So im starting to hear a lot of bold price predictions for xrp in the wake of everyone anticipating a coinbase add. Adding the largest US-based exchange with an XRP/USD pair would be huge for this coin; there are few reliable ways to convert USD directly to XRP and should coinbase provide this, it could be huge for XRP.
Additionally, XRP has several hopeful other things going for it right now: potential bank integration and global adoption. They do have a 100B coin supply, but about 60% of the supply is "locked up" at the moment.
I am NOT posting this chart because I think XRP is a buy right now, I am posting because if you're still holding from way down low (from >$0.50) it is probably worth continuing to hold a little to see what happens by the end of March. Truth be told, I doubt my hands are strong enough to hold through $5, but maybe yours are.
Either way, this will be a fun chart to track.
Good luck trading and as always, this is not investment advice.
Kommentar
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Heard some spots are open at Binance, If anyone wants a referral link, here you go:
Why does everyone try to apply Stock market analysis to a booming Crypto market? Apples and oranges. The fact is that it is so difficult to jump through all the hoops to even be able to buy XRP or others this is still a niche investor group. I personally have explained and shown some of my friends how to get in, few have while many others have just given up. A coinbase addition would simply open up a new source of US dollars sitting on the sideline desperately wanting to get in and they will. If crypto were as easy to buy as stocks right now the market cap would be 10 fold imho.
Brodie_MT
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@xxCrypto, This is going to sound condescending, but it is meant to be educational: How long have you been in crypto? If the answer is less than 1 year (I would guess only 1 month) you can't be drawing these conclusions yet. Technical analysis (I assume what you meant by 'Stock market analysis') has been proven to work in these markets over and over again. Yes, bitcoin and altcoins are completely different type of technology, but it doesn't preclude them from human emotion (greed and fear specifically). I am not defending this chart, i just thought it would be fun to track, but look at some of the predictions traders make just on tradingview and i think you'll find it does work more often than not. Technical analysis is most effective when used in combination with fundamental analysis (information about whatever you are trading i.e. value proposition, coin supply, development team, etc.). The more information you have the easier it is to make informed decisions or plans and helps you remove emotions from the equation that could otherwise cause you to make bad decisions. I hope this helps.
@Brodie_MT, TA works in crypto because they're are few other ways to predict future movements (so more people use it)...it's not like with public companies where you can whip out financial statements and do a valuation of the company to determine share price.
Brodie_MT
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@WG028366, TA works because it characterizes buyers reactions to changes in price over time allowing you to predict with some degree of probability what will happen next. From that perspective these markets are no different from any other markets, they just happen at lightning speeds and have insane volatility. And yes you cant whip out a financial statement, everyone should be doing their own research on anything they invest in.
max69
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I think it could end up a case of buy the rumor, sell the news. Being added to coinbase will have been priced in by the time it actually hits an exchange, a sharp correction could follow.
Brodie_MT
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@max69, I totally agree, but who says when they will they really add it on Jan 8th?