Recently XRP announced on his tweet "3 of the top 5 global money transfer companies plan to use XRP in payment flows in 2018. Even more in the pipeline." And discussed more deeply about the agreement with Moneygram.
Those events happened during the great fall from all time high to -50% in a couple of days. (Matching 1.59 barrier) This Since then, the price has recover a little, which can be logic according to the recent price of ETH / BTC that force a very high fee for transaction for those coins who is clearly one of the big difference for XRP. (talking about 0.0004$ for Ripple on 22 December against 0.96$ for ETH and 28.23$ for BTC and now that gap is even bigger as ETH a surpassed BTC in terms of fees for rapid payment).
I would like to add that this had drawn the attention of the media. According to Forbes / Bloomber / NYTimes /FT and many others, they see XRP as a threat for BTC as the leader of crypto. One could agree with that or not...
News apart, this match a clear Elliott Wave trend. The rebound might announce a new rising wave. However, I did not drawn it but the pattern failed to represent a Head / Shoulder pattern. Also pay attention to the current low volumes. Hodl is the key during those trouble times and volume will expend a the first sign of clarification.
In conclusion, I would say that this rebound is due to good news and may not last in the long term as the global market need to fix the major uncertainties (South Korea, Taxes, Legal, Overwhelmed exchange, etc.)
Analysis done by The Foil
13.01.2018 16:25 CET
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Disclaimer: The content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise.
I write for analyzing, learning & discussing general and generic information related to investments and strategies. No content on the site constitutes - or should be understood as constituting - a recommendation to enter in any securities transactions or to engage in any of the investment strategies presented in our site content. I do not provide personalized recommendations or views as to whether a stock or investment approach is suited to the financial needs of a specific individual.
Those events happened during the great fall from all time high to -50% in a couple of days. (Matching 1.59 barrier) This Since then, the price has recover a little, which can be logic according to the recent price of ETH / BTC that force a very high fee for transaction for those coins who is clearly one of the big difference for XRP. (talking about 0.0004$ for Ripple on 22 December against 0.96$ for ETH and 28.23$ for BTC and now that gap is even bigger as ETH a surpassed BTC in terms of fees for rapid payment).
I would like to add that this had drawn the attention of the media. According to Forbes / Bloomber / NYTimes /FT and many others, they see XRP as a threat for BTC as the leader of crypto. One could agree with that or not...
News apart, this match a clear Elliott Wave trend. The rebound might announce a new rising wave. However, I did not drawn it but the pattern failed to represent a Head / Shoulder pattern. Also pay attention to the current low volumes. Hodl is the key during those trouble times and volume will expend a the first sign of clarification.
In conclusion, I would say that this rebound is due to good news and may not last in the long term as the global market need to fix the major uncertainties (South Korea, Taxes, Legal, Overwhelmed exchange, etc.)
Analysis done by The Foil
13.01.2018 16:25 CET
----
Disclaimer: The content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise.
I write for analyzing, learning & discussing general and generic information related to investments and strategies. No content on the site constitutes - or should be understood as constituting - a recommendation to enter in any securities transactions or to engage in any of the investment strategies presented in our site content. I do not provide personalized recommendations or views as to whether a stock or investment approach is suited to the financial needs of a specific individual.