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Charting the course of XRP


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Do you get the same feeling when you get in line at the grocery store and come to the realization that you picked the slowest line, so you move to the other line. Then they open up a new checkout lane

For those who do not enjoy the various charts and chartists on this thread please find somewhere else on XRPChat to enjoy yourselves.  There is no need to disaparage what others are discussing.  In ch

Starting the weekend with selling all my XRP positions. XRP has been the biggest wet blanket in all my years of trading. Never again. $75K out the window. Take care gentlemen.

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Things seem to have settled down a bit, we will see if the correction is over.  I would like to see some volume with a sharper recovery to convince me that the cycle low is in.  Looking at the charts for BTC and ETH, this was a completely classic retest of resistance turned support that is quite bullish as it stands right now. 

XRP, however, continues to lag behind and you can see it clearly on the weekly charts.  BTC and ETH broke through their resistances and rallied above before coming back down to retest; XRP has yet to break through its resistance at $0.32.  Once it does, I think it would be reasonable to expect a rally that outpaces the other majors as it plays catch up.  I will look to enter at that point.

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Edited by Master_of_Brain
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6 hours ago, Elysium2030 said:

I checked my wallet today. Still not a Milionaire. 

Dafuck is XRP doin? 

Brad betrayed me:D

 

Commooon do something. If this Coin didn du nuffin until 2022, ima out

2021 is my exit year. What ever the price I will get most of my funds out of Crypto all together some time that year.(which ain't that far away)

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1 hour ago, WarChest said:

2021 is my exit year. What ever the price I will get most of my funds out of Crypto all together some time that year.(which ain't that far away)

did u win or lose ? at current prices

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Oh wait they’re just pulling back the slingshot right gize? It’ll catapult any moment amirite? All these chart gurus know dick and make claims after the fact. Stop with the pixie dust asshat “pro” candle reading and let go already. Zerpple hasn’t gone anywhere and the retracted claims of banks signing on and odl blah blah blah is evident. 

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4 hours ago, WarChest said:

2021 is my exit year. What ever the price I will get most of my funds out of Crypto all together some time that year.(which ain't that far away)

I think if Ripple and other ecosystem projects aren’t able to drive value for XRP, then I don’t blame you. XRP had a one shot in 2017 and has done poorly ever since. Ever since then, XRP has short bursts where it outperforms the market but then it draws down to worst than it started before the burst.

Edited by AlejoMoreno
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11 hours ago, Elysium2030 said:

I checked my wallet today. Still not a Milionaire. 

Dafuck is XRP doin? 

Brad betrayed me:D

 

Commooon do something. If this Coin didn du nuffin until 2022, ima out

Tell me tell me...

 

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31 minutes ago, AlejoMoreno said:

I think if Ripple and other ecosystem projects aren’t able to drive value for XRP, then I don’t blame you. XRP had a one shot in 2017 and has done poorly ever since. Ever since then, XRP has short bursts where it outperforms the market but then it draws down to worst than it started before the burst.

To be honest @AlejoMoreno , it was always my exit strategy to wait until 2021 and see where this gamble goes. I am soon retirement age, I still believe in XRP, but my circumstances mean that I would be wasting my time hodling longer than 1 more year. That isn’t to say that others with more youth on their side, won’t hit a nice jackpot. Good luck to them.

 

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Guest Voice from the Past

You can also look at the idea of using a cryptocurrency as a crossing currency. I have worked in the FX area. I have worked on the operational side and the technology side. You have the concept of crossing currency to deal with that scenario where there is a lack of liquidity. The common crossing currency is the US dollar. The dollar as a crossing currency has a lot of advantages. A large proportion of world trade is denominated in dollars, financing, et cetera, so it has liquidity against every currency and is relatively stable. 

Putting a cryptocurrency into there—and the Ripple is a cryptocurrency that can move dramatically, even in three seconds—is highly problematic. Also, even if you are in the scenario for, I think, one of the new products from Ripple, you need someone to provide the liquidity to be willing to trade to change into and out of Ripple. Holding Ripple, a currency that has seen its price drop 80% and then back up 100% in the course of the last two months, is just not credible.

Putting cryptocurrencies into the financial sector is a huge source of risk. What happens if the liquidity dries up? In the financial crisis we saw that even dollar liquidity can dry up. The Federal Reserve provided swap facilities to all the main central banks to do that. Who is going to do that if we get payments or currency flows using the Ripple system? Who is going to provide liquidity in that scenario? 

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2 hours ago, Guest Voice from the Past said:

Who is going to provide liquidity in that scenario? 

It's my understanding, the solution requires a successful establishment and maturing of a massive network pool of arbitrage market makers. 

This is a bit of a complex topic :) 

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