Praise the wonderful price correction which brings us great opportunities! A correction is most often something that is looked down upon, considering the normal primitive emotion of fear and flight. What makes a big correction in crypto different is the very fundamental behavior that governs this market. A large amount of investors in crypto are impulsive investors that buy into the news and sell out of panic because of seeing a correction >10% which is ofc nothing in crypto. What made them sell their xrp then u might wonder: Well it's very simple, the "good news" is expected anytime for Ripple but without a date the coinbase rumors that was played down on top of the coinmarketcap removing KRW prices that made it seem like a 20% drop might have had alot to do with it.
For the well researched and HODL or day type of trader this is a great opportunity, one which u will not want to go to waste so let's dig in!
Just look at the bearish divergence forming.
update! most oversold since June 2018 !!!!!!!
Looking at the RSI we can clearly see we are entering a good buy zone. Last time it was this good was 7th December 2017 and we all know what happened with the price just after.
There is alot of things in store for us, coming up in 2018 to look forward to.
Here is some of that:
-DMM Japanese exchange to list XRP (January 11th)
-Blockchain Conference [Speaker: Brad Garlinghouse] (January 26th) : (for one and 2) http://coinmarketcal.com/?form%5Bmonth%5D=&form%5Byear%5D=&form%5Bcoin%5D%5B%5D=Ripple+%28XRP%29&form%5Bsort_by%5D=&form%5Bsubmit%5D=
-The cross-border trials(Japan-South Korea) ar set to run through Jan. 31, and if all goes well, the banks decide to send cash victimisation Ripple's XRP digital currency: https://www.cnbc.com/2017/12/14/ripple-surges-89-percent-in-single-day-briefly-becomes-third-biggest-digital-currency.html
-SBI Holdings to launch exchange adding XRP: https://www.crowdfundinsider.com/2017/12/125574-sbi-holdings-huobi-group-partner-cryptocurrency-related-services-asia-will-launch-digital-assets-exchange/
-Announcement of 2 home names. (confirmed by David Schwartz)
-AMEX adopting Ripple and XRP: https://www.cnbc.com/2017/11/16/american-express-santander-team-up-with-ripple-on-blockchain-platform.html
-XRP usage by SBI (spring): http://news.tv-asahi.co.jp/news_economy/articles/000116776.html
Google trends tend to show us if fundamentals have changed, which it has. Ripple pre 0.4+ surge which began (after 7th December) almost doesn't exist on google trends here. A 60-70% correction would put Ripple at 1.3$ ≈ and a 50% correction at 1.64$ It will not go over a 60% correction so buy small amounts on the way down.
Remember that it's about the underlining tech, team, upcoming potential, news etc that will ultimately make the price surge the most by the end of 2018 compared to other cryptos, taking over Bitcoin as #1.
Take care!
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