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Molten

Charting the course of XRP

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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

Edited by Molten

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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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Two scenarios as I see it:

1)  This is bad.  I don't think that's likely given the overall trend, but if the trend irreversibly breaks down, that would be bad.

2)  Wyckoff spring before a big move?  Looks very much like it to me. 

I guess there could be a #3, that the channel never mattered and breaking it doesn't result in any big moves, but I don't think that's likely.

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pT6iZAox

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14 minutes ago, Molten said:

2)  Wyckoff spring before a big move?  Looks very much like it to me. 

 

But most of the market is down even more than XRP. If it was a spring wouldn't it be a huge spike down, and not what appears to be the entire market going lower?

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17 minutes ago, baobeiiiii said:

But most of the market is down even more than XRP. If it was a spring wouldn't it be a huge spike down, and not what appears to be the entire market going lower?

Possibly but if the buyers are there at these prices, we should see a nice bounce.  If not, then it doesn't really matter why, it's not good.

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