BTC ETH LTC XRP the Big Four Wanting to Break Above
Merry Christmas Eve Everybody!
Apologies for this quick & dirty snapshot. Wanted to make sense of the market situation myself after the SEC kind of spoiled the last couple of days.
Bitcoins appears to be breaking out above here soon and deliver the main Christmas present being market uptrend stability.
Ethereum is climbing towards it last big break out trying to break resistance levels. If it does follow suit with Bitcoin then I expect the next break out to be much bigger and break $675.
Litecoin has shown immense strength these days. Back towards is last 2nd breakout levels it seems poised to jump up and beyond $124.
Ripple XRP is in very dangerous territory. I feel the market overreacted. Ripple is not at #3 in market cap for no reason. The technology and services obviously provide value.
Transactions are super fast and cheap. Ripple is very much a competitor when it comes to central bank based digital currencies.
Maybe the SEC has tried to put Ripple in check or maybe they are really just trying to correct something.
Either way it would appear the biggest threat is a hefty fine for the owners of the company Ripple and not for the network.
It could of course put a big damper on investment money for Ripple so in that regard the almost complete sell of seems half way in order.
XRP needs to do more then just bounce sideways like a dead cat. If it can clearly rebound in the green channel there is a good chance for recover and potential opportunity for some nice gains.
But keep in mind nothing keeps XRP from losing more ground, so tread carefully.
Enjoy your time off. Stay safe. Be healthy and enjoy the company of your beloved ones.
Apologies for this quick & dirty snapshot. Wanted to make sense of the market situation myself after the SEC kind of spoiled the last couple of days.
Bitcoins appears to be breaking out above here soon and deliver the main Christmas present being market uptrend stability.
Ethereum is climbing towards it last big break out trying to break resistance levels. If it does follow suit with Bitcoin then I expect the next break out to be much bigger and break $675.
Litecoin has shown immense strength these days. Back towards is last 2nd breakout levels it seems poised to jump up and beyond $124.
Ripple XRP is in very dangerous territory. I feel the market overreacted. Ripple is not at #3 in market cap for no reason. The technology and services obviously provide value.
Transactions are super fast and cheap. Ripple is very much a competitor when it comes to central bank based digital currencies.
Maybe the SEC has tried to put Ripple in check or maybe they are really just trying to correct something.
Either way it would appear the biggest threat is a hefty fine for the owners of the company Ripple and not for the network.
It could of course put a big damper on investment money for Ripple so in that regard the almost complete sell of seems half way in order.
XRP needs to do more then just bounce sideways like a dead cat. If it can clearly rebound in the green channel there is a good chance for recover and potential opportunity for some nice gains.
But keep in mind nothing keeps XRP from losing more ground, so tread carefully.
Enjoy your time off. Stay safe. Be healthy and enjoy the company of your beloved ones.
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