Ripple‘s 30% rally early this week came as a relief to many crypto investors. Not only did this happen at an important point on Ripple’s price chart but the news itself on which it moved is a textbook example of the 1% news that matters to investors! Moreover, with this move, Ripple is attempting to break out from its 8 month downtrend. We watch Ripple’s breakout attempt of 2018 closely!
Note that we stick to our 5 Reasons Why The Crypto Market Is Alive And Kicking. It may have been a tough year for crypto bulls but the fundamentals and the state as well as potential of the crypto technology clearly suggests that things will get better. Let’s finetune this point: for the small portion of crypto projects, crypto startups and cryptocurrencies it will be great. Approximately 90% of cryptocurrencies will go to zero which is their intrinsic value because they are not focused on delivering value (regardless of how cool their technology is).
That’s why InvestingHaven created a selection of 10 top cryptocurrencies that are the most likely to survive and thrive, must holds in your long term crypto portfolio. This is offered to premium crypto subscribers as part of the crypto and blockchain investing research service, the first of its kind in the world.
Ripple: The Most Important News Of 2018
Ripple’s breakout attempt in July of 2018 clearly failed.
Many crypto investors started doubting because of the different litigations against Ripple. Also, the crypto sphere was full of criticism that the XRP token (Ripple’s cryptocurrency) is not used so will useless, and, therefore, will go to zero. This is one example of “research” that tried to make this point.
Remember, all this “news” is not primarily to help investors. It is not research that is useful in understanding a (potential, past or future) investment.
As per InvestingHaven’s 1/99 successful investing principle it is only 1% of news that matters to investors, the rest is noise and even dangerous for your portfolio and mental / emotional health. In other words, 99% of news will damage your wealth and health!
This is the news that came out early this week: Ripple about to launch xRapid. This is a textbook example of the 1% of the news that really matters to crypto investors. Ripple answered in their announcement this week everything:
- they keep on growing;
- they have an amazing solution;
- they solve a real life problem;
- their XRP token will be actively used in their product.
Ripple: Another Breakout Attempt In 2018
No coincidence that Ripple’s price chart looks different this week compared to before.
Ripple is now back at the top if its bearish pattern. It did not become bullish yet, there is more work required and an improved sentiment. However, things may go fast, as always in crypto land.
What we see is that Ripple is in the highest ‘band’ of this giant triangle formation. This is the second time it happens in 2018. Note that the previous breakout attempt in July of 2018 failed in the same week (see also our article linked above). It also did not get as close to the breakout area as the current attempt.
A small push to $0.35, and at least 5 consecutive days of trading above $0.35, would confirm a breakout!
What does this mean to crypto investors? Read all about it in our latest crypto alert reserved for premium crypto subscribers (first page that you will see after signing up and logging in).