RippleUSD 1D: 9M-Forecast 0.20 > 0.30 > 0.40 > 0.60 > 0.75 USDIn my opinion Ripple is still undervalued compared to Bitcoin and Ethereum. Why? If you put the value of Bitcoin in relation to its circulating quantity and you compare this as an index with Ripple, the price of Ripple compared to Bitcoin is 12, if Bitcoin would be 100. The Index of Ethereum is 38, just for info. This could mean two things: Bitcoin is overvalued compared to Ripple or Ripple is undervalued compared to Bitcoin. I guess both are true. But Bitcoin is the main currency, it cannot be overvalued in this model, because it defines the price ratio. However, this means for Ripple that the price could rise, if only to compensate the undervaluation.
Ripple is a blockchain application for financial service providers and banks. Ripple connects them and companies to send money globally. It is more a competitor to SWIFT than to Bitcoin. Many friends of decentralized cryptocurrencies have a problem with Ripple because Ripple is for banks. By the way I am a fan of decentralized cryptocurrencies and I am convinced of Ripple technology. Both is possible. This means Ripple can exist alongside Bitcoin and Alts. But it is still interesting that the price of Ripple follows the price of Bitcoin. It can be assumed that Ripple will uncouple itself more from Bitcoin as the leading currency, but not in the coming months.
The performance of Ripple was not really good in the last few weeks. Too much action with BTC. But I think we saw the lowest low. A down to 0.10 USD is technically still possible, but the support at 0.15 USD is very strong - as we have seen. So this should indicate the confirm of the trend reversal. An up to 0.60 USD until the end of the year is possible.
Let's see what happens. Happy trading. :-)
See also:
Chart Aug 20
Chart Jul 23
Chart Jul 11
