Intro

Ripple (XRP) gained a lot of attention in late 2017 and early 2018, Why? Some were saying it was the next bitcoin, others were saying it was going to be added onto Coinbase. Today I am here to give you my take on XRP from a technical and fundamental perspective. Although many of these cryptocurrencies are treated as speculative investments not all will be here in the future. Ripple is not a coin but an open source protocol designed as a means of payments between financial institutions. XRP is the cryptocurrency used on the Ripple Network, a distributed ledger that tracks all accounts & balances. Anyone who holds XRP is considered apart of the network and is considered an account. When transactions are made between two individuals/institutions they and processed through the network for validation/security.

XRP

Interestingly enough XRP was created before Ripple was involved. After Ripple deiced to incorporate XRP into it’s company they were gifted a percentage of their coins, this is apart of final 100 billion supply. When looking at XRP circulating supply we see there is only 39 billion in circulating supply, that’s because 55 billion XRP were locked up in an escrow fund from which 1 billion is released every month. You might be asking how does Ripple use XRP? Within the Ripple Network XRP is used to charge a small fee. Sending multiple transactions everyday can lead to high fees, with XRP transaction cost is about 0.0001XRP, this is may change deepening on network use.

Ripple sounds too good to be true I know, before you go buy some XRP before finishing the blog keep this in mind: Today Ripple is not with it’s original developers, but instead by Ripple Labs located in California. Cryptocurrencies like Bitcoin are developed by voluntary developers, or non profits like Litecoin and Ethereum. Ripple is a private & public blockchain meaning it is permission on permission less for more information Click Here In order to provide their financial services Ripple has to comply with with the KYC policy, meaning all accounts are processed and may be canceled at anytime. Cryptocurrencies were built with the intention of decentralization and usually communities reject anything else. However cryptocurrencies such as ETH and BTC also suffer centralization as we see it in mining farms.

Products & Services

Unlike it’s cousin LTC and ETH, Ripple wants to make money, How do you do this? Well you offer a service or a product, Ripple offers a collection of products. First we’ll start with Xvia, the solution for everyday businesses and financial services. Payments can be sent from its network to individuals, businesses, and banks. Some features businesses might be interested include payment tracking, invoicing, and tracking deliveries. Second we have xCurrent: interfacing with the traditional SWIFT protocol but transmits information in real time using Ripples ledger. Looking to be the corporate solution for financial institutions, all transactions with comply with KYC policy. Last but not least we have xRapid: Liquidity is key when moving large amounts of money as fast as email. xRapid is fit for payment providers, able to attend all customers and have the money work itself. 30% cheaper than traditional banks, xRapid is the solution that gives liquidity. This is all achievable through XRP which allows to send quick payments across the world.

Ripple’s Goal

At the end of the day Ripple wants to make banks cheaper and transparent

Technical Analysis

Daily

Looking at our daily timeframe we se price has hit major resistance @ $0.90, and has pierced our major support @ $0.70. Expecting price to continue to fall the next couple of days, looking for support around $0.50—$0.55 zone. Stochastic RSI showing momentum remains bearish. END OF THE YEAR TARGET ($7.00). However I will not be buying any XRP and holding, my plan is to trade XRP/USD through a Forex Broker that gives me $50 for every $1 I have in my account. Why is this significant? Because $100 at XRP price only gets around 140 XRP, however with 50:1 leverage the same $100 allows me to trade (not own) up to 7,000+ XRP. Huge difference, however that does not mean click the link sign up and throw your life savings at it. Leverage is double edge sword, although it can 10x your account in a single trade with a small move it can also REKT you. Proper risk management should always be used. If you are interested and think you can handle the power of leverage and crypto Sign Up Here I’ll be waiting for a daily support confirmation, before taking any buys. This is my main trade for 2018, and this idea will updated regularly. Thank you for your time :)

Link To Chart

Conclusion

• Buy: Wait for price to drop towards $0.50 zone and buy off dynamic support.
• Sell: NOT IN 2018

Comment Down below what coin you want me to do next! ;)

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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.