A Long-Term Technical Analysis Perspective & Review For Ripple
By Rubika Ventures on Altcoin Academy
Hi Rubikators! This time we will be short, we will try to promise. The question we bring today is about the latest review about cryptocurrency Ripple.
This morning edition goes to those unbelievers who hate Ripple for being one of the most manipulated currencies in the crypto market.
The worst of the case is that since 2017, many crossed it out as fraud for attempting a negotiation with the banks. Apparently the philosophy of decentralizing things was not something that Ripple sought according to critics.
But we have to teach you something else from a professional point of view. What we must keep in mind when a blockchain technology project is created is not the fact that it seeks to be faster than Bitcoin.
Where do we go with the above? Simple. Before judging anything, the purpose for which the project was created is important to study. For Ripple case, that cryptocurrency was simply created with the purpose of overcoming the barriers of international transactions between banks and lowering transaction costs.
Market lovers and fans will say that it was the death of decentralization with this project. But we read the following lines of text we can realize and we can understand why this asset has the third position in the top 100 within the total market capitalization.
Ripple’s Correlation With Bitcoin
Remember, the market is not about making a lot of money, it is about correlation and as we have informed you before, Ripple is one of the currencies correlated with Bitcoin. What we have to understand is that because it is still a very new market, it can be manipulated by many in the matter of supply and demand.
We remind you that the study of correlation is a powerful tool that can help us to really recognize in which projects we can invest by reducing the risk of loss. And as you see Ripple enters the list.
Financial Markets Have Their Cycle
We know that after the last cycle of the market, Ripple asset had a devaluation of more than 100% (we want to exaggerate), but what we have to be clear about is that the financial markets are about market cycles.
The above, then, it can answer your question of why the cryptocurrency market is in the state it is. In our view, the previous devaluation cycle is over and now we are entering a new one.
Victory May Be Near
Understanding the sense of market correlation and the concept of the market cycle, we personally understand how victory can be closer than we can imagine.
It is no lie that we are limited people in some aspects and that we need a divine light to reach beyond the impossible. We know that you will feel strange about the video as a cover. But it is for you to enjoy good music to read what is coming.
Profit Almost Impossible To Believe
Between one week to another, several news caused Ripple’s price to fire like a rocket. Among those news, the one that stands out the most is the fact of Vega Protocol recently raised $5 million from a number of investment firms including Ripple’s Xpring in order to help build and roll out its decentralized derivatives platform as reported dailyhodl.
Another important fact is the fact that Ripple remains within the scope of derivative markets, which, as we reported in our latest report, is where the largest capital investment will be concentrated.
With the above we must add to the number of factors to consider where we should invest our money is the fact of observing with caution the expansion of the project itself.
Ripple days ago announced that they are leading an investment round in Bitso, a leading cryptocurrency exchange in Latin America as reported usethebitcoin.
But the most controversial news was the case of Samsung to be Working With Ripple Partner Finablr on the International solution for the global payment network as related coindesk.
Our goal with all of the above is to show you how victory can be closer than we think. Good, you will say to us that we have repeated this a lot during the text. But pay attention as that news influenced our earnings in recent days to our exclusive group of experts.
As you can see in the last image, with Ripple in recent days, and thanks to our simple strategy to obtain great results, we obtained approximately 77% of profits with Bitmex (we used 10x leverage) and Binance in less than three days.
And of course, the news we told you before played an important role in improving the sentiment of investors.
With this, we learned that diversifying is important and is an excellent step that reduces risks when investing in the market.
So, in addition to having a strategy, knowing about correlation and market cycles, portfolio diversification is a variable to put into play.
A Long Term Ripple Analysis Review
To complement everything we have told you here, we want to offer you a personal recommendation from Ripple but more for the long term. We really want you to see the following perspective.
The first aspect that we want to emphasize is that while you read all the lines of text that we had promised you that would be short before, the price of Bitcoin returned to one of the important supports, testing the slope of the $7.9k price.
The funny thing for Bitcoin right now, is that the daily chart seems to form sine waves. Very interesting that do not believe it, do you?
With this, we expected that the price of Ripple accompanies the trend of Bitcoin. But as we see, our daily chart is following our perspective.
Currently, and if we look closely, Ripple remains in a high angular channel if we use the interpretation of Gann’s theory, and which we use a lot to obtain excellent results. Believe! it works better than Elliot’s theory for this market. Let’s say it’s a kind of reengineering.
RSI and MACD show for this time graphing, an imminent correction for the next days. But look at what happens if we move our line of thought to other graphic times.
If we move to the graphical time for weeks, we can see the real high trend that Ripple is currently having. It is clear that at any time it is subject to correction.
If we place the EMA21, which we consider very important, we see that the weekly price chart is currently trying to get close to this EMA, which for now we can consider as a strong resistance. Once this resistance is exceeded, we are not going to tell you what can happen in the following weeks.
RSI and MACD for the weekly chart indicate that the price is just beginning its reversal and a new possibility of targeting a bull market.
Now, we have to explain that we don’t want to be market gurus, just educate yourself positively. That is why if we move to graphic time for months you can know our real goal with Ripple.
We don’t know yet, but who knows if we really conquer more than 400% in profits in the coming months by trading or holding with Ripple. The truth is that the answer is left to everyone who can.
But in summary, seeing the monthly chart, so far Ripple remains in a new high pivot. Personal opinions then we leave for comments. So if you agree with our conspiracy theory, please leave your comment below this article.
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See you in the next. With Love 💛, Rubikators Team.
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