Whats going on with XRP Ripple 09.10.2017 ( XRP/EUR )
Hi guys and welcome back to my blog. So three days closer to Steemit conference in 7 days - October 16–19 in Toronto, Canada.
The price has been really pumping upwards for the couple of the last dasy and our job is to look how and why a speculate a bit where it will go.
Firts lets have a look on the Basic resistance Ripple has ahead of itself.
Blue lines are the resistance lined we know from the past. Right now it went trough almost all of them. There are two more left before it might explode.
0.228 EUR - the battle has begun a couple hours ago but as Ripple seem to have an amazing buyer support it will not last too long. Also Ripple needs to consolidate its forces since the RSI indicators already tell us its was overbough and this stop will do just that.
The next stop will be 0.245 EUR and then there is only one way ... up.
The thing i find most interesting is not the graph itself. But have a look on the bottom of the graph i set my volume bars. and you can clearly see the volume is not that high when we compare is to the maximum volumes we know from the past then its Basically 1/3. That means either the comunity beleives its gonna go up which can be since Steemit is before us or someone big is holding a lot of Ripple.
That information is interesting since there is a rumor Ripple will block about 1/3 of the Volume for the Banks so that they can begin test trading it a bit more. I mean there are already a handful of Banks trying out the system but since you want all of the Banks to try it out you need the currency for it and 1/3 seems to be missing at the moment. But this is just a speculation on my Part. Announcing more partners would most likely skyrocket the price in the mid / long Term.
The rest of the volume are the beleivers that are gonna hold untill Swell is over maybe a couple days after. My questiong for you is what do you think will happen after the Swell conference ? Something important to mention is Bitcoin Gold Fork is set on October 25. Do you think everybody is going to dump Ripple to buy Bitcoin ?
Hope you enjoy my comments / Speculation and lets all hope ( those of you who invested ) that we make some nice profit !