the_sage
@pennywise_the_sage, thank you for the heads up
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is this still valid :D
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