Simple - yet very powerful structure we have here in Ripple. After a massive impulse to the upside, the price is now into a correction developing a bullish pennant. Just keep an eye on a breakout above the correction and buy ripple. Stop-loss should be placed below the correction at around 0.620 and profit targets above Everest mountain :) In case you are afraid of heights, aiming for the 1.618 fib extension of the previous impulse at around 1.250 is a nice idea.
it's consolidating and looks like a beast. XRP has mentioned they want to employ Market Makers in the future and I suspect they already have some on board. The price the last few months was a beautiful corridor and was held very tightly. For the success of XRP a stable and ever slowly growing price should signal all is healthy. That being said I do believe if they have MM's they will need to let price discovery play out during all of this new money buying pressure. I think conservatively $2 is imminent. They still have two huge announcements in q4 which are "house hold names." I believe despite the decentralized die hards that XRP is rapidly positioning itself to become THE payments settlement solution for our coming blockchain future.
Fxprotrader
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@wpgminer, Great comment..! Thanks a ton for sharing!
vsasolutions
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@wpgminer, I like XRP because it is a solution to a current problem. I think 2018 is going to be a good year for XRP. Not sure how far it can go but I think $5 by end of 2018 is not out of question. My goal after this break out is to work the 5% to 10% cycles to try and build coins but at the end of the day to HODL. Thanks to @Fxprotrader for hitting the breakout on the money. I am learning a lot from you.
Chandi49
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What are your thoughts on this it got quite the beating - i think this level is perfect to buy as i didn't touch at the earlier levels as i was abit skeptical after the run up.
Fxprotrader
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@Chandi49, The pattern looks like is struggling to work out. Most likely we my see a bigger correction to lower levels. Personally I see nothing at the moment. I will way for structure to develop and see where we can get long.
bricoleurs
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feels too risky to me, the On Balance Volume just dropped 20% today morning..., but i might be wrong here, i missed the previous XRP rally and seems to me that you guys missed it too (based on your advise on 11 of Dec), yet past performance is not indicative of future results, who knows, we all miss big rallies.
Fxprotrader
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@bricoleurs, Hi, the 11th December idea you mention was a short term plan to catch a potential correction to the down, which was unsuccesful. My main trade idea was posted a little earlier where I described the upcoming rally. It's now breaking above the correction which is a clearbuy for me.. Thank you for sahring!
bricoleurs
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@Fxprotrader, thx! one last clarification question: how do you know whether it is breaking or just testing as of now? thx
Fxprotrader
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@bricoleurs, I personally watch for weakness of the downmove while correcting. Then any bar close above correction is the one I go with.. This one looks solid..!