So a lot of coins are pumping right now. IOTA 15x increase in USD value since early november. And Ripple? Doing absolutely nothing. Sleeping. Dead.
So noobs are like: "Damn, look at all those shiny coins pumping, and ripple is dead. I have to sell ripple for these other cool coins!!!"
That's how whales play them, and what they basically do, is coin-chasing. Leaving a supposedly dead altcoin, for another one. And then another one. And the next one.
If you wanna make profit in crypto, you have to be insanely patient. Buy coins that are supposedly dead, and will supposedly fall to zero.
Sell coins that are hyped and are pumping.
It is more difficult than it sounds bceause your emotions tell you that you are missing out on gains. But only the disciplined mind will be rewarded in crypto.
So what does this have to do with ripple?
Well, ripple is sleeping since May this year and is forming a huge bullish pennant. A classic example of an asset that is "sleeping" and preparing for the next move.
Many of the top alts, like ETH, ripple, LTC to some degree, have been sleeping. But they will start. And when they do, you will not believe your eyes. When they will start is impossible to tell, however, I think sometime in the coming weeks. I expect the btc top in January, February at the latest. Normally LTC and ripple spike together with BTC. So it is always good to put the gains you made with other coins into sleeping/dead coins.
And here, ripple seems super attractive to me at the moment. Risk/reward ratio is excellent.
However, this is only my opinion, and I do not guarantee that it will play out like this.
So... given the current market, are you adjusting support trend line? You think it'll hold around $0.205?
SebastianofMoon
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@cyberholz, It might spike shortly below 0.205, maybe 0.19, but as long as the spike is short, it's still ok. But I think the support will hold. And XRP/BTC ratio is sow insanely low and oversold on all timeframes (just like LTC, ETH and the other top altcoins), that I don't thinkt it will drop further in USD terms.
VitalTiger
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I heard something along the lines that it was very easy and preferred for the banks to use their own coin/token to make transactions as opposed to ripple... as it's more secure/unique but utilizing the same concept as ripple - but thus taking away from the XRP share... not sure how true and fairly vague I know... but wonder... I've had ripple since march/april of this year though... (did buy at a good time :))
VitalTiger
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I heard something along the lines that it was very easy and preferred for the banks to use their own coin/token to make transactions as opposed to ripple... as it's more secure/unique but utilizing the same concept as ripple - but thus taking away from the XRP share... not sure how true and fairly vague I know... but wonder... I've had ripple since march/april of this year though... (did buy at a good time :))
VitalTiger
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I heard something along the lines that it was very easy and preferred for the banks to use their own coin/token to make transactions as opposed to ripple... as it's more secure/unique but utilizing the same concept as ripple - but thus taking away from the XRP share... not sure how true and fairly vague I know... but wonder... I've had ripple since march/april of this year though... (did buy at a good time :))
SebastianofMoon
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@VitalTiger, Banks wouldnt even have to use ripple. Ripple will pump because this is a crazy bullmarket, driven by bitcoins insane price growth. Altcoins tend to follow in a swift and sudden move, that comes out of nowhere. I know that from my own experience, seen it many times. Altcoins have no real life of their own, the get pumped when bitcoin grows a lot, and they almost die when bitcoin is in bearmarket.
bkv1182
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Not sure what ripple will do short term, hope it does great. But definitely great advice to buy when others are panicking, that's how the top traders make bank! I have no doubt ripple will have it's big day within the next few months. People need to have more patience with this one because it depends on actual bank implementation for the big moves. When the news breaks that banks are starting to use XRP it will shoot up. There is good reason to believe this will be happening soon.
SebastianofMoon
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@bkv1182, Yes agreed. That, and TA also suggests a rise until February 2018 at the latest.
bkv1182
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@FlaviusTodorius67, I don't really fully understand Stoch RSI, what do you look for on this?
SebastianofMoon
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@bkv1182, If stoch RSI is below 20 on multiple timeframes, daily, 3 day, weekly, both in USD and BTC pairs, it is extremely oversold. That is currently the case here. That, together with this bullish pennant, yields a pretty high probability for an upwards move.