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XRP Apollo 12 MomentOpinion: XRP has always been the choice for future CBDC's and the trial was meant to induce accumulation. Ultimately I believe XRP will sucesfully win and under double jeopardy laws, XRP will become part of the club of 4. ETHEREUM, BTC, EOS and soon XRP. The 4 only cryptos with legal clarity. I am of the view that given enough time XRP 4$ will be looked upon as a buy opportunity. That being said. The current macro-economic outlook is very volatile. Given the current state of XRP from a technical perspective, it is likely to visit the top of the sellers control zone. I have marked these yellow as possible TP levels. (I do not see these levels as a short opportunity) If these levels are broken, I will revise this idea to the upside. PS: This is a continuation of my July 2022 idea on XRP DYOR: XRP and Central Bank Digital Currencies (CBDCs): The World Economic Forum (WEF) has identified XRP as a particularly relevant cryptocurrency within the emerging CBDC space. This is largely due to its potential to facilitate intra or inter-bank payments and settlements in the wholesale CBDC space. RippleNet’s On-Demand Liquidity service, which uses XRP, allows financial institutions to transact in real-time across multiple global markets. This service could also support the direct exchange of CBDCs. According to Ripple, XRP is faster, less costly, and more scalable than any other digital asset, which makes it an excellent tool for bridging different currencies​1​. The XRP Ledger: The XRP Ledger is a decentralized public blockchain that can be managed by anyone who connects their computer to its peer-to-peer network. The XRP Ledger uses a consensus protocol, with validators coming to an agreement on the order and outcome of XRP transactions every 3-5 seconds. Unlike other blockchains, it doesn't require mining, which prevents energy wastage in the transaction process. Its unique properties, such as its fast and efficient consensus algorithm and censorship-resistant transaction processing, are leveraged by thousands of developers. Developers are using the XRPL to build innovative projects and applications across blockchain use cases, including tokenization of assets, online gaming, asset custody, NFTs, and DeFi​2​. The Ripple Team: Ripple's leadership team includes Brad Garlinghouse (CEO), David Schwartz (CTO), Kristina Campbell (CFO), Monica Long (President), and Eric Van Miltenburg (Chief Business Officer), among others. Ripple's board of directors includes Chris Larsen (Executive Chairman), Susan Athey, Brad Garlinghouse, Anja Manuel, Masashi Okuyama, Craig Phillips, Sandie O’Connor, Rosie Rios, Michael Warren Warren Jenson​3​. XRP's CoinGecko Ranking: As of now, XRP is ranked #6 on CoinGecko with a market capitalization of $24,482,619,091​4​. Comparison with Other Tokens (Algorand): The comparison with Algorand in terms of its role in the CBDC field and market capitalization is still ongoing. So far, I haven't found detailed information about Algorand's role in the CBDC field. To complete this research, more time would be needed to further explore Algorand's relevance to CBDCs and compare its market capitalization with that of XRP. Please note that this is a preliminary research paper and you should continue to do your own research (DYOR). Information about cryptocurrencies can change rapidly, and it's essential to stay updated with the most recent developments. Notes on how I personally use my charts/NFA: Each level L1-L3 and TP1-TP3 (Or S1-S3) has a deployment percentage. The idea is to flag these levels so I can buy 11% at L1 , 28% at L2 and if L3 deploy 61% of assigned dry powder. The same in reverse goes for TP. TP1: 61%, TP2:28% and TP3:11%. If chart pivots between TP's, in-between or in Between Sell levels these percentages are still respected. I like to use the trading range to accumulate by using this tactic. Just my personal way of using this. This is not intended or made to constitute any financial advice. This is not intended or made to constitute any financial advice. FED Macro Situation Consideration: All TP's are drawn within the context of a return to FED neutral policy. I do not expect these levels to be reached before tightening is over. NOT INVESTMENT ADVICE I am not a financial advisor. The Content in this TradingView Idea is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained within this idea constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. All Content on this idea post is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the idea/post constitutes professional and/or financial advice, nor does any information on the idea/post constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other Content on the idea/post before making any decisions based on such information.
Long
by TheBitcoinGeneration
Bulls in Control: #ALGOUSDT Breaks Channels, Sets Sights Higher💎#ALGOUSDT shows promising signs of a bullish reversal! The formation of a double bottom, coupled with a successful break above the descending channel and supply/demand zone, suggests a potential price increase towards the 88.6% Fibonacci retracement level and the 200 Simple Moving Average. Currently, price is supported by the 61.8% Fibonacci level. If the support holds, we could see a rapid rally. 💎However, a break below the support may lead to another wave down before a potential pullback. 💎Watch closely for any price action below the double bottom, as it could indicate a continuation of the downtrend.
