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The narrative about XRP becoming CBDC is misleadingWith the recent rally in the cryptocurrency market, the XRP community is becoming overly bullish again. As a result, we see double, triple, four, and even five-digit price targets being promoted with assurances that nothing will ever go wrong for XRP. However, we would like to remind our audience that there is nothing like risk-free investment in the trading industry. Unfortunately, it seems that with each rally, new ridiculous ideas come to light. Recently, there has been much speculation about central banks adopting XRP as Central Bank Digital Currency (CBDC). As for the United States, there is no mention of such plans on the FED’s website or even in Project Cedar (one which is responsible for the development of CBDC). Regarding Saudi Arabia, which signed a blockchain deal with Ripple in 2018, the story does not seem to be different. The subject of this deal was to create a pilot program for Saudi banks related to cross-border billing account technology (and not to use XRP as CBDC). Furthermore, in 2020, Project Aber (in conjunction with the central bank of UAE) concluded the following: “Note that public blockchain protocols such as Ripple and Stellar, which are often positioned for cross-border remittance use cases, were ruled out because of the obvious need for permissioning and privacy for an interbank payment use case (which these protocols did not support).“ To sum up this quick take on XRP as CBDC, we believe central banks do not need to adopt an already existing cryptocurrency when they can issue one of their own (without dealing with the troubled past of XRP and its executives). Therefore, we warn market participants about this misleading narrative. *If anyone knows more about the subject and plans of any central bank using XRP as CBDC, please share them with us.* Illustration 1.01 Illustration 1.01 displays the daily chart of XRP and the relationship between the price and volume. Over the past two weeks (since 9th January 2023), the volume has declined, accompanying the price increase. That is not a particularly bullish development as it hints at fewer buyers near high price tags. Technical analysis Daily time frame = Bullish Weekly time frame = Slightly bullish (but the trend is very weak) Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:XRPUSD
by Tradersweekly
44
XRP formed a bullish Butterfly | A good buy opportunityHi dear friends, hope you are well and welcome to the new trade setup of XRP coin. Previously the price XRP moved slightly down than buying zone, however recovered soon and pumped more than 22%. Now on a daily time frame, XRP with BTC pair has formed a bullish Butterfly move for another pump. Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Long
by moon333
Possibility of complete breaking of the current resistanceXRP has been in a range over the past week, and the 4-hour timeframe candles saw a correction to the $0.366 support area after breaking through the uptrend line support. The strong positive reaction due to the high strength of the buyers caused the previous ceiling to be tested again. The power of yesterday's candle indicates that there is a possibility of a complete breaking of the current resistance. In this case, the higher target we can consider for Ripple will be the $0.50 area. The second resistance overlaps exactly with the ceiling resistance of the descending channel and can cause a negative reaction. This area is a strong supply range; from this level, we expect a price correction to support $0.4089. The main target of medium-term buyers can also be considered in the resistance range of $0.5590.
