#Ripple (#XRP): Fractal Similarities Point To Explosive Breakout In Early 2019

December 2, 2018

 

Ripple (XRP) is following the exact same fractal it formed back in 2017. The similarities were visible since the beginning of September but now the big picture is clear without any doubt. Ripple (XRP) has already completed the Oval and Circle phases of the fractal. It is about to enter the triangular phase that it is expected to break out of in early 2019 to possibly reach a new all time high. Considering that 2018 has been a heavy bear market and sentiment will take some time to recover, it would be very impressive for Ripple (XRP) to reach a new all time high this soon. That being said, we have pointed to a mini altcoin season in some of our previous analyses.

It is not clear yet whether any of the other cryptocurrencies might be able to reach a new all time high that early in 2019 but as far as Ripple (XRP) is concerned, the big picture is clear. Considering that Ripple (XRP) has done a good job at respecting investors’ wishes and has performed better than the rest of the market for the most part, it can be expected that Ripple (XRP) may continue to trade in the same manner again. The RSI on the daily chart for XRP/USD is currently in oversold territory and is now bound for a reversal. This would be an ideal point for entering long positions as the risk/reward is now very low. Volume is starting to return back to the market and trading activity is rising. Ripple (XRP) has already seen a lot of interest which has led to it replacing Ethereum (ETH) as the second largest coin by market cap.

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About Ripple's (XRP): Built for enterprise use, XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts. Payment Providers use XRP to expand reach into new markets, lower foreign exchange costs and provide faster payment settlement. XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa. XRP's five-year track record of stable technology and governance makes it ready for institutional and enterprise use.

 

Ripple’s (XRP) can be bought with fiat dollars, debit and credit cards on cryptocurrency exchanges such as CEX.io and Changelly.com .

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