XRP possible sleeping giantXRP has had quite some trouble lately, partially due to the SEC classifying XRP as a security. Though yesterday came out the news that the SEC is doubtful about its verdict. This might have been a set-up or a divergence to deliberately keep XRP on the background and setting up some hedge funds and futures to shoot big money in the pool when the time is ripe.
Technically older chart patterns as Bitcoin itself with all the older beartrends and bottoming out, it has always done a very elongated inverted H&S. As XRP has touched already 3 times in a row the price level of 0.8 usd and got rejected I am quite sure the 4th time will be a go. There's also a comparison with previous bullrun where XRP hesitated for a moment and had a revisit to a certain price level as well before shooting up.
I can not guarantee this bullrun, but it is technically possible and I might not be surprised of the suprises Ripple has in for us. Btw, XRP has always been a late bloomer, but when it comes, there is no holding. Many people have lost hope in this coin or are totally against the fundamentals as it is a banking coin, well they have literally the most practical use cases and hundreds of contracts. Many Asian banks have been using xrp in test phases and for cheap transfer already. But there might be a next step where institutions might want to hold on those tokens as assets.
Also we know that xrp is xrapid and not xcurrent, which is the coin practically used for banking, but the success of the company is related in its tokens as well.
3 years ago there has been specualtions and predictions of a price point of 7, 10 and even 14 usd.
Think about it.
Xcurrent
XRP reached the moon. Brace for impact though, sun is up next!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.