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Ripple Overtakes Bitcoin Cash to Become the Third Largest Cryptocurrency

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James, I think it is seriously time that IG also offered not only Litecoin but Ripple and Dash on the Cryptocurrency platform. To keep things simple for IG all they need to do if forget about offering in GBP or EUR and just stick to USD. 

 

https://www.cryptocoinsnews.com/ripple-overtakes-bitcoin-cash-become-third-largest-cryptocurrency/

 

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Agree too. Eth and btc are no longer the only ones to watch. Ripple is getting alot of attention

, any comments on when/if ig will be reviewing its crypto proposition?

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Excellent James. I would love to see Ripple, Litecoin and Dash on IG.

 

I would be ecstatic if IG were to offer IOTA and Stellar Lumens. 

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Sssh dont tell people about IOTA, I like Stellar too of course

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Yes, IOTA is one that interests me too as does Stellar.

There is a big correction ongoing in crypto's. The only move is short right now and has been for several months. Anybody who has tried to adopt any type of value investing will have got burnt and will be sitting on losses. Those who then try to add to their positions as the price declines will be sitting on even bigger losses. One must make moves based on trends. None of us can predict the future and nor can trend following. However, it increases your odds and the balance of probability increases of a successful trade / investment.

The weak or should I say junk crypto's will fail and disappear. The better quality should be left. Of those that are left several will still fail due to lack of adoption and lack of capital investment. After this period the fun really starts. It is about selecting those cryptos that can survive this period which could be a year or two or possibly longer. 

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Ripple today was up around 20% at one point. It is up around 18% at the time of writing. I know people will ask why? There will be media stories trying to explain the move. I don't know the precise reasons for the move but rumours and they are just rumours are circulating that Ripple is about to announce something big next month and this was buying in advance of the news. 

The one thing my researched has established is that Ripple has exciting partnerships as is shown by its website below:

https://ripple.com

News flow is ok and I know a few stories have been released by the online media over the past few days. 

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Watched the mtgox video which IG posted yesterday on the EMEA brief yesterday and it was pretty good. Jeremy naylor notes that we’re seeing higher lows which could be the turning point... 

isnt there also supposed to be etf chat coming from the states this month? 

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@PandaFace, the ETF chat has been delayed until late September 2018. We are fast approaching this if not already more or less there. I would expect some news on this near the last day of September or start of October. 

Yes the higher lows should they continue would be very positive. The key is that these higher lows need to continue going forwards as one could argue the long term trend is still down and intact. Specific cryptos need to cross above the 200 day moving average and stay above it. 

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Ripple continues its breakout and is up over 12% at the time of writing.

Its above its 20 and 50 day moving averages which is positive. Trend followers and traders may consider long positions. If it crosses it 100 day moving average then Ripple could get very interesting.

Ripple has one unique characteristic. It is more of a centralised cryptocurrency than a decentralised cryptocurrency based on the blockchain. Now some may argue this is not in Ripple's favour and others will differ. Only time will tell. Once must keep an open mind when entering the 'unknown' here. 

Please see chart below.

Ripple_20180920_17_33.png.19b6fed39ff059857d5fd003fce1d920.png

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Ripple is literally on fire at the moment and travelling like a rocket. It is over 20% up at the time of writing. 

The article below may be sometime to do with it. It seems the speculators are positioning themselves early so that they can sell when the herd arrive. 

Ripple Plan to Use XRP Sends Cryptocurrency Soaring

https://www.bloomberg.com/news/articles/2018-09-20/ripple-rallies-on-optimism-the-cryptocurrency-finds-a-home

The chart above that I posted is obsolete already! It has broken through the 100 day moving average. This means not only speculators but trend followers will be entering. As the price increases the trend followers will buy more thus driving the prices up at least until next month when any potential announcements are made. 

Edited by TrendFollower

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I have posted a link (below) to an article which I found very positive towards Ripple. Of course one must take with a pinch of salt such articles but it does make some very interesting points on why Ripple may succeed.

The price action is telling a story for those who like or wish to read such stories!

Why Ripple is said to be the next Bitcoin

https://thenextweb.com/contributors/2018/09/21/why-ripple-is-said-to-be-the-next-bitcoin/

 

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Apologies @JamesIG, but Ripple has just overtaken Ethereum by market cap and is now the second largest Cryptocurrency after Bitcoin. 

Therefore the title of the thread could also be:

Ripple Overtakes Ethereum to Become the Second Largest Cryptocurrency After Bitcoin

The article below highlights this nicely:

Ripple Passes Ethereum to Claim Number Two Ranking on CoinMarketCap

https://cointelegraph.com/news/ripple-passes-ethereum-to-claim-number-two-ranking-on-coinmarketcap

 

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@PandaFace, otherwise there ends up being more threads for the sake of more threads.

