RIPPLE: What will be the bottom for XRP

Disclaimer: This is not investment advice, merely my own opinion. I have holdings in XRP.

Price: Technical Analysis

• Our assumption here is that given the growth of the XRP asset, price moves exponentially (curved) on a longer timeframe, and not linear. This is important because or price movements will be relative and not absolute.
• During our first pump at the start of April we went from about 500 sat to 7000 sat, then retracd to 2200 sat. Or a retrace of around 322%, if we make the analogy for this leg up we will get a retrace of around 7350
• When reaching 15 000 sat we already had one dump (due to poloniex crash?), the market maker stepped in at around 7350 sat
• The RSI shows bearish price divergence. The price made a new top at 24000 , but "buying power" so to speak actually went down
• The 7350 is further supported by a previous top, it turning into resistance would confirm the uptrend.
• The green marked area would be the bottom of what is commonly known as the ideal entry zone.

Quick introduction to Ripple and XRP

Ripple is a company that offers solutions for faster and more secure payments through blockchain technology. Last year the partnered with the SBI group, a large Japanese banking consortium. The solution targetting banks consists at the core of Ripple connect (messaging layer) and the Interledger Protocol or IPL (the settlement layer).

The IPL works with both fiat currencies as well as XRP. The reason customers would choose using XRP is that it is 60% cheaper compared to using fiat. The current cost of using XRP to send a payment is 0,0007$ and it is completed in 4 seconds.

There is 27 trillion dollars in float around the world to facilitate payments at the moment. With the solutions Ripple presents that amount of liquidity wouldn't be needed anymore.