XRP | Bank of America Uses XRP InternallyXRP is making international headlines once again - this time, news of a collaboration with Bank of America is going around.
XRP gained against the trend on Wednesday, as other cryptocurrencies faced losses. The surge followed a photo shared by Ripple CEO Brad Garlinghouse, showing him dining with Chief Legal Officer Stuart Alderoty and President-elect Donald Trump.
But have we seen this before? In the past, Ripple has been known to make dodgy deals with news outlets and participate in unsolicited and unethical advertising - who remembers all the celebs they paid to speak out about XRP, and then the string of YouTube influencers? The SEC case cracked down on this "market manipulation" particularly hard, but it merely cost Ripple a few million dollars in fines.
Recently, David Stryzewski, CEO of Sound Planning Group, appeared on FOX Business to assert that Bank of America (BoA) is now utilizing XRP for 100% of its internal transactions. If verified , this would mark a groundbreaking step toward mainstream adoption of blockchain technology within major financial institutions. (This is a little worrisome - a validation from Bank of America would really be the only believable confirmation).
As per a recent article by The Crypto Times, a move of this magnitude could position XRP as a pivotal component in global banking systems. Notably, Bank of America’s relationship with Ripple is not new. The bank has been a member of RippleNet, Ripple’s blockchain-based global payments network, which facilitates secure and fast international money transfers. Bank of America's interest in blockchain technology dates back to at least 2017, when it filed a patent for a real-time settlement system referencing a "ripple" distributed ledger. Although the patent did not explicitly mention XRP , it signaled the bank’s intent to explore the integration of Ripple’s technology into its operations. According to Stryzewski, BoA has since filed 83 patents related to Ripple’s blockchain technology, underscoring its commitment to incorporating this transformative technology into its infrastructure.
Another recent publication by Binance expressed confidence in XRP’s long-term significance, praising the technology and Ripple's partnerships through RippleNet. Ripple’s official website lists Bank of America as a member of RippleNet, reinforcing the likelihood of ongoing collaboration.
If Stryzewski's claim proves accurate, it would represent a historic milestone for cryptocurrency adoption in traditional banking, potentially leading to a massive short-term pump. It is good to remember though, as with any news relating to Ripple and XRP, there are always many "if's" and "buts".
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CRYPTO:XRPUSD COINBASE:XRPUSD BINANCE:XRPUSDT
XRPUSDC_69033B.USD trade ideas
XRP/USDT Bullish Setup Gartley Bullish Harmonic Pattern
TradingView Trade Plan: XRP/USDT Bullish Setup
Gartley Bullish Harmonic Pattern (Daily Timeframe)
1. Market Analysis:
Asset: XRP/USDT (Ripple vs. USDT)
Pattern: Bullish Gartley harmonic pattern identified on the daily timeframe.
Key Levels: The price is approaching the D-point, which aligns with the 78.6% Fibonacci retracement of the XA leg and a critical support zone, suggesting a potential bullish reversal.
2. Gartley Pattern Details:
XA Leg: Initial strong upward move.
AB Leg: Retraces 61.8% of XA.
BC Leg: Extends between 38.2% and 88.6% of AB.
CD Leg: Completes at 78.6% retracement of XA, the D-point.
Completion Zone (D-Point): Look for bullish reversal signals around this level.
3. Trade Setup:
Entry Point:
Enter a long position when price action confirms a reversal at or near the D-point (e.g., bullish engulfing, hammer candle, or pin bar).
Stop-Loss:
Place the stop-loss slightly below the D-point or a nearby support zone to account for pattern invalidation.
Take-Profit Levels:
TP1: 38.2% retracement of the CD leg.
TP2: 61.8% retracement of the CD leg.
TP3 (optional): Full retracement to the XA high.
4. Risk Management:
Position Size: Use proper risk management, risking no more than 1-2% of total trading capital.
Risk-Reward Ratio: Ensure the setup offers a favorable risk-reward ratio (minimum 1:2).
5. Additional Confirmation:
Volume Analysis: Look for increasing volume near the D-point, signaling buying interest.
