XRP/USDT Buy - Steemit Crypto Academy - S6T4 - Team Trading Contest Post for Investors-Team
- The name and introduction of the project token, which exchanges it can be traded on, project / technical information of the coin/ team background, etc.
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Ripple is a blockchain-based payment solution acting as both a cryptocurrency and a digital payment gateway created by Ripple Labs which was a United States-based company, the XRP token was created as an alternative to centralized finance.
The XRP token is the native token of the Ripple blockchain created in 2012 by Jed McCaleb and Chris Larsen although the initial Blockchain concept was brought about by Ryan Fugger and he originally founded the blockchain ledger when the idea was first brought about it was initially named Opencoin initially which was later changed to Ripple coin.
The Ripple is a public blockchain that operates a peer-to-peer blockchain that operates an open-source ledger, The XRP token was incentivized to reward holders of the blockchain's native token, users can stake the token or provide liquidity to earn passively in the blockchain. The blockchain uses a validator to verify transactions, each participant in the blockchain and can select a validator which has to be unique, known as a Unique node list, each validator in the blockchain proposes transactions and when a consensus is reached among validators the transaction is passed and approved
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The XRP can be purchased from the following exchanges
TOKENOMICS
The XRP token is currently ranked in the cryptocurrency as the 6th coin in the world rank of cryptocurrency, the coin is currently worth 0.8618 with an initial launch price of $0.1, the asset has seen its all-time high at $3.84 in 2018 Jan while its all-time low was seen at a price of $0.002802, a fully diluted market cap of $86,234,965,711.30 and a market dominance of 1.94%, XRP ha a circulating supply of 48,121,609,012 XRP supply of 100,000,000,000 XRP.
2: Why you are optimistic about this token today, and how long do you u wish it can rise.
The technical analysis done on the coin suggest that the coin is in a bullish run and with the pump, we are experiencing in the crypto market over a couple of days i will strongly say the coin will continue in a bullish trend for the time being
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From the image seen above in the 1hr chart, we can tell the coin has been on a rise for a while and i believe for the time being it will continue as such
3: Technical Analysis
For my buy entry I will be using the Williams alligator indicator strategy thought in the Steemit crypto academy but in this case, i will not be adding any indicator, The Williams indicator has three M.A indicators the teeth, jaw, and mouth.
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In the Williams alligator when the trend is beneath the indicator, it is seen to be an uptrend but since our trend is seen we are making a buy entry we will wait for our asset and The Williams alligator to cross over our price action.
I awaited confirmation from my indicator and made a buy entry at 0.85955 with a take profit to stop loss ratio of 1:2 with a leverage of 5x.
The strategy is quite simple but time-consuming one has to monitor the chart continuously for reversal of the green MA from on top of the Williams alligator indicator to under indicating a reversal to the upside before entry can be made
4: Your plan to hold it for a long time or when to sell.
As someone trading strictly for profit and targetted profits i would easily say i am holding the coin for a long duration, the asset trade will remain open till one of my targets are met either Take profit or Stop loss as per the professor's instruction, so i am holding this coin only cause of my trade after which i will close and move on
RECOMMEND
The XRP token is a very good token and if anyone would like a coin that does not suffer so much from volatility, the coin is stable although it rises and falls like every other coin but the asset has shown significant growth over the years.
CONCLUSION
The Ripple was created as an alternative to centralized fiat currency and transactions and also as an alternative to the energy-consuming bitcoin with ripple offering a more scalable blockchain and little transaction fee.
cc: @pelon53
