I don’t hold any Ripple anymore, but I’m glad to see people making those massive crypto gains again .
Came across this, what do people think???
Complete crap or does he have point:
What do you hold matt?
I mostly hold ICX. I still hold NEO, OMG, and so on, but my biggest bet is on ICON with re-diversifying later.
Yeah mate - same here. Looking to spread things out a little though, started to DCA other cryptos. But back in USDT currently, might DCA XRP as when it pumps it seriously does! Time and time again aswell.
It is clear to me now. Ripple has the possibility to become the #1 coin, and will definitely pass ETH. I will still be buying BTC. They definitely used X-rapid in the price run up.
I will be doing some FOMO buying. I have to wait on my pay check to arrive.
Many cryptos started this week in the red as heavy profit taking commenced. For those who bought the hype amidst the breakout rally, the price action would have been catastrophic. A lot of altcoin pairs have dropped more than 20% from the top of the rally.
Fortunately in trading, you only lose money once you hit the sell button. Your paper losses right now might mean that you did not enter at an optimal price. If you manage to weather this storm, chances are you’ll recoup your losses and grow your investments. That’s because many altcoin pairs are bullish. This week’s correction is necessary to keep markets healthy in the long-term.
In this article, we reveal how altcoin leaders such as Ripple (XRP/USD) and Dash (DASH/USD) are showing bullish continuation.
Recently, there’s been a lot of noise about Ripple. News about the release of a commercial version of its payment platform xRapid have given investors something to be excited about. In addition, more and more financial institutions are adopting the cryptocurrency. These developments have helped push Ripple to as high as $0.80 on September 21, 2018.
Unfortunately for those who bought around that price level, Ripple pulled back due to extreme overbought conditions. The market is currently trading at around $0.54. At this price, Ripple has lost over 30% of its value from the September 21 high. It looks like there’s still more downside potential.
Daily chart of XRP/USD
If you’re a long-term investor, however, there’s no reason to sweat the recent dip. Ripple has gone up so much that it is bound to significantly correct. More importantly, the uptrend is still intact. The bullish pennant on the daily chart confirms this view. The pattern shows that the market is consolidating and is preparing for the next rally.
Dash reversed its trend on August 28, 2018 when it breached resistance of $185. The price action enabled the market to break out from the large falling wedge on the daily chart. The bullish turn of events attracted breakout players who helped Dash rally to as high as $224.83 on September 1.
Almost a month later, the market is hovering just above the breakout. This might be a cause for concern, especially to traders who bought above $200. To them, the market appears to be in danger of invalidating the breakout.
A closer look at the market, however, shows that Dash is in pretty good shape.
Daily chart of DASH/USD
After the breakout, Dash appears to be trading inside an ascending channel. This confirms our view that the market is in an uptrend.
While Dash is yet to generate a higher high, it appears to be in the process of carving a higher low above $180. Once this consolidation is over, the market will likely resume its uptrend and post its first higher high for 2018.
Many cryptos started slow this week but long-term investors shouldn’t be concerned by this temporary setback. A lot of altcoin pairs remain bullish. Take for example, Ripple and Dash. Both markets have significantly pulled back but they are forming continuation patterns indicating that the uptrend is still intact.
The question isn’t “is this complete crap or does he have a point?” the question is “what are you doing to prepare if it is true?”. It’s not a matter of “if” this is going to happen but “when” this is going to happen. For me personally, I look at things like this and plan on how I can make it irrelevant in my and my family’s lives. I then invest accordingly.
(there really should be a tin hat emoji)
Noob question: Watching the exchanges this week I noticed that as alt coins go up or down it affects BTC. Is this because of the trading back and forth from alt to BTC as day traders roll coins?
Yes. There is often an inverse correlation.
Bitcoin up? Alts down.
XRP Bounces Back on Coinbase Listing Speculation
XRP rebounded sharply on Wednesday after Coinbase announced a new asset listing process, fueling fresh speculation that the ‘banker’s cryptocurrency’ may soon find a home on the coveted exchange.
XRP Price Update
After losing a quarter of its value over two days, XRP bounced back sharply on Wednesday, rising 18.7% to $0.534. The third-largest cryptocurrency by market cap fell more than 42% peak-to-trough over the past five days. XRP spiked more than 100% last week to top $0.77 for the first time since May.
The latest uptrend was accompanied by a sharp rebound in trading volumes, with virtual currency exchanges processing nearly $1.8 billion in XRP transactions over the last 24 hours. Binance processed nearly a fifth of all spot trades via XRP/USDT and XRP/BTC. Upbit, Bitbank and Bitfinex were also among the biggest markets for XRP trades.
XRP’s market capitalization now sits at $21.2 billion – roughly $700 million shy of Ethereum. At the height of last week’s rally, XRP briefly unseeded Ethereum as the world’s second-largest cryptocurrency.
Cryptoassets as a whole added $7 billion in value on Wednesday, bringing the total market to $213.6 billion, according to CoinMarketCap.
Coinbase Announces New Listing Process
San Francisco-based Coinbase has announced a new protocol to “rapidly list all assets that meet our standards and are compliant with local law,” according to a new blog post published Tuesday. While COinbase did not mention XRP specifically, markets are already speculatingthat the token may be short-listed for consideration. That’s because several other large U.S. and global exchanges have opened XRP markets.
Coinbase currently lists just five assets on its exchange: bitcoin, bitcoin cash, Ethereum, Litecoin and the recently added Ethereum Classic.
