Ripple - Peaks And Valleys - What Happens Next
XRP has been moving "sideways" since the last chart. There are two circles on the chart indicating where I think XRP will make a decision as to which way to go.
BTC has been moving in a similar manner and its important to consider what BTC is doing relative to Ripple.
There are three possible scenario's that I can see happening - all of them require no action on your part unless you are still waiting to buy (im taking another position myself).
1) We could continue to move sideways for a few days - with some small peaks and valleys.
2) The price drops and we double bottom at around .43
3) We move up to .50 and begin to work toward challenging .55
Scenario 2 and 3 would eventually play out the same way. A double bottom would likely trigger a reversal which would get us to .50 and up from there.
Moving sideways for a few days isn't a terrible market to be in (unless you are a shorter). Its an excellent time to take a few positions at some of the lowest prices we've seen in a year.
I usually trade with technical indicators rather than emotion. I choose the project I invest in based on their size and merit. XRP is the third largest coin - its leaps and bounds bigger than most of the other coins in the top 10. It has real investors, a real business plan and is partners with some very real financial companies. For those of you who havent been trading Ripple a long time - I recommend you look at the historical charts. Ripple hit $3 not to long ago. With the financial sector's growing interest in Ripple I think it would be unreasonable to not believe we will see a $1 ripple within the next few months. As a top three crypto - its valuation should increase as ETF's and trading desks begin to wade into the market.
It's amazing how many people doubt the potential of crypto after seeing how quickly it can become valuable. I've read articles about how "everyone" has bought crypto and decided they don't like it. All 2017 proved is that even though its still very difficult for the average person to get any meaningful amount of money exchanged into crypto - enough people were able to figure it out and drive the price of Ripple 5x what it is now.
Ripple will rebound in due course- the best move as of right now is to buy and hold. It could start building a head or it could double bottom - the one thing we can be sure of is there is some short term volatility that will eventually share out the weak hands. If everyone just held - Ripple would move independently - and the price would be sky high.
Until then - happy buying!
BTC has been moving in a similar manner and its important to consider what BTC is doing relative to Ripple.
There are three possible scenario's that I can see happening - all of them require no action on your part unless you are still waiting to buy (im taking another position myself).
1) We could continue to move sideways for a few days - with some small peaks and valleys.
2) The price drops and we double bottom at around .43
3) We move up to .50 and begin to work toward challenging .55
Scenario 2 and 3 would eventually play out the same way. A double bottom would likely trigger a reversal which would get us to .50 and up from there.
Moving sideways for a few days isn't a terrible market to be in (unless you are a shorter). Its an excellent time to take a few positions at some of the lowest prices we've seen in a year.
I usually trade with technical indicators rather than emotion. I choose the project I invest in based on their size and merit. XRP is the third largest coin - its leaps and bounds bigger than most of the other coins in the top 10. It has real investors, a real business plan and is partners with some very real financial companies. For those of you who havent been trading Ripple a long time - I recommend you look at the historical charts. Ripple hit $3 not to long ago. With the financial sector's growing interest in Ripple I think it would be unreasonable to not believe we will see a $1 ripple within the next few months. As a top three crypto - its valuation should increase as ETF's and trading desks begin to wade into the market.
It's amazing how many people doubt the potential of crypto after seeing how quickly it can become valuable. I've read articles about how "everyone" has bought crypto and decided they don't like it. All 2017 proved is that even though its still very difficult for the average person to get any meaningful amount of money exchanged into crypto - enough people were able to figure it out and drive the price of Ripple 5x what it is now.
Ripple will rebound in due course- the best move as of right now is to buy and hold. It could start building a head or it could double bottom - the one thing we can be sure of is there is some short term volatility that will eventually share out the weak hands. If everyone just held - Ripple would move independently - and the price would be sky high.
Until then - happy buying!
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