Long
by MyCryptoParadise
2
Is a Reversal Brewing for #ALGOUSDT?💎After breaking below the ascending channel, the downtrend in #ALGO has been consistently strong. But today, on the 4H chart, we are witnessing a Hummer Candlestick Pattern, a potential sign of a reversal. 💎 Additionally, there's a clean bounce off the 461.8% Fibonacci support, which could indicate a potential bullish reversal. We need to confirm this on the Daily chart. If the current low holds until the daily close, it could be seen as the first bullish reversal signal. 💎 But let's not jump to conclusions just yet, Paradisers. We must remain cautious and acknowledge that discussing an uptrend at this moment would be premature. To establish a solid bullish outlook for #ALGO, it must break and sustain above the supply zone and the downtrend trendline. 💎 The MCP team is closely monitoring the current support level, and we'll keep you updated on any further price developments. Stay tuned, stay informed, and stay ahead of the game!
Long
by MyCryptoParadise
1
Algorand (ALGO) - Scam or Gem?Hello, everyone! There is an increased interest to atlcoin BINANCE:ALGOUSDT last couple of days because it has broken the bottom again. Some traders think that it's scam and we should forget about this token, others think that it's perfect buy level. I have another one opinion. As you know I expect $10k on Bitcoin, and first of all we should wait for this price to see which altcoins will be alive. Anyway looking at the Elliott waves formation, I can see that ALGO is forming the ending diagonal inside the wave 5. Bear market for this coin is about to end, but I can demonstrate the decrease up to -50% from current prices. To sum up, current price is not a good entry point, but this asset is not obligatory scam, but this probability is higher than pump from current. Best regards, Ivan _____________________________________ ❤️Follow me and never miss the update❤️
by Skyrexio
1
ALGO dropped a key supportHi, Friends hope you are well and welcome to the new update on ALGO. Big wedge and a long-term support: Algo has formed a big falling wedge on a weekly time frame, however, at the moment ALGO has dropped at a very long-term support of $0.16 and this level is working as a support since Sep 2019. Oversold on weekly time frame: Weekly Stochastic is also extremely oversold therefore, if Bitcoin starts small correction move, then ALGO can begin a massive reversal from this support. Conclusion: If some one wanna buy ALGO here then be very careful and keep an eye on $0.16 support, if it will be broken down then ALGO can drop at the support of wedge. More chances are in favor of a massive rally from this support soon.
Long
by moon333
2
ALGO/BTC - Algorand: Resistance_Breakout◳◱ A Resistance Breakout has been identified on the SIX:ALGO / CRYPTOCAP:BTC chart. The price has broken above a key resistance level, indicating a potential bullish trend. The next resistance key levels are located at 0.00000622 | 0.00000639 | 0.00000677, and the major support zones can be found at 0.00000584 | 0.00000563 | 0.00000525. Consider entering at the current price zone of 0.00000623 and targeting higher levels. ◰◲ General info : ▣ Name: Algorand ▣ Rank: 42 ▣ Exchanges: Binance, Kucoin, Huobipro, Bittrex, Kraken, Hitbtc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Algorand is a scalable, secure, and decentralized digital currency and smart contract platform. Its protocol uses a variation of Proof-of-Stake (PoS) called Pure PoS (PPoS) to secure the network and reach consensus on block production. Unlike other PoS models, PPoS does not reward, nor does it put validator or user funds at risk of being slashed (a loss of funds used to promote honest node and user behavior). Algorand intends to eventually leverage its PPoS design to form the foundation for an on-chain governance system. ◰◲ Technical Metrics : ▣ Mrkt Price: 0.00000623 ₿ ▣ 24HVol: 14.526 ₿ ▣ 24H Chng: 2.467% ▣ 7-Days Chng: 2.40% ▣ 1-Month Chng: -27.91% ▣ 3-Months Chng: -37.87% ◲◰ Pivot Points - Levels : ◥ Resistance: 0.00000622 | 0.00000639 | 0.00000677 ◢ Support: 0.00000584 | 0.00000563 | 0.00000525 ◱◳ Indicators recommendation : ▣ Oscillators: NEUTRAL ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : BUY ◲◰ Sharpe Ratios : ▣ Last 30D: -6.44 ▣ Last 90D: -1.69 ▣ Last 1-Y: -0.75 ▣ Last 3-Y: 0.51 ◲◰ Volatility : ▣ Last 30D: 0.55 ▣ Last 90D: 0.75 ▣ Last 1-Y: 0.87 ▣ Last 3-Y: 1.20 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is 0.60 - Bullish ▣ Reddit sentiment score is 0.59 - Bullish ▣ In-depth ALGOBTC technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF
