Connect with us

Blogs

Ripple (XRP) Price Analysis: January 22, 2018

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

The entire cryptocurrency world is experiencing a much-anticipated market correction with prices across the cryptocurrency sphere trading down. Almost all the popular cryptocurrency daily price charts are showing price reversal patterns from all-time highs made over the last couple of months.

The cryptocurrency market is exhibiting classic signs of “follow the herd” mentality as traders that are taking profits (those at the front of the “herd”) are being followed by those traders that entered the market late, and are now having to cut their losses (those at the back of the “herd”). While all the “we told you so” media pundits that are reporting the “bursting of the bubble” are take their victory lap,  savvy investors (that don’t follow the “herd”) who have been patiently waiting for a favorable market entry point are now in a much better position to pull the trigger.

The exposure of the cryptocurrency market in the news has garnered the attention of many institutional and private investors. Many of these investors felt that they “missed the boat” on the cryptocurrency opportunity. This massive market correction may be seen as the time to enter the market and may spark another bull run on the cryptocurrencies that may again see new all-time highs.

Ripple (XRP) is in a great position to capitalize on the current market conditions. In terms of market capitalization, Ripple is now the third largest cryptocurrency with a $53.224 billion market cap.

While Bitcoin and Euthereum remain at the top of the market capitalization list, they are priced at $11662.00, and $1069.20 respectively, leaving room for a great deal of downside risk if the market continues on its slide. Ripple, on the other hand, is trading at a mere $1.37, with daily volume that typically ranks in the top five. At Ripples’ current price, there’s not near as much downside risk as Bitcoin or Ethereum.

Chart #1: Ripple Daily

From a technical analysis perspective, Ripple has just completed a head-and-shoulders price reversal pattern (as shown in Chart #1 above) for which it has retraced almost 78% of the price runup which started on December 11, 2017, to its all-time high of $3.32 on January 4, 2018. Price has bounced off of a resistance level at $.86 and has consolidated at$1.37 where it is currently trading.

We can conclude with some degree of confidence that cryptocurrencies are here to stay. That being said, with the completion of the head-and-shoulders reversal price pattern, along with the fact that Ripple doesn’t have much room for price to fall, puts it in a prime position for upside movement once the market correction cycle is completed. This puts Ripple is in a promising position to attract many of the new investors entering the market as a result of the discounted prices resulting from the market correction.

For those patient investors that have been patiently waiting for a favorable market entry point, this is it. We will be watching closely.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Elite