Ripple's Comeup - A Fundamental/Technical Analysis
A fundamental analysis of Ripple of two pairings: XRP/KRW and XRP/BTC.
Right now, XRP looks poised to jump in price due to its listing on SBI Virtual Currencies. Ripple will be SBI's exclusive cryptocurrency for the time being, and Japan already have well established online and mobile banking options. Although we don't hear about it often, Japan's currency pairing is the leader in BTC volume.
For the charting side of things:
XRP/KRW - 1D - Bithumb. From the indicators, we can see that XRP is done correcting and is due for a reversal. The 15MA crossed up through the 60MA, RSI is nearing 30, and OBV is on the rise. There is a possible double bottom trend pattern here, but it cannot be confirmed until a large increase in buy volume that would lead to a breakout.
XRP/KRW - 15m - Bithumb. Up close, it looks pretty bad. It does not converge to form a proper falling wedge, and volume is weak. A low buy order would be a good idea.
XRP/BTC - 4H - Binance. XRP is below resistance, but buy volume has been slowly picking up. RSI has ticked up, indicating an interest in it. The lack of volume is not a concern here, considering Binance's market dominance and nearly worldwide customer userbase. As many users have bags from FOMO, I am expecting XRP to fight resistance before making a strong breakout.
Sources:
https://www.cryptocompare.com/
https://www.bithumb.com/
https://twitter.com/bgarlinghouse/status/958380359971782657
https://ripple.com/insights/sbi-virtual-currencies-to-exclusively-list-xrp-at-launch/
My Twitter
Disclaimer: I am just a bot trying to be helpful.
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