Oscillator Support: Look for RSI or MACD divergence or oversold conditions around the D-point for added confidence.
6. Trade Execution:
Place Orders:
Use a buy limit order near the D-point if confident in the pattern completion.
Alternatively, wait for bullish candlestick confirmation before entering.
Adjust Stops: Trail the stop-loss as the trade progresses to secure profits and minimize risk.
Short term sell XRP setup for buysI am seeing a Bear flag form on the 15m and this was after a grab of liquidity....I expect a correction specifically from the 61.8 zone indicated there for a sell to the fvg below and then depending on the price action in the fvg zone we buy aggressively.
Disclaimer: trading involves high risk and you are responsible for decisions you make with your money
Triangle count for XRP and what it would mean EW wiseIf XRP is going to continue to respect the triangle, we should see another rejection around $2.45. Then a 3 wave move back down to the $2.10 area, though Wave E’s are allowed to be shallow and aren’t required to touch the bottom trend line. If you think Market Makers want to continue to draw out the correction to exhaust the bulls even further, then you likely lean towards this count.
Also, a triangle correction here would give me confirmation that we only have one more push up - AKA the final 5th Wave. You can’t have a triangle as a Wave 2, only Wave 4’s. It would also mean this is the same Wave 4 triangle as 2018-2024 range, just one degree lower/smaller.
This would mean we are about to start the 5th wave of the Super Cycle Wave 5.
If XRP rips from here, then I’ll leave open the possibility that the current correction could be either a Wave 2 or a Wave 4.
XRP Long6.5R trade on XRP coming up.
FOMC soon so it is a high risk trade and ao you need to be careful with how much you risk as you run a high risk of slippage.
I’m expecting one of the three scenarios to play out.
Please check my latest ADA posting for a more detailed look on a deeper flush down (red). There is nothing clear on XRP to identify how deep a deep flush would go.
XRP Long6.5R trade on XRP coming up.
FOMC soon so it is a high risk trade and ao you need to be careful with how much you risk as you run a high risk of slippage.
I’m expecting one of the three scenarios to play out.
Please check my latest ADA posting for a more detailed look on a deeper flush down (red). There is nothing clear on XRP to identify how deep a deep flush would go.
XRP bullish reversal from support will it hold ? XRP sinked and dropped because of the Jobs data and Treasury Yields.
2.25 area support is strong from the reversal bullish candle.
It does has a shot to bullish back to 2.40. Before visit back to 2.50 ; XRP needs to break above 2.40 and get the bears exhausted.
If it happens then the bulls are back from the reversal from the 2.25 support and we should expect to get back to 2.40 .. but if 2.25 support dont hold then we will prepare for the collapse along with a crash. But in my opinion i dont think it'll happen. Heres why...
1. XRP are eyes on 10$
2. XRP is about to get $500B MCAP ( it's possible)
3. XRP could flip Ethereum
So to me i am bullish on XRP the correction should be finished and bulls should recover until pass over at least 2.30 and above
First XRP needs to hit at least back to 2.50 then rise to 3$
XRP possible to revisit $1.78XRP appears to be forming a WXY correction pattern, potentially a zigzag structure, with each segment comprising three subwaves within Wave 4. The projected reversal zone for Wave 4 aligns with the 100% extension level on the Fibonacci trend, targeting approximately $1.78 .
XRP/USD: Testing Support Amidst Bearish Momentum🔥 FinCaesar's Strategy:
🩸 Long: Above $2.33, targeting $2.45 and $2.60. A breakout above the 20 EMA would signal bullish recovery.
🩸 Short: Below $2.26, aiming for $2.10 and $1.98. Persistent bearish pressure could test lower trendlines.
🔥 FinCaesar's Commands:
🩸 Resistance: $2.33. Breaking above this level could open the path toward $2.60.
🩸 Support: $2.26. Breaching this key level risks further downside to $2.10.
XRP faces pressure as the MACD shows bearish divergence and volume remains subdued. Key support at $2.26 will be crucial for bulls to defend, while traders watch for momentum shifts around the 20 EMA.
