This thing might drop down to 17k sats. And then bounce.
Hello fellow traders.
On the picture we see the mother of all bullish wedges. If the theory is correct, the chart should continue down to the bottom of the wedge (purple box) to 17000 satoshi value. And should, of course, than explode much higher. By doing that it would also produce a double bottom.
Incidentally, on large exchanges like Bitstamp, at 17ksat mark the demand increases substantially, so there may be some grounds to this theory.
Most of the cryptosphere acknowledges the use case for xrp. Its current traffic for on-demand liquidity usage is 5mio per day, but this number is increacing exponentially. One of the notable users of this technology is Moneygram company, one of the biggest remittance companies in the world.
So there are groungs for growth, but nothing that points to immediate development of price action. So my educated guess is April something. Seems like more waiting ahead. I hope the result will be worth it.
On the picture we see the mother of all bullish wedges. If the theory is correct, the chart should continue down to the bottom of the wedge (purple box) to 17000 satoshi value. And should, of course, than explode much higher. By doing that it would also produce a double bottom.
Incidentally, on large exchanges like Bitstamp, at 17ksat mark the demand increases substantially, so there may be some grounds to this theory.
Most of the cryptosphere acknowledges the use case for xrp. Its current traffic for on-demand liquidity usage is 5mio per day, but this number is increacing exponentially. One of the notable users of this technology is Moneygram company, one of the biggest remittance companies in the world.
So there are groungs for growth, but nothing that points to immediate development of price action. So my educated guess is April something. Seems like more waiting ahead. I hope the result will be worth it.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.