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Charting the course of XRP


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To be fair to @MQBhe made a nice comment a few pages ago and even posted a chart of his own over the weekend.  I think he is maybe coming around?

Anyway, let's all rejoice in the coming shattering of the $0.30 ceiling!

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6 minutes ago, Molten said:

To be fair to @MQBhe made a nice comment a few pages ago and even posted a chart of his own over the weekend.  I think he is maybe coming around?

Anyway, let's all rejoice in the coming shattering of the $0.30 ceiling!

Indeed. Let's praise someone with maybe 1 out of 100 nice comments😜

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10 minutes ago, Molten said:

To be fair to @MQBhe made a nice comment a few pages ago and even posted a chart of his own over the weekend.  I think he is maybe coming around?

Anyway, let's all rejoice in the coming shattering of the $0.30 ceiling!

@MQB Well done! Here, here! Rejoice all ye faithful! God Rest Ye Merry, Gentlemen! .......

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3 hours ago, Molten said:

By my observations, the more times a resistance/support is tested, the more likely it is to break.  And the stiffer a resistance is, the bigger the rally when it does break.

I remember before we had the big leg down to $0.22, nobody believed the support at $0.28 Would break because it had held so many times.  IMO that was what made it vulnerable... it had been tested so often and, indeed, it eventually broke (after a triangle break down).

If we keep tapping on $0.30, it will break.

It's coming! Slowly but surely we'll break upwards. Meanwhile, we continue pushing ever higher with XRP/MXN liquidity so upwards progress is definitely being made on one front. Checking this thread in conjunction with the liquidity tracker has become something of a daily ritual - love having this thread to keep the emotions in check. I've also noticed on https://xrpcharts.ripple.com/#/xrp-markets that Bitso 24 hour, 3 day, and 7 day liquidity have been consistently rising, with the almost all payments being XRP/MXN. 

image.thumb.png.8b8174456c76fc4791084f5e2ba772c6.png

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24 minutes ago, Mpolnet said:

It's coming! Slowly but surely we'll break upwards. Meanwhile, we continue pushing ever higher with XRP/MXN liquidity so upwards progress is definitely being made on one front. Checking this thread in conjunction with the liquidity tracker has become something of a daily ritual - love having this thread to keep the emotions in check. I've also noticed on https://xrpcharts.ripple.com/#/xrp-markets that Bitso 24 hour, 3 day, and 7 day liquidity have been consistently rising, with the almost all payments being XRP/MXN. 

image.thumb.png.8b8174456c76fc4791084f5e2ba772c6.png

This is worth a read if you are interested in the liquidity. https://xrpcommunity.blog/corridors-easy-difficult/

The extraordinary thing about the above graph is that now is usually the low point of the monthly cycle, but somehow we are posting higher and higher values every day.  One wonders if the values are going to go through the roof as the next payment cycle starts, or regress before starting.

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4 minutes ago, Julian_Williams said:

This is worth a read if you are interested in the liquidity. https://xrpcommunity.blog/corridors-easy-difficult/

The extraordinary thing about the above graph is that now is usually the low point of the monthly cycle, but somehow we are posting higher and higher values every day.  One wonders if the values are going to go through the roof as the next payment cycle starts, or regress before starting.

ramping up that liquidityyyyy, cant wait to see the price chart look like that haha

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5 minutes ago, Julian_Williams said:

This is worth a read if you are interested in the liquidity. https://xrpcommunity.blog/corridors-easy-difficult/

The extraordinary thing about the above graph is that now is usually the low point of the monthly cycle, but somehow we are posting higher and higher values every day.  One wonders if the values are going to go through the roof as the next payment cycle starts, or regress before starting.

I haven't seen that article but an interesting section that called my attention was "XRP loans". 

I find that interesting because if Ripple is loaning XRP to "replace" a nostro account. I wonder what the agreement of the loan is, in terms of payback, amount etc.

I'm wondering because that is another incentive Ripple has for XRP to continue to appreciate because offering an XRP loan would be a bad idea if price of XRP was continuing to go down. It also would be bad for a company to use XRP as a nostro account if the value was going down. You'd have to continue to true the account up with more and more XRP to be able to handle your fiat conversion needs.

Throwing this out there as another reason why the price of XRP going up is a win for everyone.

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32 minutes ago, Will_ said:

EPoFSGd1


XRP holding its ground on this BTC drop... nice to see!

Until it didn't.  The bottom of the channel is holding, however, around $0.29. 

This is what I am looking at going forward.  We have two potential ascending triangles: one has the upper support at the candles and one at the wicks ($0.302).  I expected better action today after breaking the triangle yesterday, but so far no luck.

I think I can say, rather definitively, that we will see some significant price action at the intersection of one or both of these triangles, which would coincide with Friday or Saturday.  I think the higher line is probably the more significant of the two, but the lower line has more touches. 

First things first, we need to respect the channel right now.

VOpFwRPb

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It happened!  XRPUSD crossed bullish on the weekly MACD.  This has been an eventuality for the past few weeks, but nice to finally see.  For those that don't remember or didn't see it before, this is significant because there have been very few instances of this in XRP's past and all have led to significant price increases.  Past performance doesn't guarantee future behavior but.... this is pretty spot on as a bullish indicator.

Now let's see some price appreciation!  Waiting... :shock:

9y9YK6fT

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