And today’s price prediction is … totally unknown. The end.
No, not really, but it’s not too far from the truth. The purpose of this article is to highlight some
myths as well as some facts.
I’d like to first address the issue of TA or Technical Analysis. It’s a mistake to apply so much TA on an
emerging technology such as cryptocurrencies or digital assets. Additionally, and this is the main
point, one performs TA on a chart when there is a lack of Fundamental Analysis available (or at least,
that’s the idea). We’ve all seen the charts on Twitter with the title “break out”, or “reverse triangle”,
etc. However, at least right now, there are way too many fundamentals at play to let TA be an
accurate driver for trades. I should also point out too, XRP isn’t really meant for trading in the
traditional sense. Most people should be investing in XRP because they believe in the technology
behind Ripple, their management team, their backers, and the progress both already made, and
which will potentially be made. This is the very foundation for a long term buy and hold investment.
If we look at the calendar of Ripple/XRP events coming up, we can get a pretty good idea of the
things to come with regards to both perceived and real value.
• January 26, 2018 Blockchain Connect Conference in San Francisco
• January xx, 2018 2017 Q4 Quarterly Report
• January xx, 2018 Result of Japan and South Korean Bank XRP Pilot
• January xx, 2018 Palmex launch of trading platform in UAE
• February 7, 2018 Yahoo Finance All Markets Summit: Crypto
• 2018 Coinsquare in Canada to add XRP to their exchange
• 2018 Coinbase ???
In addition to these events, we’re all waiting on the edge of our seats for the other announcements
to come, such as who the other 2 of the top 5 global money transfer companies are that will use XRP
in their payment flows. MoneyGram was already announced.
So, if we look at what the short term outlook should be for Ripple/XRP, based on the fundamentals,
it should be very positive. Looking at the longer term, it should be even more so if mass adoption can
occur. If things in Asia go as planned, I feel confident in thinking that the success will spread.
Disclaimer: I personally own XRP digital assets and am a long-term investor/holder in the product.
Author: Andrew French (Twitter @asiamtm)