Ripple in the year 2018 will moon shot, 2018 holds alot of potential for the currency, with backing from major banks and major companies, Ripple willl have potential to shine. Currently ranking in at number 3 on Coinmarketcap.com at $1.13 USD Ripple is sitting at a very nice discount, with a market cap of $43,958,854,913 USD and a (24) trading volume of $1,571,900,000 USD, Ripple has the potential to grow tremendously like it has in the past.
Embedded within Ripple is a unique feature that allows a fraction of XRP to destroy itself during the transaction process as a result over time the circulation of XRP will slowly reduce meaning XRP will become higher in demand. Currently this feature wont effect XRP circulation as much, however 3 / 5 the global top financial chains have backed XRP and plan to use it, this will allow for billions of transactions to occur hence making XRP higher in demand over time.
Inclusively i have also conducted an analysis on XRP/Dollar with my predictions
As seen above we have applied the Elliot Wave Theory to the chart
Applying the Elliot Wave Theory rules:
We can see the three rules hold true:
Elliot Wave Theory rule 1: Wave 2 cannot exceed wave 1
Elliot Wave Theory rule 2: Wave 3 can never be the shortest
Elliot Wave Theory rule 3: wave 4 can never overlap wave 1
After wave 5 we should see a bullish correction which theoretically will end up somewhere near wave 4, judging by the bollinger bands we should see a gradual increase to 1.400. This may hint at the beginning of an upward trend towards the XRP's all time high, XRP wont necessarily climb to $3 overnight however i do believe over the next few months we will see a nice increase to $3 - $4.
My predictions are that XRP will hit $10 during 2018
Additionally:
- The MACD is still in decline with the red line over the blue, over the coming 24hrs we will see these cross.
- RSI is also in a downward trend, however we are seeing some form of increase which will gradually even out and begin to trend upwards
Legal Disclaimer: I am not a professional financial adviser, this post is my opinion, please do your research and make investments of your own
Additional Links:
Ripple Reddit: https://www.reddit.com/r/Ripple/
Ripple Website: https://ripple.com/
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