Many have asked me about Ripple. The chart shows that it is currently overbought on some hype, but the 50 MA has turned up indicating a trend is beginning, but I don't like the stochastic nor that it is above the Bollinger Bands. The MACD seems to be looking to turn as well.
This is a classic chart that needs a pullback for me to feel comfortable.
if I were to choose to invest, I would only place a wager for it long term, strictly funds I could afford to lose, and wait for it to rocket as Blockchain technology gains more of a foothold. I would expect that a long term hold of 5-8 years would be wise.....A set it and forget it kind of play.
I think the banks will want their own coin and this is theirs. I don't think banks will become extinct anytime soon, so this may also be their answer to Bitcoin.
I'll keep an eye on it mainly because I think that Coinbase will add this one soon, as they are adding coins in January and this one seems to fit the bill. I also think it is a counterplay to Bitcoin because it's the banks coin and bitcoin is anti-bank.
This is severely undervalued in my opinion based on the serious architecture of the company (ability to transact up to 70,000 transactions a second which rivals VISA), and major banks involved, along with Sergey Brin (Google Founder) and Andressen Horowitz as major investors in this company. My thought is for the average investor that has not yet begun to understand Crypto investing (and their are many), it's very difficult to buy. I'm sure after all of news coming out the last few weeks about Crypto Futures coming on the market, Bloomberg Terminal now adding this .72 cent company, and a possibly Coinbase adding it to its site, there is a lot of pent up demand from those who can't figure out how to even buy it. From a technical perspective, the charts are the charts however this industry is setting the stage for something that has not been seen in a long time. It's a definite long term play though, meaning 6 months...lol
Haceru
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Love the way you looked at the chart, same way I am (gives me confidence I am not alone on this :) ) Thanks
Doc-al-Citadel
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Nice analysis but...
hyperbit
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"also think it is a counterplay to Bitcoin 7.22% because it's the banks coin and bitcoin 7.22% is anti-bank"