The XRP price drops over the last week haven’t been of much concern to myself, however, to a lot of
other investors (let’s say, unseasoned ones, or, ones that are just in it for day trading), it’s been quite
an eye opener. So, what’s really going on?
It’s hard to say with any certainty, however, if we look at the 4H chart, we can get a clue of
something. On January 11th, 2018, there was the announcement of the Ripple partnership with
MoneyGram and there was quite a surge (note the volume, shown on the green bar below the
candle). The buy volume was 36.243 Million.
If we now look at this mornings 4H candle at 0800 we can see it bouncing off the $1.24 support level.
However, notice the volume? The buy volume was 37.378 Million. So this means that there was
something causing more of a buy volume than the MoneyGram announcement last week.
My own opinion is that as the price dropped, weak hands were selling (as you can see in the
previous 3 red candles and their volumes) and more savvy investors were buying.
What has people scared? Again, hard to say, but we’re very much in a fundamental arena with
Crypto’s and Digital Assets as it’s an emerging technology, so any kind of news, especially FUD can
have serious adverse effects.
I’ve said it before, and I’ll say it again, Ripple/XRP has the very best technology, currently, and has
the product and potential to literally change the world. There are some big things happening both
this month and next, as far as announcements, conferences, annual reports, results of XRapid
testing, etc. So yes, it’s a rocky road now, but as a long-term investor, as we all should be with this
company, only good things are coming down the pipe.
People have invested in mutual funds for 20-50 years just to make a million, but Ripple won’t be like
that, let’s not lose sight of how incredibly technologically advanced Ripple is and the management
team behind it. Just hold, you only take a loss if you actually sell. Time and patience wins the race.
Disclaimer: I personally own XRP digital assets and am a long-term investor/holder in the product.
Author: Andrew French (Twitter @asiamtm)
