Hello, Trading View,
I know allot of the XLM fans are not going to like this post. But I just wanted to give some credit to ripples competition. It does have Skrill on there list of affiliates. Although, sense it was not the first of its kind. It is too far behind XRP to match it's growth potential. Sense the affiliates of ripple should have no reason to switch to XLM. Unless somthing goes horribly wrong with ripple. Which I don't forsee that happening.
As a result of that, it leads me to believe. That the demand for both XRP and XLM is a little inflated. Because the banks are the only ones who have a use for this coin. Sense more banks are being added to the networks. It will eventually go up. But right now both XRP and XLM are both over bought. Filled with investors who are just hoddling with it. Until the banks drive the supply down.
Sense there is no way to really trade short with this coin. Because most trading platforms don't want to lend it. In my opinion you should just sell it. Because if it breaks that resistance line, it will just continue down to the next one.
Thanks,
StopLoss123
I know allot of the XLM fans are not going to like this post. But I just wanted to give some credit to ripples competition. It does have Skrill on there list of affiliates. Although, sense it was not the first of its kind. It is too far behind XRP to match it's growth potential. Sense the affiliates of ripple should have no reason to switch to XLM. Unless somthing goes horribly wrong with ripple. Which I don't forsee that happening.
As a result of that, it leads me to believe. That the demand for both XRP and XLM is a little inflated. Because the banks are the only ones who have a use for this coin. Sense more banks are being added to the networks. It will eventually go up. But right now both XRP and XLM are both over bought. Filled with investors who are just hoddling with it. Until the banks drive the supply down.
Sense there is no way to really trade short with this coin. Because most trading platforms don't want to lend it. In my opinion you should just sell it. Because if it breaks that resistance line, it will just continue down to the next one.
Thanks,
StopLoss123