OK guys, Taking a look at XRP. Now. I'd like to note I DO NOT SWING OR DAY TRADE XRP. I've been accumulating and bought significantly this last dip. I highly doubt XRP will be available at that price again under any circumstance short of complete and utter failure of the company. People ask, Why doesn't XRP moon with all the positive news and business partnerships being announced left and right? Ripple, The company which operates the XRP block chain hosts a multitude of financial sector services which companies like Money Gram, Santander Bank (which handles a large portion of Apple Pay transactions) Western Union, and MAY other HUGE clients in the industry as they relentlessly revolutionize the space. XRP is an optional product to their other services, making them even easier to use. Now the ambitious goals of Ripple to move XRP into everyday use for cross border transactions is something I highly suggest people take a look into. The Immense market cap of XRP is quite necessary for the intended purpose and is a natural step for their clients to move into as services continue to prove superior to present day banking process. The speculative trading of XRP is not for the short term investment strategy IMHO. That said, in the event XRP transitions the Goliath clients of Ripple decide to begin using XRP to carry Cross border Transactions, the instantaneous demand for it will be unfathomable and unable to be charted in advance, especially in the event several companies standardize its use at the same time for ease of integration. This is not likely to be a predictable situation or announced in advance. I expect one day to wake up and see my bag of XRP will have valued up enough where I can retire and travel the world indefinitely should this event take place.
Looking at the chart, you can see a lot of information here and areas of interest for the next few months. Short term, I expect XRP to enter into the Blue box overhead present price action after breaking from the ascending triangle. I see the potential for the formation of an inverse head and shoulders formation for a nice pre-summer push but lets wait and see how things play out 1st.
After We hit our prospective upper target box, I believe we're likely to trade within it and occasionally bouncing from the pink trend line and at least testing the GIANT green ascending Triangle. If FOMO peters out in the market and we see a larger pull back in BTC, I'ts possible we'll pull back to the lower Target box before continuing it's up trend. I'd like to note, a Break up from the $1.40 resistance area would indicate to me a significant Bull run is underway and could return at or near it's all time high. I've outlined some trends in RSI and CCI for your review. I will not be trading XRP personally for the above noted reasons of unpredictability of adoption and because I had the courage to buy the dip and have an amazing position on XRP I find it highly unlikely will result in being in losses again at any point for years to come.
Don't forget to check back and press the play button on occasion to see how XRP is tracking within it's new cycle and PLEASE, give credit where credit is due and Like, Follow, Share, Comment, and check out my profile description if this is helpful to you and you agree with it's effectiveness and objectivity. A lot of time and effort goes into these publications which I could easily avoid entirely and enjoy the exact same profits without helping other. Not asking much guys.
Thanks!
Looking at the chart, you can see a lot of information here and areas of interest for the next few months. Short term, I expect XRP to enter into the Blue box overhead present price action after breaking from the ascending triangle. I see the potential for the formation of an inverse head and shoulders formation for a nice pre-summer push but lets wait and see how things play out 1st.
After We hit our prospective upper target box, I believe we're likely to trade within it and occasionally bouncing from the pink trend line and at least testing the GIANT green ascending Triangle. If FOMO peters out in the market and we see a larger pull back in BTC, I'ts possible we'll pull back to the lower Target box before continuing it's up trend. I'd like to note, a Break up from the $1.40 resistance area would indicate to me a significant Bull run is underway and could return at or near it's all time high. I've outlined some trends in RSI and CCI for your review. I will not be trading XRP personally for the above noted reasons of unpredictability of adoption and because I had the courage to buy the dip and have an amazing position on XRP I find it highly unlikely will result in being in losses again at any point for years to come.
Don't forget to check back and press the play button on occasion to see how XRP is tracking within it's new cycle and PLEASE, give credit where credit is due and Like, Follow, Share, Comment, and check out my profile description if this is helpful to you and you agree with it's effectiveness and objectivity. A lot of time and effort goes into these publications which I could easily avoid entirely and enjoy the exact same profits without helping other. Not asking much guys.
Thanks!
Comment:
As we can see, XRP never made it past the $.98 resistance zone and broke down invalidating the smaller ascending wedge. Now nearing lower zones of support and trends. Seeing some great entry positions if not already and some reduction in short term portfolio valuation if holding. Good thing XRP is a long term hold I'm not concerned with the small term price swings for this week! This chart is still quite valid for areas of interest and support zones for further identification of position.