by MonoCoinSignal
1
Downturn approaching before moonshot!Don't get caught out.. we have a possible downturn approaching as well as things are beginning to look more volatile before the inevitable moonshot past all time highs. As you can see in my predictions since November 9th, it's played out quite rhythmically. Best bet is to buy beforehand but a good final opportunity to buy more Xrp in the downside possibly to 0.36 cents. Anything is possible here as the breakout upwards is just around the corner. If Xrp breaks out.. make sure to buy! If it starts going down towards 0.36 cents.. make sure to buy! Big $$$ to be made in these crucial final stages of a coming bullrun 🐃
BITSTAMP:XRPUSD
by Immortalsouls
2
Another pump and dump or an honest rally?More than a week ago, XRP reached our short-term price target of 0.30$ in a brief and sharp selloff. However, since then, the price has erased its losses and gained over 20% from the low. Interestingly, this retracement coincides with the price returning to the 50-day SMA, which is usually associated with corrections of the primary trend. Therefore, we will pay close attention to this level and its ability to halt further price rise; a breakout above it would hint at a very strong correction of the downtrend (and potentially to a continuation of the rally/trend reversal). In such a case, we will pay close attention to volume levels and whether they will be sufficient to propel the price higher. Since the lows, the volume-price trend has been bullish; therefore, we will look for a decline in volume to suggest the exhaustion of the rally. Furthermore, we will closely observe the stock market to which cryptocurrencies are highly correlated. Based on the premise that the U.S. market is set to dive deeper into a recession in 2023, there is a very high likelihood of the stock market returning to lows, dragging XRP with it. Therefore, we think it is too early to announce the start of a bull market. Despite that, we can not ignore the lack of follow-through with the price action in the selloff to 0.30$. Therefore, if the price breaks and holds above the 50-day SMA (without signs of a significant decline in volume), we will be forced to abandon our medium-term price target of 0.28$ for XRP. At that point, it will be better to wait on the sidelines and wait for the picture to clear out before setting new price targets. Illustration 1.01 Illustration 1.01 shows the daily chart of XRPUSD. Yellow arrows indicate price retracements to moving averages. Illustration 1.02 Illustration 1.02 portrays the weekly chart of XRPUSD. Yellow arrows indicate price retracements to moving averages. Constellation of 20-week and 50-week SMAs stays bearish. Technical analysis Daily time frame = Bullish Weekly time frame = Neutral Illustration 1.03 The weekly chart of XRP shows the declining volume as a sign of decreasing selling pressure and drying up liquidity, which may lead to more volatile movements. Illustration 1.04 Illustration 1.04 displays the daily chart of XRPUSD. Green and red arrows hint at the price-volume trend over the past few days. Growing volume with the price is bullish for the short term. We will look for the decline in volume for signs of exhaustion in the price rally. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:XRPUSD
by Tradersweekly
35
A further idea of a bullish outlook for XRPBased on a long term trend line which bottomed at COVID low, this trend line has held ever since. We are currently approaching a pinch and I would consider the likelihood of upside as opposed to breaking this long-term trend an almost definite possibility with potential targets of ~$1.20 in the coming months with aims of reaching the downward forming pendant in time for the next halving event. As we can see for the scaled circle areas these sections are starting to look very similar and XRP rising to $1.28 over the coming weeks would confirm this idea.
BITSTAMP:XRPUSDLong
by markfranklin1987
DID YOU INVEST IN XRP?If your answer is "Yes". Congrats to you, by next uptrending between Altcoins vs Bitcoin, your money will be doubled. HOW?! In short. Let's say, you bought $1k of XRP at 30 cents ( 1000 / 0.3 = 3333.33 XRP ). After next halving of Bitcoin on May 2020, Bitcoin will reach $15k at least and the reward of miners will be decreased to 6.25 Bitcoins. This will reverse the game from the downtrend of Altcoins vs Bitcoin to the uptrend of Altcoins vs Bitcoin with double increase in value of USD. I'm not saying "Hype" but every Altcoin will try to be survived after the halving of Bitcoin and that's normal to keep the main investors in safe side. So, if you does sell your XRP / BTC or / USD at that time, you will get double profit $2k or 6666.66 XRP. If your answer is "No". You can set buy orders like what I did in GOOD TIME TO BUY BITCOIN! NEXT UPTREND WILL BE 60 CENTS FOR XRP. DECIDE AND TRY TO MANAGE YOUR WALLET WITHOUT LOSING. HAPPY TRADING ;)
POLONIEX:XRPUSDLong
by b4sk
The dynamic resistance has not been brokenXRP continued its range trend last week between the resistance and support levels intended for it. The price made a short-term strong bearish move to the $0.30 support area, which we expected, and was explored in the previous analysis. This momentary drop caused the positions taken to buy in the futures market to be liquidated. Again, a negative reaction was observed from above and in the resistance range of $0.35, which caused the continuation of the ripple range trend. The dynamic resistance of the downtrend line has not yet been broken, and until this happens, we cannot expect the short-term trend to be bullish. A break of this resistance and price consolidation above the $0.36 range could activate higher targets at the $0.40 level. You can wait at least until the downtrend line of the RSI indicator breaks and creates favorable conditions to trade in the pullbacks that will occur to the support levels, and you can start trading if you see signs of support, start trading.
