Supposed rumors of an AMEX CEO stating that tests utilising XCurrent/XRapid were "successful", "And in a matter of seconds, through this test, our clients were able to transfer funds in a very transparent and seamless way, from one part of the world to the other one.”
Could be false hope, or it could be the start of a sentiment switch in this market, who knows. Anything can happen as we are aware. Big moves can happen over night, within minutes. As traders/investors, we want to find the
times when the market is telling us the easiest part of the story. This waiting around, waiting for is fine and all, it gives us time to clear our minds are take a step away for a minute, focus.
SO, Where do I think the market is heading in the next few weeks to a few months.
I believe by December 31st we will be in a completely different climate, discussing completely different things. My original standpoint was that we were going to be in a multi-year bear market, which is what the historical data
led me to believe but if we scale the chart back (Set vertical to Logarithmic) you can see that, Yes, we do have a long way down. However, the market moves both ways. We are waiting for a reaction rally in the realm of 70-80 cents
which is where our lies.
From 30 cents, where we currently are, we can fall 50% towards 15 cents, worst case scenario in the weekly time frame for anyone holding.
In the opposite direction we have nearly 221% to climb towards the Major resistance around $0.80-$1, pushing further we could see an almost exact 1000% increase from this point on, buying XRP for the long term, is definitely
a good idea if you're not interested in trading it. The opportunities we have around us are plentiful, currently my short term outlook is , with possible signs of an upcoming reversal towards 80 cents.
Lets see what happens guys.
Potential for a retrace is strong however and would analyse carefully before making a decision as to how to trade this... I'm gonna wait till monday morning kicks off..
Stay cool guys
Keep a close eye guys stay safe
Hopefully trade in the green range zone before climbing higher, if volume dips and we start slumping, we may head back towards 28-29 cents and play around in the support region