Ripple has to be one of the most confusing coins in the space now. They make amazing announcements and price drops. They have real world functioning partnerships with major banks, price drops. I have no idea what is motivating price action on this other than big fish pressing the price down. I don't buy into the whole centralized thing, as traders who move markets, don't care about this.
Anyway, I believe it's about that time for RIpple. As I mentioned in my post on LTC, it seems the original alts are coming back. Some with huge moves and some still TBD. A good time to invest is when people are hating and turning their backs and RIpple is certainly suffering that. The technology and purpose are not questioned and neither are their backers.
Centralization isn't always a bad thing anyway. For me, in the short term especially, we will need the RIpples of the world to make the public more comfortable with blockchain technology. I'm going to get my toes wet and see what happens here.
From a TA perspective, Ripple has hit a serious bottom against BTC. There is always lower to go, but this floor seems solid and we've already seen a small bounce. Descending triangles are not usually what I like, but both Stochastic and RSI are heading in the right direction. In particular, RSI is moving out of oversold territory. These tend to be signs of trend reversals and with a strong floor being established, I think risk vs reward is in my favor.
Let's see...
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So I moved out of this one for now as some other coins needed funds. Still think this is a solid move, but it may take longer than expected, so I'll be back once I see some stronger movement.
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well, as usual, i bailed and it popped. small satisfaction that the call worked out.
@MarRob, it did push up a little more. A lot of these breakouts seem stunted though, without any major news. Moving Ripple in a big way will take a lot of buying pressure though. Marketcap is quite big.