Near term outlook

[automatic 2,350]

BTC found support at ~8250 and has established what seems to be a decent beachhead at this price.  Upside resistance is moderate, and the current push could go to upper 9's or above;  this is a positive.  XRP on the other hand looks pretty good for a push up to ~$1 range.  Recent downturn has thinned out the herd of sellers, and at this point the upside resistance seems minimal.  A quick push above .72 and we could be off to the races. 

Much is riding on the outcome of G20 crypto discussions today and tomorrow.   If positive news comes out, I think that we have real chances of near-term recovery.  Remain careful if this scenario does play out as the price could drop equally as fast unless buyers begin to line up.  Thin trading in either direction = rapid price swings in the direction of least resistance.  Additionally, in absence of diverse crypto pairings, any gains will run the risk of being washed out back into BTC.

Let's see how it plays out.  Fingers crossed!

 

[RegalChicken 25,065]

10 minutes ago, automatic said:

  Additionally, in absence of diverse crypto pairings, any gains will run the risk of being washed out back into BTC

sadly true. STILL i cannot buy XRP without first buying BTC or ETH or LTC.

[Coretex 1,392]

12 minutes ago, RegalChicken said:

sadly true. STILL i cannot buy XRP without first buying BTC or ETH or LTC.

You cannot use Kraken or Bitstamp?

[xrp-pat 1,346]

I've just got onto Bitstamp. EUR -> XRP. Bliss!

[Guest]

2 minutes ago, xrp-pat said:

I've just got onto Bitstamp. EUR -> XRP. Bliss!

Really? Thanks fr that info. 

[djdhrubs 2,419]

50 minutes ago, automatic said:

BTC found support at ~8250 and has established what seems to be a decent beachhead at this price.  Upside resistance is moderate, and the current push could go to upper 9's or above;  this is a positive.  XRP on the other hand looks pretty good for a push up to ~$1 range.  Recent downturn has thinned out the herd of sellers, and at this point the upside resistance seems minimal.  A quick push above .72 and we could be off to the races. 

Much is riding on the outcome of G20 crypto discussions today and tomorrow.   If positive news comes out, I think that we have real chances of near-term recovery.  Remain careful if this scenario does play out as the price could drop equally as fast unless buyers begin to line up.  Thin trading in either direction = rapid price swings in the direction of least resistance.  Additionally, in absence of diverse crypto pairings, any gains will run the risk of being washed out back into BTC.

Let's see how it plays out.  Fingers crossed!

 

Yeah I'm a bit disappointed/ wary that the breakout a couple of hours ago hasn't gone further north. We kinda need to clear 0.686 with a bit of conviction. I have been focusing on the technicals so this whole G20 summit stuff has kinda passed me by. I know it's not necessarily the near term outlook but what price point would you look to clear to be confident we are out of the overall bear market?

[xrp_moonjet 1,116]

1 hour ago, Coretex said:

You cannot use Kraken or Bitstamp?

Bitstamp is rejecting using Visa debit card for XRP purchases.. I am still waiting for my MasterCard debit card..

[automatic 2,350]

1 hour ago, djdhrubs said:

We kinda need to clear 0.686 with a bit of conviction

Give it a bit longer;  if we can clear 0.x82 vs BTC then it should trigger stop losses for xrp/btc shorting crowd, which should give xrp a nice little push.

1 hour ago, djdhrubs said:

I know it's not necessarily the near term outlook but what price point would you look to clear to be confident we are out of the overall bear market?

I honestly haven't given it much thought;  my perspective is that xrp will mop the floor with other cryptos in the long term, but in the short term the market will chase the easy bucks.  So, most of my time as of lately has been spent on looking for quick opportunities to increase the size of my xrp stack used for LT holding until xrp does its thing (probably in under 12 months from now).

Completely uneducated guess - I would be looking for duration rather than a particular price before calling an end to the bear market.  If the overall market can show some sustained growth for let's say six weeks and the overall market cap finds its way back to 600s, then it would probably be safe to say that we are out of the bear market.  In other words, bear market is less about the price and more about the sentiment;  the sentiment would have to turn positive and stay positive (thus the 600bil mc and six weeks of growth) in order for bear market to come to an end.

 

 

Edited March 19, 2018 by automatic

[automatic 2,350]

2 hours ago, RegalChicken said:

sadly true. STILL i cannot buy XRP without first buying BTC or ETH or LTC.

Yeah, that is true... but at least it gives us a hedge for the time being as xrp profits can be moved into btc and somewhat protected from erosion.  That will probably not hold true forever, but it holds true at the moment.

[Guest]

2 hours ago, xrp-pat said:

I've just got onto Bitstamp. EUR -> XRP. Bliss!

I have never bought with anything other than fiat at bitstamp since last October, never bought btc or eth or ltc to buy xrp luckily 

[mariusthegreat 250]

3 hours ago, RegalChicken said:

sadly true. STILL i cannot buy XRP without first buying BTC or ETH or LTC.

Try Kraken, it’s really good  

[Lucien 640]

37 minutes ago, mariusthegreat said:

Try Kraken, it’s really good  

Kraken isn’t available in some states.

[RegalChicken 25,065]

4 hours ago, Coretex said:

You cannot use Kraken or Bitstamp?

https://www.geekwire.com/2017/new-bitcoin-regulations-shake-washington-states-cryptocurrency-industry/

[M00N 236]

I haven't been on in a while, but I will say that due to the continuing decrease in value of cryptocurrencies, you don't hear as many people being frantic trying to get in. When XRP first hit mainstream media sources and started gaining ground above 1$ and kept skyrocketing, everyone and their mother wanted to buy in. This FOMO kept moving the price up until we were at 3$ +. The FUD has been overbearing since January. Especially with the R3 lawsuit also coming into play. Now, that being said Ripple has an incredible team and can overcome all the FUD. But in order for XRP to increase value above 3$ again, we need everyone and their mother wanting to buy in. That spark needs to be there again, and there needs to be more positive than negative media influence on the products that Ripple has to offer. I believe it can happen, we're just realistically a car that has run out of gas at the moment and need someone to come and refuel the tank.

[Guest]

1 hour ago, mariusthegreat said:

Try Kraken, it’s really good  

I used to use Kraken, but I had a HORRIBLE time trying to trade (Error messages non stop)  both on the buy and sell side.

I know they have done a lot of "upgrades" ..how has it been there lately?  When XRP runs up quick I like to sell off a little and wait for a pull back to increase my bag, but recently I don't like the idea of selling xrp and parking into USDT on Bittrex, so I've been waiting for Kraken to fix themselves.