Today was or is a non-event. This regression Trend Channel continues to show #XRP is still on a downward trend on the daily. Albeit-On the edge. All Daily indicators show up 1) Bollinger band is a middle (9day) and holding 2) MACD & BB% continues rising 3) RSI is up 4) PSAR indicates Up These five indicators are strong but let'ss look deeper. 1) Aroon-Needs to strengthen and cross-See red Circle. 2) Chaikin Oscillator could strengthen 3) Momentum is rising
4) The Elliot Wave Oscillator is still red but moving to the upside 5) Pivot Points for the last pulse have not fired yet....but soon 6) Stochastic RSI is at near the top....I use 95-5 for settings. 7) We are above the .786 fib. For those that hit and bought the .886-Good Job. 8) Any .886 buy is good for a long position Okay the non-technical stuff for XRP 1) #XRP is not a cryptocurrency-The CEO States that himself. See #BradGarlinghouse Yahoo Finance discussion and video. 2) It is a global cross-border blockchain token that expedites currency transactions in any fiat. 3)X Rapid is the system that uses the tokens. 4) Globally, it is estimated that financial institutions must have 20 trillion USD set aside to manage the existing global fiat transfers....That just sits there as collateral! 5) XRP tokens are designed to facilitate transfers in seconds versus days. By doing so. it allows those institutions to relieve themselves of fiat management and holdings 6) Thus, #XRP has a market potential of 20 trillion dollars. That will take time! 7) The Bank of London is using X-Current platforms now but still must rely upon fiat management. 7a) According to Garlinghouse, another Central Bank is reviewing. The FED and IMF have reviewed the #XRP systems. 8) Nearly one hundred global financial organizations are using #XCurrents and several have transitioned to #XRapid because they see the value in fiat management cost reductions. 9) Therefore, #XRP will increase in value and demand due to larger settlements in volume over time. 10) #XRP is lumped in with other coins and tokens that affect its price because it is misunderstood. 11) #XRP circulation is controlled by smart contracts and releases will occur in the future based upon demand. 12) At present,#XRP is the only system in the world for the global financial cross-border settlements. 13) Others may have or develop a system but an enormous cost both in tech and energy. 15) Lastly, simple math indicates the token value with all in and max usage to be in excess of $200 per unit. 16) Considering the fiats lost 242 trillion in value the last 5 days, #XRP could potentially reduce risk in the global fiat currency system. Ok the Finale All cryptocurrencies are digital assets that can be store of value and can be used for financial transactions. However, in order to realize the asset, it must be ultimately converted to fiat or some other highly recognized form of currency. #XRP is now recognized on nearly every continent of the planet. The #XCurrent system is becoming a serious #Ripple asset. The #XRapid (XRP) will naturally phase in once the global system sees the enormous cost savings and efficiency gained.
The #Ripple team is working well with regulated industries and should not face any issue regarding closure or censorship. Disclaimer, I own #Ripple, #BTC, and #Tron as a result of my own due diligence and experience. I am considering XVG but I have not completed by expert due diligence on that system.
This is not a recommendation to buy, sell or hold and is strictly for educational purposes. I am not a paid advertiser in any manner nor do I accept payment for any charts that I generate as information only.
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XRP is holding upper edge of Regression Trend. Very Narrow price Zone. The trend is still down-However, consolidation may be at hand.
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36 hours and the PSAR will enter the Consolidated Area regardless of price. This is an early indication that XRP will continue lower.
Very Good Ramon! It is solid I believe on my end as well! Great Chart!
The Wiz
gusccbb
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Excellent analysis in the long term. In the short term, you think that XRP could have another minimum test for just in March start with strengthening bullish trend. The volumes are very low at the moment. Thanks for sharing.
The rules of retracement and retest are applicable. It is possible to retest the low at .56 or lower. Everybody is waiting for the next push (institutional monies). Consolidation appears to be in the works. Low volume periods are great times to accumulate on the dips.
@ramonbenavides12, agreed it could go to .56 but the way XRP is behaving... I doubt it would go much lower than .87174
The Wiz
WizardOfRealms
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@gusccbb, Its' possible it could go to: .81174
I have a contingency in place for that.
But, I don't see it going any lower than that.
Matt3Franc3
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Great analysis! But like philrego said we are repeating the last year pattern. So IMO today it's like 24/07/2017 and it will go down. XRP needs also to reduce the weekly BB so we must wait a little longer for a big retrace.
ramonbenavides12
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@Matt3Franc3, Thanks Matt....Iooked at those historical values and it became obvious to me that the Ripple "psyche" is in play. Thanks again for your comments!
The Wiz