Looking at the last rally and the clear fact that we are in the bullish flag, leads me to believe we are ready for continuation over the same time frame and same gains from the last rally of +180%, which will give us a target between $5.00 and $5.50 by January 2nd 2018.
This could be further pushed once Coinbase makes ripple available on their site.
I thought at first that it may be difficult to see the price rally to $10 after Coinbase puts Ripple online. However, it's possible we may see it go higher. The struggle I'm having is that the market capitalization will be very high to achieve a price of $10-15 or even $20 per XRP. I haven't done the numbers, but I know it's way up there for market cap.
In the back of my mind, I feel that it's possible that a large portion of the Bitcoin market cap could be quickly moved over to Ripple for a number of reasons: - profit potential - transaction speed (seconds, not hours) - transaction fees (pennies vs $12-25 or more for BTC transactions) - adoption and acceptance worldwide (Japan & India will bring $3-5 Trillion to the market cap far surpassing Bitcoin market cap)
There are a few issues to keep in mind about XRP: - not fully decentralized - controlled by the company - not mined in any way, simply created, like US Dollars - 100 Billion coins total - More may be created, although 55 Billion are in Escrow to manage cost/value
Only if we can break out of this bullish flag. It will likely happen. Maybe within the next hour or two. Then the rally begins to $5.00. I'll probably put in a sell order around $5 to realize gains, then buy lower after a short consolidation phase.
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Since the markets appear delayed at this time, except XLM is doing well, I'll share an update on an alternate timeline for XRP:
First target $4.20 and second target around $10 within 2 weeks.
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More rumors about XRP on Coinbase.. this is just slightly delayed.
Here is my update below.
Earlier targets of $3.35, $4.20 and $5 have been slightly modified. $4.25 looks likely and may go sideways for a few days after that before we rise again towards $10 by the 15th of January. Or we may rise to nearly $6, then drop back to 61% retracement level, sideways for a few days, then a rise towards $10 by the 15th of January.
BTC is rising right now, a day earlier than I expected. Futures markets should open tomorrow January 3rd and we'll see the rally pushed higher, futures maybe targeting 60k or more.
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This was almost a crash and burn over the holidays.. however.. it's coming through, like some of my TA, it may take an extra week or two to catch up. I'm trying to get my dates more accurate by measuring dates/times better, but it's difficult to get the timelines accurate.
Today we hit $3.00 and we're well on our way to my $5.00 target. Stay tuned.
Do you think it has a 60% retracement after reaching the goal of 3?
Lolipopba
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@tin.Foil Excellent TA. Nice work. Should we be worried about volume, it is not strong as it was on 29 & 30 december?
MSArkRoyal
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I hope so, thank you give me a trusted.
Other side, what happened if btc drop down suddenly to 10k after reach 16k at 4 Jan ?
MidoAshraf7
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i hope to this analysis will happen
saywhat
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Interesting defiantly looking to breakout real soon
ActionBronson
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Hmmm.. anyone is open to chime in on this. So I've also been considering which coins will be added to Coinbase. WHY though, WHY would they put Ripple on Coinbase if it is primarily for Banks? I want to believe that Coinbase will allow XRP to be bought on their platform, but their main metrics (presuming) should be market viability, and global use... XRP is for banks, not the average joe... Let me know your thoughts
UnknownUnicorn1720611
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@ActionBronson, I think the same, but the todays people (most of money on coinmarketcap) prefer investin in something that's going up than goin down (like bitcoin).
I also think that a ripple will never worth 20 usd because the quantity of xrps are too much.
Tin.Foil
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@ActionBronson, If Coinbase accepts XRP (as shown in various beta pictures and videos), then instead of buying Bitcoin, I'd buy Ripple and transfer that Ripple out to the exchanges for my trades since the cost of the Ripple transaction is extremely low. Plus the transaction speed is much faster (seconds instead of an hour or seconds instead of 10 minutes like ETH).
The real question will be since Ripple is not fully decentralized, will their network actually handle the transaction volume as it ramps up?
I see $10 in our future, one way or another, if not early this year, a little later. But probably early, especially if Coinbase makes an announcement.
ActionBronson
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@tin.Foil, I see what you're saying but my argument is as follows: Since actually using ripple (not trading for profit) actually using it is intended for banks, why would Coinbase add XRP if the ultimate utility goes to the banks. ETH, BTC, LTC, and BCH add utility to consumers... Ripple does not offer this to a vast majority of consumers. It makes more sense for Coinbase to add DASH or even Stellar to Coinbase prior to XRP, since Stellar is for the unbanked, and Ripple is for the banked