I think it would be beneficial to have discussions on Ripple with different posters on the same thread and people can join in as and when to the discussion.

New threads will segregate the arguments and posts. 

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If Ripple can surpass its recent high then this will be extremely positive. I am sensing a potentially positive environment for Cryptocurrencies to the run up to December 2018 unless there is bad news of course!

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Ripple's chart seems to be behaving slightly different to the likes of Bitcoin, Ether, Litecoin, Bitcoin Gold and Stellar.

There could be several factors for this and below are just some of my thoughts (thinking out aloud):

  • More positive news on Ripple recently
  • More positive news expected in the near future for Ripple
  • Ripple is cheaper to physically purchase than the likes of Bitcoin
  • Ripple is the only centralised option which differs to the decentralised options (investors and traders may think Ripple may fill the gap before eventually arriving at the decentralised option)
  • Traders finding trading Ripple cheaper than the likes of Bitcoin due to margin requirements
  • Traders and investors alike may feel that there is more growth to come from the likes of Ripple than Bitcoin due to the partnerships that Ripple is involved in 

These are just some thoughts and it may be that Ripple ends up being the worst performing crypto over the next 12 months but it is certainly leading the race at the moment out of the big five in terms of performance. 

If anyone else has any other views they wish to share or has any other insight on Ripple then please do post them here.

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I found a potential pattern on the charts of Ripple which could lead to another move downwards. I have highlighted it using arrows in the chart below.

Now it may be that the next move downwards is less than after the first arrow or it is a mere coincidence and Ripple continues moving upwards. It will be interesting to see. 

Ripple_20181018_05_21.thumb.png.be516b9a77d9d17c435eff5e1ca1c68c.png

 

Edited by TrendFollower

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Ripple is currently trading above its 20, 50, 100 and now just surpassed its 200 day moving average. 

I have opened a long position on Ripple. It is up 9% today and the chart is looking far stronger than other Cryptocurrencies with Stellar following it nicely. 

There have been some very positive news releases regarding Ripple too which have supported the price rises after the consolidation period.

I also wanted to get in as early as possible in case there is a monster rally and certainly before the 'herd mentality' decide to join the party. 

The risk is a sharp trend reversal which stops me out. Therefore my stop is more wider than I usually would like to ensure I don't get stopped out due to the volatility which can be vicious in Crypto trading. I fully expect there to be sharp corrections along the way unless the reported decline in volatility in Bitcoin et al is seen going forwards. 

Edited by TrendFollower

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STELLAR and RIPPLE are the only Cryptocurrencies at the moment that are trading above their 20, 50, 100 and 200 day moving averages that are offered on IG's Spread Betting platform.

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Hmm, I'd been inclined to wait for a confirmed breakout of the Triangle consolidation myself @TrendFollower.  Not sure I see a trend change yet.  In such a long Daily consolidation phase the MAs all start to converge and a small price increase can pop above MAs and then go back down.  Out of interest where did you place your stops (as it where on the chart)?

XRPUSD-Daily.thumb.png.2c76d341420e7a9632f062693f2b863d.png

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@Mercury,

I am more than happy to share my personal trading information such where I set my stop losses but I too out of interest would like to know what asset you open a trade on next (both long and short) and at what price you enter and at what price you set your stop loss. 

Let me or the IG Community know and I am more than happy to share my stop loss details if I am still in Ripple due to extreme volatility that is possible or sharp trend reversal which is just as likely.

Make no mistake this trade along with Stellar is extremely high risk at this juncture. However, I wanted to put 'my money were my mouth is' and share actual physical trades with the IG Community. This is one area which still needs to improve. Posters on the IG Community need to share actual physical trades like I have done on Orange Juice, Lumber, etc. in the past. 

I am sure if one looks hard enough then there will be something that one can trade based on 'technical indicators'. I look forward to seeing trading details of others so that I too can learn and improve.?

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Ok but I have annotated my charts with Longs and Short before but see below my current focus, which is the EURUSD

I went Long on the breakout of the 4 Hourly Triangle, with stops just below the recent low turning point, which I took to be my Wave B (blue) change in ST trend.

I went long on the retrace back to the Fib 62% (my wave 2 green) on a very tight stop as a retest of the next level down was very possible but the rest of my criteria were met so I took it.

I went long on a breakout of the Daily Triangle with an overnight automated trade and wider stop to below the Monday 5PM low

Now I have a stop in long above over head resistance with stops below the Daily Triangle in case of retrace retest but I think we have already had it.  I am break even on the first few trades to reduce exposure and risk of reversals.

EURUSD-1-hour_071118.thumb.png.abaa91b092f7841a3ea6ec103dad7663.png

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