XRP drop to 0.22/0.2 Bearish pennant. Thoughts?
I remain Bullish but think we will see a further drop, likely drop off with news of the SEC FUD and year end see off from US citizens for TAX. I think as institutional investment picks up in the new year and American retail picks up we'll see a lift in price. Coupled with the fact that a significant proportion of XRP usage and interest is -Ex-USA (there are lands beyond those borders) and many markets have already deemed it not a Security.
As the market settles we may see a bull run but I would expect damage to have been done to Ripple affecting the XRP product, and so we would see a slower increase upward and probably a diminished market cap / expected highs, but I do expect it to hit the 0.5 range initially. Ultimately I believe the damage may have been done an another solution will capitalize on the FUD and court the central/big banks with an alternate product for Settlement / SWIFT replacement, diminishing the good work Ripple have done with XRP/Ripplenet. Some institutions will remain wed for now to XRP for now given proof of concepts and work in flight but only time will tell.
CAUTION, when analyzing, please remember to remove objectivity and FUD and work with a rational approach based on global not national markets.
Considered technical and fundamental responses welcome.
As the market settles we may see a bull run but I would expect damage to have been done to Ripple affecting the XRP product, and so we would see a slower increase upward and probably a diminished market cap / expected highs, but I do expect it to hit the 0.5 range initially. Ultimately I believe the damage may have been done an another solution will capitalize on the FUD and court the central/big banks with an alternate product for Settlement / SWIFT replacement, diminishing the good work Ripple have done with XRP/Ripplenet. Some institutions will remain wed for now to XRP for now given proof of concepts and work in flight but only time will tell.
CAUTION, when analyzing, please remember to remove objectivity and FUD and work with a rational approach based on global not national markets.
Considered technical and fundamental responses welcome.
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.