We clearly see a breakdown from the prior Elliot Wavew counts. I must admit I was wrong with my optimism. Regardless, the breakdown does conform with many of the more prolonged timeline pressures for XRP (See ISO20022 SWIFT CBRP+ Timeline).
Regardless, this is a good thing. The opportunities to fill bags at these prices may never be seen once cross-border payments no longer rely on correspondent banking. While the onboarding of the unbanked is my real catalyst for growth in the long term, I am very confident that once the transition period closes, we will see a lot of utility pour into the XRPL, and the native token will be highly desirable for liquidity pools, and greasing the wheels of smart contracts. Takeaway: Ethereum is going to have a lot of competition very soon.
So, we clear this chart off and start counting again to find where in the wave theory we are floating.
Stay frosty and fill a bag if you have the means.
NFA; DYOR.
Regardless, this is a good thing. The opportunities to fill bags at these prices may never be seen once cross-border payments no longer rely on correspondent banking. While the onboarding of the unbanked is my real catalyst for growth in the long term, I am very confident that once the transition period closes, we will see a lot of utility pour into the XRPL, and the native token will be highly desirable for liquidity pools, and greasing the wheels of smart contracts. Takeaway: Ethereum is going to have a lot of competition very soon.
So, we clear this chart off and start counting again to find where in the wave theory we are floating.
Stay frosty and fill a bag if you have the means.
NFA; DYOR.