Few news/updates : 1 - Monday, Coinone (biggest korean exchange) is listing xrp. And is removing buying fees on XRP. 2 - Sometime next week, Bitbank (chinese coinbase) is listing xrp as well. 3 - Ripple is probably gonna announce soon most likely at their 2017 consensus (May 22-24, 2017) that they will freeze the 61.6 Billions coins which are not in the market. 4 - Ripple network updates allow the protocol to process as many transactions as Visa in the same time span, but at much cheaper cost 5 - This one needs to taken with cautious but there is rumors about Coinbase adding XRP as well in a near future.
XRP value went up by a lot lately and lot of people seems to think there is a need for a price correction. But imo, XRP is not even at the price it needs to be. Low price means more volatility and that's something they don't want.
This is not a trading advice, just a personal TA and opinion. Please feel free to comment and let me know what you think. Trade safe.
Komen
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Possible Bull Flag
Komen
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Komen
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Broke the triangle upward right at the end. Let's see where this baby goes now.
Komen
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My take on this next triangle. (This is not a trading advice, just my opinion and TA)
Komen
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That was a nice ride. Now it is time to retrace and consolidate a bit.
Komen
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Well it went well higher than i expected. It was a crazy ride. Missed some of it tho, but better make profit than cry later.
Looking to get back in somewhere between the bottom of the triangle and the 1.618 fib.
Be careful and don't rush on buying back in, we could see a bigger retrace.
Here is an update on my chart :
Komen
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Are we going at it again ?
Komen
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Komen
fineregex
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lock up needs trust in anyway if they dont have a multisig wallet sigs held by many completely different holders who have a lot to lose/political leaders from all over the world or something.
And then it would mean inflation for decades before going into deflation.
Slow or fast doesnt matter.
Most cryptocurrencies are deflationary to mimic gold rather than fiat. Bitcoin is highly deflationary on the long term.
rhb_3000
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Wow good analysis!
ripcurldog
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Hi, can you please explain the units of your chart (what is the high for XRP, and the low for XRP?
fineregex
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having increased by 3500% in a few weeks and approaching market cap value higher than the SWIFT's company value. So a long cant fundamentally be any attractive. Even VISA's market cap is no more 10 times more anymore.
ripcurldog
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@fineregex, Yes, but don't forget that XRP is a valuable currency that you can use to trade for other valuable currencies (BTC, ETH, etc.), like any other crypto out there. Can you put an actual value on any of these cryptos, Ethereum, bitcoin? Bitcoin has a valuation of anywhere between $1800 and I've heard as high as a million dollars at some point in the future, and all bitcoin is, is a currency. SO why can't XRP go much, much higher than Swift. I read an article yesterday where one of the banks working with Ripple had released an App that they were allowing staff to beta test (the article was back in May 2016). The App basically does exactly what 'paypal' does, but with instant transfers using XRP (with the end result being fiat). My point being, what is every bank that uses Ripples service, releases a similar App for their customers. XRP could then become much more valuable than even Bitcoin ever could (price adjusted obviously for XRP supply ).
fineregex
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@ripcurldog, it's not just ripple. Many are working on such. Obviously right now it is a pump & dump scheme and how are you not guilty of advocating it if you cant come up with a point why it must cost several times more than x weeks ago. Thanks
fineregex
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@fineregex, Rationally Ripple Labs should suggest to release some extra coins these days, contrary to the lock-up rumors/fake news
@ripcurldog, @fineregex, This isn't a pump and dump scheme. P&D scheme is a coin taking a + ~100% increase and then be dumped right away to near his previous price.
Right now, this is just a exponential growth.
As i stated, Low price means more volatility and that's something they don't want.
I could get more in details on why and where i think the price will be in some times but people will probably just call me insane. So i just do TA and not suggesting to hold forever. Sell when you think it is right. If you jumped on the boat when i called it, my prediction of a + ~5000 sat is right on point, hope you made some $$ on it.
And we all don't really like banks, but those are essential and need to evolve. Fast transactions is what we need, this will help a lot the banking system.
Have a good day.
fineregex
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@anyskill 5000% yes exponential/vertical up not sustainable. "growth" is growth per time. The right word would be hysteria. Not a lot changed. Very clear words about lock up could double the price - at most. thats it. Nothing changed Ripple is the same. And most people who know about it are the same almost.
And then it would mean inflation for decades before going into deflation.
Slow or fast doesnt matter.
Most cryptocurrencies are deflationary to mimic gold rather than fiat. Bitcoin is highly deflationary on the long term.