XRP/BTC - tHe nEw BiTcOiN always pumps eventually...
Updated
No big fan of Ripple as an actual project. However it does have that mix of public awareness, low 'per unit' cost, and 'community members' who think it's the next Bitcoin.
That all equates to some big, dumb price action at some point this year.
Last three times, it bounced hard off a major support and did between 200 - 1000%.
Looking at this chart, I see it bouncing off one of the 2 support levels and achieving similar returns. If it wants to be cheeky, might bounce off first support, then head back down again (blame Bitcoin etc)
Overall - will watch closely and enter when a real turnaround looks likely (with a stop loss obviously)
That all equates to some big, dumb price action at some point this year.
Last three times, it bounced hard off a major support and did between 200 - 1000%.
Looking at this chart, I see it bouncing off one of the 2 support levels and achieving similar returns. If it wants to be cheeky, might bounce off first support, then head back down again (blame Bitcoin etc)
Overall - will watch closely and enter when a real turnaround looks likely (with a stop loss obviously)
Note
Still think this will bounce at one of these levels. Almost certainly at 676.A depressing grind down, until.. mid August?
Note
UPDATE:Heading close to the first possible bounce zone.
I would not be surprised if we saw a brief dead-cat bounce from that area, and then continue the journey downwards.
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