This isn’t the first time XRP has risen on Coinbase rumors. At the height of the bull market, many in the crypto world believed XRP would be the next major asset to be listed on the coveted exchange. However, as Hacked reported back in April, XRP has been unable to list on major U.S. exchanges, possibly due to regulatory concerns. Ripple, the parent company behind XRP, has reportedly tried to pay its way onto major exchanges with no luck.
The big question mark facing XRP is whether it will one day be listed as a security token. Although Brad Garlinghouse, Ripple’s CEO, has made a convincing argument that XRP is not a security, his company’s large ownership stake of the coin has raised concerns that it could fall under the purview of the U.S. Securities and Exchange Commission.
Ripple-ites I am now a DCA’er. I feel like iv’e moved over to the dark side right now!
Any of you die hards out there want to explain to me briefly how people are plausibly justifying ripples future $100 value though?
$10 seems to be a much more likely target. If it replaces SWIFT, that would bring its value to about that point. This is it’s primary use case.
That would be a market cap far above Bitcoins right now.
As far as adoption and utility, the deputy general, or something for the IMF will be speaking at the Ripple swell conference. That should be all you need right there. They have patnered with over 50 central banks, and dozens of other banks as well. That is just what we know of, some have NDA’s.
Something very real is happening there, no sure what though.
I am still after my bitcoin goal, but I am watching this VERY closely.
Last year XRP pump was triggered by its listing on bithumb on December 11, two months after Swell. Better look what’s going on in Asia
XRP Price Pushes Higher as Ripple Eyes Political Advocacy
The value of XRP rose on Saturday, buoyed by optimism that the currency’s parent company will be able to roll out new commercial applications of its products. Ripple Labs, the company initially behind XRP, is also looking to make headway in Washington, D.C. through the formation of new cryto-focused advocacy group.
XRP/USD Price Update
XRP’s price touched a high of $0.587 in early Saturday trading. That was the highest level since Monday. At the time of writing, the cryptocurrency was valued at $0.559 for a gain of 5.6%.
Trading in XRP crossed $1 billion on Saturday, according to CoinMarketCap. At current prices, XRP is capitalized at $22.3 billion, where it was trailing Ethereum by roughly $3.3 billion.
XRP’s trading range has been difficult to predict following a sharp and sudden spike less than two weeks ago. The surprise surge, which added more than 100% to XRP’s value in less than five days, was followed by a broad correction that wiped nearly $10 billion off the coin’s market cap.
Ripple Leads Crypto Coalition
A cluster of fin-tech companies from San Francisco have joined hands to form the Securing America’s Internet of Value Coalition (SAIV), a lobby group that seeks to influence the regulation of blockchain and cryptocurrency. First reported Friday by Business Standard, the coalition is being led by Ripple Labs and includes several other companies with ties to the blockchain startup.
In addition to Ripple and its independent RippleWorks foundation, the coalition includes Coil, a digital payments company, crypto investment firm Hard Yaka and PolySign, which is spearheading crypto custody solutions. Klein/Johnson, a bipartisan lobby group, has been hired to advise the coalition. The lobby group will receive $25,000 a month and 10,000 XRP in compensation.
“We understand this is really complicated, and there is a lot of misinformation out there,” said Chris Larsen, Ripple’s executive chairman, as quoted by Business Standard. “The good news is there is a lot of interest in this topic in D.C.”
The coalition is planning to lobby several levels of government, including Congress, the Securities and Exchange Commission and the Internal Revenue Service.
Ripple’s desire to influence crypto policy isn’t surprising given the multiple lawsuits filed against it for allegedly manipulating price of XRP. Ripple is in the cross hairs of a growing debate over whether XRP should be classified as a security. The company maintains that XRP is not a security, and has offered up convincing reasons in support of that claim.
Ripple and XRP are often (incorrectly) used interchangeably. Ripple is a software company that is selling payment solutions to financial companies; XRP is a digital asset that exists independently of the San Francisco-based startup.
Trade Recommendation: Ripple
Our September 9, 2018 trade recommendation for Ripple (XRP/USD) hit its mark on September 20 when the pair climbed to as high as $0.50297. This enabled the pair to break out of the large falling wedge on the daily chart. In ten days, those who followed the trade suggestion grew their investments by anywhere from 40% to 100%.
What we did not expect, however, was the surge in price and volume on September 21. This enabled Ripple to move as high as $0.79132. Though we left money on the table, we knew that there’s always a chance to make up for it. After all, the market has managed to end its nine-month downtrend.
Technical analysis shows that Ripple is on the verge of breaking out of a bullish pennant on the daily chart. Breakout from this pattern would be a signal to the market that consolidation is over. This will attract breakout traders and momentum traders who are looking to ride the next leg up.
The strategy is to buy the breakout at $0.56 after the market generates volume of 150 million Ripple units. Some of those who bought the falling wedge breakout may still be taking profits. The market needs buyers to absorb the selling pressure.
Once breakout is complete, the coin will likely rally to our target of $0.80. The process may take less than a month.
If the market breaks out as expected, there’s a very good chance the Ripple will become parabolic. Let’s monitor the market.
Daily Chart of Ripple/US Dollar on Bitfinex
As of this writing, the Ripple/ US Dollar pair is trading at $0.56669 a it begins the breakout on Bitfinex.
Summary of Strategy
Buy: Breakout at $0.56 after the market prints volume of 150 million Ripple units.
Stop: $0.54 after the breakout.
Xrapid goes live with 3 banks