👑 "Master the tide of the market, or be swept away by its waves." — FinCaesar
XRPUSD: Will the 1D MA50 hold?XRP turned neutral on its 1D technical outlook again (RSI = 52.270, MACD = 0.080, ADX = 20.430) as it failed to extend the uptrend and instead is pulling back today. The 1D MA50 is still holding and as long as it does, the trend will stay bullish on the short term. Technically it reminds us of the April 2017 consolidation, which after keeping the 1D MA50 intact, it posted another rally to the 1.618. The similarities between those time periods are obvious and that keeps us bullish on XRP, aiming for just under the 1.617 Fib (TP = 8.000).
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$XRP three ways to breakoutThe CRYPTOCAP:XRP is ready to breakout from the massive Bullish Pennant pattern through the $2.50 resistance level as Paul Atkins, as the head of the Securities and Exchange Commission (SEC) is anticipated to ease legal pressures on Ripple Labs and potentially lead to the approval of more digital-asset ETFs.
Additionally, the launch of the #WisdomTree Physical XRP ETP (XRPW) in Europe signifies growing institutional interest in XRP.
XRPUSD Current 10 ¢ Range - Looking For Buying Opportunities ONLℹ️ XRP Remains at the top of the Daily chart BULL FLAG.
Considering many XRP holders are holding for the long run periods of sideways price action is often welcomed and is often considered a stronger bullish indicator compared to a price retracement.
Whilst XRPUSD flounders around the decending trendline of the flag top, we note the current 10¢ tracing range of this coin @ 2.3650 - 2.4675.
🟢Our current PLAN looks to accumulate more XRP on decent dips if and when they turn up.✅️
Often when these deep and often fast dips appear traders chuck their plan of trying to buy the dip in the bin then try to sell into the momentum and often end up getting trapped SHORT.
⚠️Below Is A Copy Of My Earlier Education Post You May Find Useful👍
I would consider the following as a GOLD STAR LESSON TO BE SAVED.
Yesterday created a great reminder opportunity that you must have a PLAN & RULES.
Even SeekingPips is human and therefore sometimes will deviate from the plan.
The GOLD SECRET is to realise the error and get back on track as soon as possible.
I was very clear on the chart share on 01/01/2025 that I only wanted to accumulate XRP
Here is the copy of that paragraph :
"ℹ️ However whilst price remains above 2.10 USD I do not want to take the short side of XRP."
By the next chart share the next day 02/01/25 it was clear to me where price was and that I was seeing a clear BULL FLAG on the DAILY CHART.
✅️ With that information I had a plan❕️✅️
ℹ️So what's the lesson you ask?❔️
⭐️Well Seeking Pips didn't stick to the plan.
Price was still well above 2.10 but shared a short chart idea.
This is why a TRADE JOURNAL is a GREAT idea.
In real time you may not see or notice any TRADING ERRORS but by having a journal it's in black and white and you can spot any problems early.✅️
⚠️So what were the KEY POINTS from yesterday?
🟢 Based on the D1 timeframe chart there was no valid reason according to my PLAN to conditioner any short positions.
🟢 Even based on the intra day timeframes that I use my RED LINE on my chart share at 2.3268 was never traded below.
🟢 Too zoomed in to price on lower timeframes. Seeking Pips considered the intra day timeframes and price action over what the Daily and Weekly charts were indicating.
🟢 Quantity over quality, wanting to be active and share some content, even given the fact that the DAY, WEEK and EVEN YEAR had just started.
🟢 NOT GIVING the IDEA time to play out. Barely two hours earlier I had already decided that my bias was to the long side.
There was no trigger to invalid that bias.
⭐️THE LESSON⭐️
Trading is not all about Lambos and penthouses. Yes that can be a final goal if you want it to be BUT to get to that point you really do have to iron out all of the ugly stuff first...
If this post helps even one peron on their trading journey it has done it's job.👌
PLEASE LIKE AND SHARE THIS POST IF YOU FOUND IT USEFUL. 👍