by MonoCoinSignal
10
XRP vs XLM macro breakout?Who is gonna be stronger?💪 This is comparison XRPUSDT / XLMUSDT , so if the: *price is going up, it means XRP is stronger than XLM *price is going down, it means XRP is weaker than XLM My last analysis (11/08/2022) of this pair anticipated the Head and Shoulders but the pattern has not been actually triggered as the neckline has not been broken and the formation was invalidated later. Last months Ripple is much stronger than Stellar and the chart actually drawn huge inverted Head and Shoulders with Neckline being at the previous chart high @ 4.67. Now XRP is trying to get above the Neckline and stay there to confirm the breakout. IF that really happens, we could see run up to 8.62 meaning that 1 XRP would be worth 8.62 XLM, while now it's just 4.67 XLM. In other words Ripple would gain 85% against Stellar no matter what the USD value does. All the uptrendlines could act as magnets attracting and repeling the price. Invalidated below right shoulder @ 2.67. To sum it up, I think that in the following months, Ripple could be stronger than Stellar with some pullbacks along the way. What's your take? Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Long
by bizmark
4
Pathetic calls for 10$, 100$, and 1000$ - reality check In the past few weeks, the sentiment among retail investors turned increasingly irrational, with calls for sky-high prices. Indeed, we encounter a lot of predictions forecasting double or even triple-digit figures for XRP. However, we would like to highlight that these claims are driven merely by hopes, dreams, and emotions. Unfortunately, many of these forecasts do ignore some basic facts. That is why we would like to dismiss some ridiculous notions running hot on TradingView. To do so, we repeatedly illustrate what market cap XRP would have if it was valued at 10$, 100$, and 1000$. Marketcap XRP at 10$ = 503.4$ billion XRP at 100$ = 5.034$ trillion XRP at 1000$ = 50.03$ trillion Meanwhile, at its peak, the total cryptocurrency market cap (including over 20 000 different cryptocurrencies) had a value of 3.009$ trillion. The current equity market capitalization is about 122.94$ trillion. Therefore, notions promoting XRP at steep price tags lack any regard for the world we live in; furthermore, they are deeply flawed on many other levels. Illustration 1.01 Retracement toward 20-day SMA and 50-day SMA raises the question of whether the current bounce is only another downtrend correction. To support a bearish thesis, we would like to see the price fail to break above the 50-day SMA; otherwise, a breakout above it will bolster bullish odds in the short term. However, we do not expect it to impact the primary downtrend. Technical analysis Daily time frame = Bearish Weekly time frame = Bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:XRPUSDShort
by Tradersweekly
57
Do not get fooled by bullish forecastsSince the summer, we have remained relatively bearish on XRP while later warning about the unsustainable rally right at its beginning. Then, as if it was not enough, we also set a medium-term price target of 0.30$ on 8th September 2022, which we updated to a short-term price target on 30th October 2022. This was quickly followed by the token dropping from 0.45$ (at the time of our announcement) to about 0.31$ only days later. After that, the rebound came, which sparked numerous bullish calls predicting a happy story for the token. However, we remained unfazed and said the rebound would be short-lived. Furthermore, we said the bounce would just push our price targets further into the future; indeed, we also set specific rules for their reactivation. Now, with the FED raising interest rates and the reality sinking back in, we would like to reiterate our bearish stance again. With that said, we maintain our short-term price target at 0.30$ and medium-term price target at 0.28$. Technical analysis Daily time frame = Bearish Weekly time frame = Bearish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:XRPUSDShort
by Tradersweekly
56