Hi guys, I know a lot of people have been jumping on the xrp band wagon especially after the good news:
www.reddit.com/r/Rip...stomer_is_the_saudi/
ethereumworldnews.co...-recent-partnership/
This is all well and god but from the charts, it looks as though we are not out of the woods just yet. We perhaps may be at the bottom of a new XRP rally. The fundamentals are look fantastic but only once these large corporations start using XRP do I see the value increasing based on fundamental factors. Currently, we only have speculators in the market who have been frightened out by the recent "crypto winter" pullback in price. Are they willing to invest/speculate into ripple?
From what I have seen, and I have been a ripple investor before, whenever bitcoin pulls back and has a red 24h figure, ripple always has the largest fall percentage wise. Why is this? Is it because ripple speculators don't believe in the tech and are frightened out of their tokens by the slightest dip in price?
Bottom line:
I see a continuation of the downtrend channel, we may have broken out but i see a pullback and a continuation of the down trend. However, I may end up with egg on my face and I will admit I was wrong!
If you want to join the discussion about trading, please join my discord server: discord.gg/WMwVeW5
www.reddit.com/r/Rip...stomer_is_the_saudi/
ethereumworldnews.co...-recent-partnership/
This is all well and god but from the charts, it looks as though we are not out of the woods just yet. We perhaps may be at the bottom of a new XRP rally. The fundamentals are look fantastic but only once these large corporations start using XRP do I see the value increasing based on fundamental factors. Currently, we only have speculators in the market who have been frightened out by the recent "crypto winter" pullback in price. Are they willing to invest/speculate into ripple?
From what I have seen, and I have been a ripple investor before, whenever bitcoin pulls back and has a red 24h figure, ripple always has the largest fall percentage wise. Why is this? Is it because ripple speculators don't believe in the tech and are frightened out of their tokens by the slightest dip in price?
Bottom line:
I see a continuation of the downtrend channel, we may have broken out but i see a pullback and a continuation of the down trend. However, I may end up with egg on my face and I will admit I was wrong!
If you want to join the discussion about trading, please join my discord server: discord.gg/WMwVeW5