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Ripple (XRP): Why Hodling Is Investors’ Only Option
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Ripple (XRP): Why Hodling Is Investors’ Only Option

Ripple (XRP) has been a true investors’ favorite for much of 2017 and early 2018. The weekly chart above for XRP/BTC shows that Ripple (XRP) reached its first high in May 2017 and its second high in January 2018. It is really exciting for a coin to have two complete bullish cycles within a period of just one year, but could many investors have capitalized on these gains? The answer is no. Ripple (XRP) is known for its quick but aggressive rallies. What does this mean? It means that Ripple (XRP) makes its entire gains for the cycle in an extremely short timeframe.

In 2017, Ripple (XRP) completed its bullish cycle in just 70 days. That means if you were too scared to get involved before March 2017, you would have missed out on the first pump. After the dump in April 2017, if you were too scared to get in thinking it is going to do down lower, you would have missed out on a massive pump all the way to the ATH in May 2017. If you had any ideas to get involved after that, after a correction, let’s say in September 2017, you would only have lost money by the end of 2017. The same goes for the rally in 2018. The difference though is that the January 2018 rally was a lot more aggressive and took half the time (35 days). The correction in both cases, took an equal time of 203 days.

All of this explains that investing in Ripple (XRP) is a hodler’s game. You cannot predict when the rally is going to occur but if it does and you’re not in, the rest of the year does not matter. For 203 days, you can stop thinking about cryptocurrencies in general and Ripple (XRP) in particular and start investing in other markets that is if you do not want to short this market. Ripple (XRP) is once again at the point of an outbreak and a similar rally can be expected. RSI conditions on the weekly XRP/BTC chart above support it and so does the price action.

The chart above for XRP/USD shows that the price is beginning to complete a cypher pattern, a bullish indicator which means Ripple (XRP) can start a new cycle at this point. There is no lack of solid catalysts to influence the price of Ripple (XRP) when it comes to it. Recently, Bill Clinton signed up as a speaker for Ripple’s upcoming Swell Conference. All things aside, Ripple knows how to play with the big boys. Big industry names like American Express, Western Union, UBS, Bank Santander and renowned celebrities and public figures like Bill Clinton, Madonna, Ellen and Ashton Kutcher are linked to Ripple (XRP) one way or the other. There is no denying that Ripple (XRP) has managed to acquire an unprecedented level of clout, fame and recognition, something which most cryptocurrency projects lack. While that may be a good thing for Ripple (the company), investors still want to see how Ripple (XRP) is going to use its currency, XRP and how those use cases are going to influence its price.

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Fakhan

I work as the key Trading Analyst for Crypto Daily and provide the team with regular analyses and updates regarding the technical performance of all cryptocurrencies on the market. I am responsible for the production of articles and posts for Crypto Daily’s own technical analysis section and spend my time monitoring and commenting on the varied moves the markets make on a daily basis.

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