$XRP BTC - unconventional time-based analysis 130% gain 1:18 RR
Hey guys,
Ripple is struggling to prove itself due lots of FUDs in the media at the moment. Say what you will but XRP is one of the few projects that actually has products that are being used right now. xCurrent, xRapid, and xVia are real products being used by major banks and MoneyGram right now as we speak as opposed to some pie in the sky 1 zillion TPS blockchain that's just getting their ideas together. XRP is as real as it gets. Yes, banks don’t need XRP to use their products or the blockchain, however, they do save quite a bit (70%) in overall costs by using XRP so know that this push will happen eventually and it’s just a matter of you being ready for it or not. This video helped me understand quite a bit about the product side of Ripple:
youtube.com/watch?v=nSwSJQf1FOg
From a technical stand point, so far we’ve exited our descending trend line from January high and have bounced off it for support successfully. However, looking at the daily, it seems we’re being blocked by the 100MA, 200MA and a key pivot at 8450. At least we have an ascending trend line originating from April 3rd to help support this slow push. If you feel like you’re just watching paint dry, you’re not alone as I think about it everyday. So when will the action starts? Perhaps mid June.
If you take a look at the push from 3/15/17 to 5/17/17, the corrective wave was about 3.236 the time it took to produce the impulse wave preceding it. Also note the 3x fibonacci projection at .000228:
A similar ratio can be observed by the push from 12/08/17 to 1/4/18 and its correction:
With those 2 as guidelines, we can expect XRP to be done warming up by mid June and start accelerating hard towards the end of June to mid July. With that in mind, our trade would be like this:
Entry: 0.00008
Stop: 0.00007
Target: 0.00019
Risk/Reward: 1:18
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi-San
*The ideas and comments expressed herein are my personal opinions and should not be taken as financial advice. Being a trader, at any given point in time, I may or may not be holding the asset in question. This is not a recommendation to buy, sell, or hold.*
Ripple is struggling to prove itself due lots of FUDs in the media at the moment. Say what you will but XRP is one of the few projects that actually has products that are being used right now. xCurrent, xRapid, and xVia are real products being used by major banks and MoneyGram right now as we speak as opposed to some pie in the sky 1 zillion TPS blockchain that's just getting their ideas together. XRP is as real as it gets. Yes, banks don’t need XRP to use their products or the blockchain, however, they do save quite a bit (70%) in overall costs by using XRP so know that this push will happen eventually and it’s just a matter of you being ready for it or not. This video helped me understand quite a bit about the product side of Ripple:
youtube.com/watch?v=nSwSJQf1FOg
From a technical stand point, so far we’ve exited our descending trend line from January high and have bounced off it for support successfully. However, looking at the daily, it seems we’re being blocked by the 100MA, 200MA and a key pivot at 8450. At least we have an ascending trend line originating from April 3rd to help support this slow push. If you feel like you’re just watching paint dry, you’re not alone as I think about it everyday. So when will the action starts? Perhaps mid June.
If you take a look at the push from 3/15/17 to 5/17/17, the corrective wave was about 3.236 the time it took to produce the impulse wave preceding it. Also note the 3x fibonacci projection at .000228:
A similar ratio can be observed by the push from 12/08/17 to 1/4/18 and its correction:
With those 2 as guidelines, we can expect XRP to be done warming up by mid June and start accelerating hard towards the end of June to mid July. With that in mind, our trade would be like this:
Entry: 0.00008
Stop: 0.00007
Target: 0.00019
Risk/Reward: 1:18
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi-San
*The ideas and comments expressed herein are my personal opinions and should not be taken as financial advice. Being a trader, at any given point in time, I may or may not be holding the asset in question. This is not a recommendation to buy, sell, or hold.*
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