Charting the course of XRP

[baobeiiiii]

This thread deserves to take off same as Epic Pennant one. Thanks Molten.

[baobeiiiii]

Here we go again...

[Guest]

4 minutes ago, baobeiiiii said:

Here we go again...

I don't think so.  Let's look at the 15 min XRPUSD.  We were way out of the bands (oversold) and then corrected back above the moving average, now oscillating back down again.  It's going to bounce around some.  Volume is up during this correction and I think the buying pressure is there to sustain us.  But remember, I do think that we will fall back down to $0.246ish one more time and then hopefully that will be a double bottom and back up to more sane levels.

[baobeiiiii]

I picked a hell of a night to skip a glass of wine.

[Guest]

Just now, baobeiiiii said:

I picked a hell of a night to skip a glass of wine.

Haha, bottom's up buddy.  It's going to be a rocky few days most likely.  I think it was said somewhere above, but no one will be able to tell you that you didn't earn your return (if indeed there is a positive return to brag about).

[Archbob]

XRP will test 25 cents support soon, if it breaks 25, then who knows where the bottom will be.

[Guest]

One way to look at things.  Possibly.  Or not....

[invest2lose]

@molten, do you think there's a ton of money on the sidelines waiting for the bottom before jumping in?

[Guest]

10 minutes ago, invest2lose said:

@molten, do you think there's a ton of money on the sidelines waiting for the bottom before jumping in?

Not necessarily.  What I do believe is that there is a fair amount of money amongst current crypto investors and if there is a relief rally, followed by a massive short squeeze resulting in a price spike, that gets peoples attention.  Once the price begins to rise, FOMO sets in and then new money does come in and that is how a rally is built.  We've seen it all before with BTC and with XRP a couple of times in 2017. 

Same caveats as always, I am not predicting anything, but I can see a run from here.  Let's wait for the double bottom and see what the reaction is.  Look at the volume these past few hours... there are buyers out there.

[Guest]

Case in point: look at BTC investors from as little as 4-6 months ago.  They've tripled up, even now with the price down!  If you recall the sentiment when the BTC price was at $3500, it was quite bad.

This is what high risk and high reward investing looks like.  I think it was @dr_ed who posted a very apt quote from someone who said that their best investment was their loneliest one.  Feels kind of lonely around here, no?

[invest2lose]

9 minutes ago, Molten said:

Not necessarily.  What I do believe is that there is a fair amount of money amongst current crypto investors and if there is a relief rally, followed by a massive short squeeze resulting in a price spike, that gets peoples attention.  Once the price begins to rise, FOMO sets in and then new money does come in and that is how a rally is built.  We've seen it all before with BTC and with XRP a couple of times in 2017. 

Same caveats as always, I am not predicting anything, but I can see a run from here.  Let's wait for the double bottom and see what the reaction is.  Look at the volume these past few hours... there are buyers out there.

the spike from 30 cents to 45 from the mg announcement didn't trigger any fomo event. do we need something much larger to get retail excited again?

[Raiden]

At this point im even glad to see something happen, even if its going down. 

 

I have been following the XRP charts daily since september 2017 , and its mind numbingly boring these last months. 

[CarloPonzi]

1 hour ago, baobeiiiii said:

So shorts are wayyy up? Isn't that a bad omen for us longs?

Take a look at the longs chart back in April and see what happened next.

[Guest]

20 minutes ago, invest2lose said:

the spike from 30 cents to 45 from the mg announcement didn't trigger any fomo event. do we need something much larger to get retail excited again?

@XRPto50dollars said it best in a recent post: confidence in the whole thing is down.  Right now, people don't feel good about XRP.  Look at the sentiment around you!  It's a ponzi, they're dumping it on us, it's going to 10 cents... it is everywhere.  The thing about that, though, is that you don't tend to make a lot of money when you buy something that everybody is ecstatic about.  They're ecstatic because the price already went up.  Does that mean that all things that have been beaten down in price are excellent investments?  Absolutely not - that's when you look at fundamentals.  Fundamentals here are pretty good, I think, and the future looks bright,  Will that translate into a higher XRP price?  I have no idea, but I am betting so.

Now, to your question of what needs to happen.  I think we are years away from utility-based price appreciation.  So, if we are to see any positive returns in the short term, it's likely going to be from speculation.  I think the most plausible scenario for this would be that BTC goes up.  It goes up, it eclipses its ATH and keeps going.  This will bring attention to the space.  And when people start to think maybe all the gains have been had in BTC, they start to look around... and they find XRP.  This is what happened in 2017 and I predict that it will happen again.  Right now, like it or not, we are inexorably tied to BTC and we should all be cheering it on.  Because without BTC to buoy XRP and the other alts, it'll be a long wait until utility kicks in for us.

Just my thoughts.

[Guest]

3 minutes ago, CarloPonzi said:

Take a look at the longs chart back in April and see what happened next.

I'm sorry, I don't see much there.  Feel free to post a chart to elaborate.