Ripple is currently primed and ready to go, assuming BTC has bottomed out we can expect range trading. I'm expecting some serious Ripple growth over the coming days.
Key Notes:
1) If BTC continues to breakdown, we should see $0.41-0.42 cent ripple. 2) If BTC established a range trading area, I'm expecting ripple to make its way back up towards $1.13
There's a very good chance we've bottomed out, and todays daily candle close should confirm that. Conservative traders should wait for the daily, aggressive traders could enter at this time.
Additionally, while we've all heard the rumors of the meeting today @ 10am, I wouldn't be surprised if Ripple is mentioned in some way shape or form, and if so, expect a tremendous surge.
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Symmetrical triangle in play, as well as a possible descending triangle. Targets are listed out on the chart, we're oversold on the daily, and symmetrical triangles have 64% chance to break upwards. If we break the 10301 line then the descending triangle is invalidated and we should begin a new uptrend.
Watch closely in the next few hours, for a break up, or down, targets of interest are listed out on the chart.
Good luck and trade safe!
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Not much has changed, but for those looking for an update:
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Also could catch bottom of falling wedge @ 0.00005826
Trade ist aktiv
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Take profits @ .99 and 1.19 if 1.00 range breaks.
Possibly run up to 1.72 is possible based on falling wedge.
Trade geschlossen: Ziel wurde erreicht
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Trade ist aktiv
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Looking for a break upwards, targets of interest highlighted. Be careful of a breakdown of the triangle as that will be your queue to exit, best of luck!
@samsun, I watched the hearing. I don’t remember hearing it specifically mentioned though the overall sentiment of the hearing seemed to suggest regulations in exchanges and ICOs are inevitable but that crypto currencies and block chain were promising developments.
ant187
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@samsun, they mentioned tremendous applications to the financial industry, and that if the growth continues well be looking at a 20 trillion dollar market in 2 years, overall it was insanely bullish. And basically the status quo is remaining for the time being