Bought into this in the $3 range. It has been a great ride. Hope you are right about long term projection. Like @Exospecialist my gut tells me it will have a minor correction soon. If this dips how far down do you think it goes?
Exospecialist
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@wrussell30, difficult to say but looking at the 5-day chart I would not be surprised with a downward swing towards $ 4.50. That is unless there is some very special information we are not aware of.
Ok thanks. That was my guess but I am still new to this. Appreciate the free flow of information from all you in this community. I set up a stop loss that I hopefully don't need to use.
Exospecialist
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@wrussell30, Looks like the downward swing is now in the making so next week might be a first buying opportunity. Below $ 4.50 is my first target for a partial buy.
Bannedhammr
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@wrussell30, I've been waiting on a dip since around 3.80$ . I believe we will only get dips on the weekly from here on out. Buy strategy for next year is as follows- Buy the 30% daily and weekly corrections. Do not wait for monthly.
Exospecialist
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Lot of Ripple Xrapid pay & settlement engine hype still in implementation phase. The financial fundamentals of MGI are weak so don't get carried away. The new MGI interface is a step in the right direction. With this kind of price movement a correction seems be around the corner.
Bannedhammr
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@Exospecialist, Thanks for the well thought comment. MGI said during earnings call they had built a platform to execute those xrapid trades and they were getting ready to greatly increase usage.
You are right but this stock is moving without xrapid being ready because insiders know whats coming. MGI volume increased from 2 mill to 3 mill on Friday. My friend. Knowing xrapid isn't quite ready has me more bullish than anything.
Exospecialist
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@charvey63, For the long term MGI could be an interesting bet. The hype is surely driving up the values. On the other hand the fundamentals have not changed and Western Union did not (yet) partner with Ripple as they stated that their own network (for their specific usecase) is at least as efficient. Still think that Xrapid is more flexible and will benefit MGI's business case in more than one way. MGI could in fact start to service banks (for specific corridors) who do not want to hold XRP.
bravissima
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MoneyGram shines ,but Xrp? When it will shine.Thanks four your grapics and sharing.