ALGO the Star 🌟: a Fresh Look pointing at +80% Shwatup doe! Hope you are healthy wealthy and blessed <3 It is a wild and beautiful day in the world of crypto, I hope all of you are experiencing it in joy! Now here we are looking at ALGO on the daily time frame, zoomed way out so BIG PICTURE ya; and what do we see?! ⭐️ I have been simply drawing trend lines on this chart throughout the past month or so and hadn’t noticed this star pattern forming, that is until this last parabolic upswing that seems to want to connect the 5-point star pattern to its peak point of $0.94 USD ... the 4.236 Fibonacci extension of our recent low of $0.27 that happens to coincide with the trend line of our previous peaks. Coincidence? Maybe we should ask the stars... ✨ As I said in my last idea titled ALGO Bullish Trend... , “if .47 is broken, we could see a quick move to the .53 area” Well, here we are bounced off .53 to support at .49 and now back up sitting right under .53 , at .5064 , with .52 looking like it wants to become support for further uptrend. With a breakout over .52 turned support confirmation, this trade comes into play. If this star pattern plays out, we may see some resistance at $0.68-$0.70 There looks to be STRONG support at $0.42, and strong support at $0.47 and $0.49, with strength and VOLUME building here at the $0.50-$0.52 level Long open for possible +80% gains from $0.52 to $0.94 These are my ideas and I am simply sharing my ideas with you. Please assume your own risk and management. I am not a financial advisor and this is not financial advice. One Love ❤️
COINBASE:ALGOUSDLong
by DharmaCat_Pro
5
Riding the Algorand Wave: Get Ready for a Crypto Surge!Algorand's current market price has been a subject of concern among investors, given that the platform has a strong technological foundation and promising potential. The market volatility is an inherent feature of the cryptocurrency landscape, and fluctuations in prices are common and to be expected. Algorand is a relatively young project, having launched in 2019, and is still in the early stages of its growth trajectory. As such, it may take some time for the platform to gain wider adoption and establish a stable price level. Nonetheless, the Algorand team has been making significant strides in forging partnerships and advancing the platform's technological capabilities, which could bolster demand for the network and increase its market value. Moreover, the platform's long-term prospects and potential for disrupting industries such as finance and healthcare should not be overlooked. Ultimately, the decision of whether to invest in Algorand at its current price point is contingent on your risk tolerance and research. Lower prices can offer opportunities for those who are willing to make early investments in promising projects!
Long
by MarkBTV
TRADE ALERT - LONG ALGOAlgo has also entered my target down area and with the daily RSI into oversold territory, I believe this is an appropriate area to enter. Yes, Bitcoin could still come down to that 25,200 neckline area or lower, dragging ALTS down even further, but I have set my entry targets for these recent alts trades and will stick to the trading strategy at this point, holding through potential losses until they become profits again. Target will be upper levels printed. SL would be 14 cents or lower. Best, Stew
Long
by stewdamus
ALGO/USDT Falls into Bearish Trend on Daily TimeframeBINANCE:ALGOUSDT pair has turned bearish according to its daily chart, after a brief period of upward momentum. This is due to the formation of a bearish double top pattern, which broke downwards, followed by an ascending triangle that had the potential to break upwards. Unfortunately, the triangle broke downwards faster than anticipated, signaling a continued bearish trend. Algorand is currently trading near a significant support level, and if this level is breached, it could potentially result in further downside. The fate of Algorand will ultimately be determined by the performance of Bitcoin, which is a major influence on the broader cryptocurrency market. It's important to note that investing in cryptocurrencies is inherently risky due to the volatile nature of the market. Therefore, it's crucial to conduct thorough research before making any investment decisions and to have a sound investment strategy that aligns with your individual goals and risk tolerance. May the markets be ever in your favor!
Short
by UnknownUnicorn3327923
Algo Bulls Need FuelLooking at Algorand/USDT 4H on Binance, it seems like there is a long road ahead for ALGO bulls. We see two recent rejects at the .5 FIB / $.24. The retracement found support on the 200MA but the subsequent bounce was unable to fully recapture the .382 FIB at $.225. I'd expect some chop between the 200MA & .382 then a drop down towards $.21. With the two rejections in place at $.24 and little volume supporting the 200MA bounce, I'm generally bearish in the short & long term on Algo. The volume spike that drove it from $.19 to $.24 seems anomalous and without any real momentum. Should bulls get the fuel they need from somewhere in the ecosystem, its a tough road towards the long time resistance at $.26 (white line). I'd expect multiple attempts & failures at recapturing that level, especially with the .618 so close to it. With so many other charts & cryptos showing bullish indicators, Algo is a tough technical sell in current form.
Short
by ChartswithChip
7