XRP Bullish Scenario

Its just a matter of time the price of XRP starts resurrecting upward. There is a possible bullish bat formation with possible targets in the range of $0.68 and $0.74.

There has been strong support at the $0.30 area with the price touching it several times. XRP has shown that even if BTC goes down, XRP stays loyal to the $0.30 area.

Personally, I think that XRP has been overlooked, everybody is very focused on the price of BTC, it's just a matter of time that the money that has been flowing into BTC starts pouring on the alts.

XRP is probably the alt that is closest to go mainstream in the institutional channels, recently they announced a partnership with Moneygram to use their xRapid technology to transfer money around the world.

Personally, XRP is now way overlooked and undervalued given the fact that if XRP can go mainstream and financial institutions transfer trillions and trillion of dollars a day and ripple market cap is just 13 billion, just imagine the potential.

The remittance market in which Moneygram participates, is 600 billion USD a year transferred, Moneygram competitors will jump in too. This has not been reflected in the price because that partnership has just occurred! just imagine the volume once people find out that is more convenient to do it that way.

It just can't go down anymore, just UP.

This is just an opinion not financial advice.

Cheers!

註釋

If XRP breaks the $0.25 level it will invalidate the pattern.

註釋

A shark pattern may be in the works in this one.
This down wave looks like it will be a failed wave.
An updated analysis will be posted.

註釋

It played out but with a massive fake. That's life.