XRP reached the moon. Brace for impact though, sun is up next!
Updated
Nobody in cryptoland is making more progress than Ripple.
It's a winner, and I am keeping it locked away for major targets ahead.
Fundamental
Most of you following me came from the previous idea I had on XRP.
It almost turned out perfectly, and achieved major gains. We have now crashed, and I am looking at the road ahead for XRP.
A road which I am looking at with great enthusiasm. A road that can quickly lead to greatness :)
So what's the latest?
First, I'll do a quick summary of why I believe Ripple is a company to bet on in the first place.
Market penetration, top level partnerships and unfortunatly; the most likely path to success.
When it comes to cryptocurrency, you have two main camps. Decentralized & Centralized.
Most want to change our very broken financial system, while a couple (Ripple being the king) wants to work with the powerful financial institutions to bring better technology into the business.
Now.. I came into this cryptoworld mainly because of the politcal aspects surrounding Bitcoin. I would like to see the corrupt banks go, power back to the people. A rebranding of our economic model sort to speak.
However, if you want to achieve success as an investor, you gotta look at things from a pure, logical and maybe somewhat cynical perspective.
Ripple is a winner, I'll actually go as far as to call it an obvious winner.
Our beloved market got a heavy start on 2018. Much of it was natural correction, but it was the regulation fear that got us bloody.
Ripple loves regulation. They have the connections, they have the product that the elites of the world wants.
Suddenly we get a reality where coins like Bitcoin is hard to obtain (or atleast use), while XRP becomes a cakewalk.
To summarize I would just point to this screenshot from a JP Morgan crypto presentation.
"Ripple is already bringing change in the industry"
The Latest:
In recent times, Ripple has been making waves.
Yesterday we learned that Saudi Arabia's Central Bank has signed an agreement to use Ripple's Xcurrent in helping banks in the KSA improve their payments infrastructure.
(xCurrent does not rely on XRP, the currency)
We also learned something I find much more substantial, namely Western Unions decision to trial Ripple's cross border payment platform xRapid.
Good read from Yahoo, with the Western Union news and explanation of the difference between xRapid & xCurrent.
On January 11, Moneygram was also announced to be using xRapid (That's the one using XRP). We are seeing more deals being made that directly helps XRP's value, which is fantastic.
Lastly, I would also like to include this bit from SBI Hodlings. Which I believe is a major positive!
SBI Virtual Currencies to Exclusively List XRP at Launch
SBI Holdings is the leading financial service company in Japan. Their subsidiary, SBI Securities, is Japan’s largest online securities company with more than 4 million brokerage accounts.
Technical
We reached the moon at the 4.618 exentions from first week run.
Back to reality, and now I believe the fundamentals are in place for a run to the sun!
Looking at 4.618 from entire december run for a final target. I'll use my pitchfork to find support/resistance (tutorial in my profile).
I will also keep updating this with more short term TA.
It's a winner, and I am keeping it locked away for major targets ahead.
Fundamental
Most of you following me came from the previous idea I had on XRP.
It almost turned out perfectly, and achieved major gains. We have now crashed, and I am looking at the road ahead for XRP.
A road which I am looking at with great enthusiasm. A road that can quickly lead to greatness :)
So what's the latest?
First, I'll do a quick summary of why I believe Ripple is a company to bet on in the first place.
Market penetration, top level partnerships and unfortunatly; the most likely path to success.
When it comes to cryptocurrency, you have two main camps. Decentralized & Centralized.
Most want to change our very broken financial system, while a couple (Ripple being the king) wants to work with the powerful financial institutions to bring better technology into the business.
Now.. I came into this cryptoworld mainly because of the politcal aspects surrounding Bitcoin. I would like to see the corrupt banks go, power back to the people. A rebranding of our economic model sort to speak.
However, if you want to achieve success as an investor, you gotta look at things from a pure, logical and maybe somewhat cynical perspective.
Ripple is a winner, I'll actually go as far as to call it an obvious winner.
Our beloved market got a heavy start on 2018. Much of it was natural correction, but it was the regulation fear that got us bloody.
Ripple loves regulation. They have the connections, they have the product that the elites of the world wants.
Suddenly we get a reality where coins like Bitcoin is hard to obtain (or atleast use), while XRP becomes a cakewalk.
To summarize I would just point to this screenshot from a JP Morgan crypto presentation.
"Ripple is already bringing change in the industry"
The Latest:
In recent times, Ripple has been making waves.
Yesterday we learned that Saudi Arabia's Central Bank has signed an agreement to use Ripple's Xcurrent in helping banks in the KSA improve their payments infrastructure.
(xCurrent does not rely on XRP, the currency)
We also learned something I find much more substantial, namely Western Unions decision to trial Ripple's cross border payment platform xRapid.
Good read from Yahoo, with the Western Union news and explanation of the difference between xRapid & xCurrent.
On January 11, Moneygram was also announced to be using xRapid (That's the one using XRP). We are seeing more deals being made that directly helps XRP's value, which is fantastic.
Lastly, I would also like to include this bit from SBI Hodlings. Which I believe is a major positive!
SBI Virtual Currencies to Exclusively List XRP at Launch
SBI Holdings is the leading financial service company in Japan. Their subsidiary, SBI Securities, is Japan’s largest online securities company with more than 4 million brokerage accounts.
Technical
We reached the moon at the 4.618 exentions from first week run.
Back to reality, and now I believe the fundamentals are in place for a run to the sun!
Looking at 4.618 from entire december run for a final target. I'll use my pitchfork to find support/resistance (tutorial in my profile).
I will also keep updating this with more short term TA.
Note
Just to make it easier for me in the comments section, I'll touch on a couple of subjects here before I'll get on to the short term TA :)The reason I can't cover everything in idea is because TV has a character limit, and I maxed it out on this one!
High Marketcap & Optimistic Scenario
Telling it like it is, when I post a chart idea for something I want to hold for long term I usually go by my most optimistic scenario, both in value and timeframe.
That has to with views and with how the chart looks.
But I will of cours keep updating the trade idea, and the more likely scenario is that I'll be more conservative and get out at 8USD if the opportunity presents itself. It's also rather likely that we are looking at a longer timeframe as well.
A more conservative look:
No Actual Usage
As some of you point out, and the biggest concern with XRP, is that the currency gets little usage. xCurrent is the platform that is being used by the banks. xRapid is used by few.
It's very legit concerns, but Ripple wants to use XRP. It's in their own interest.
I have faith that they will be succesful at that.
And to add, I am not saying 100% Ripple. It's one of many in my portfolio.
I have already taken profit off the table, and the last time I posted XRP idea, it was a much clearer and really, obvious bet. This time, I still think its a good one, but there is a reason I had much more in it the last time around :)
Note
A look at the 1 Hour!XRP looks to be ready for breakout from pitchfork.
Note
Sideways day for XRP. Going right in middle of pitchfork area.If you want an easy place to find everything new that has happened with Ripple in 2018, I would recommend this Reddit post.
Everything summarized very nicely.
Note
Interesting read on the current climate of Ripple & Paypal speculation.Ripple is superior tech, we have lots to be excited about!
Note
Perfect hits on both resistance and support!I didnt get the chance to trade it, but hope somebody else took the opportunties of the pitchfork ;P
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