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Investment Disclaimer:
- I am not a registered investment, legal, or tax adviser or a broker/dealer, and all opinions expressed by me are from my research for educational purposes only.
- Past performance presented here is not an indicator of future performance.
- This post expresses my own opinion about the cryptocurrency mentioned herein and is not an offer to buy or sell, or a solicitation of any offer to buy or sell the cryptocurrency mentioned in this post.
1A. Top 3 Good News for XRP HODLERS !!!
XRP Set for Massive Breakout With Altcoins Poised to Steal the Show From Bitcoin, Predicts Top Crypto Analyst
Statistic as of 2021-11-05 09:14 AM EDT: 43 positive votes, 4 negative votes
One closely followed crypto analyst is bullish on XRP and thinks that altcoins are in a prime position to outpace Bitcoin (BTC). The pseudonymous analyst known as Credible Crypto tells his 257,400 Twitter followers that XRP’s price structure looks very similar to data-sharing protocol OriginTrail, whose native token TRAC just rallied more than 300% following […]
(Extracted from Crypto Panic
Discussing XRP price action, Belfort says he’ll ‘settle for $10,’ reveals holdings
Statistic as of 2021-11-05 09:14 AM EDT: 22 positive votes, 3 negative votes
It is no surprise that the now infamous ‘Wolf of Wall Street,’ Jordan Belfort was trotting through the cryptocurrency landscape. However, his next prediction for XRP left many puzzled, and many others, excited about what this could mean for the market. Belfort’s bag of XRP Belfort took to Twitter to offer updates to his followers […]
(Extracted from Crypto Panic
XRP On-Chain Data Flashing Signal That Historically Leads To Price Rises: Santiment
Statistic as of 2021-11-05 09:14 AM EDT: 17 positive votes, 0 negative vote
Blockchain analytics firm Santiment is predicting that, based on two metrics, XRP Ledger’s native asset (XRP) could go up in price. Santiment says on Twitter that an increase in the number of addresses on the XRP Network and a rise in social media mentions signals that XRP’s value could increase. “XRP is getting increased social […]
(Extracted from Crypto Panic
1B. Top 2 Bad News for XRP HODLERS !!!
11 Million XRP Stolen by Hackers from Liquid Exchange Along with Other Crypto Worth $80 Million
Statistic as of 2021-11-05 09:14 AM EDT: 2 positive votes, 19 negative votes
Hackers have moved an $80 million worth of crypto assets from Liquid, including 11 million XRP, according to Whale Alert
(Extracted from Crypto PanicFormer federal prosecutor says SEC will go to any length to control entire crypto space
Statistic as of 2021-11-05 09:14 AM EDT: 5 positive votes, 16 negative votes
Following the Securities and Exchange Commission (SEC) threat to sue Coinbase, a Nasdaq-listed crypto-exchange, a former federal prosecutor has hit... Continue reading
(Extracted from Crypto Panic
2. How Ripple Performs Relative to Other Cryptos ?
As of 04 Nov 2021, Ripple has made a cumulative return of 606.7% since Jan 2020 and 492.43% since Jan 2021. It is currently the 9th greatest performing crypto asset since Jan 2021 as compared to the other cryptocurrencies presented above.
3. Technical Analysis on Ripple
3.1. Volume Weighted Average Price (VWAP)
VWAP is a technical indicator used by a trader to gauge the overall trend of an asset price movement. VWAP line (orange line) represents the volume-weighted average price (average price here is defined as the average of high, low and close prices) while close price line (blue line) represents the price when XRP is closed at the end of every single day.
Whenever blue line (close price) is above orange line (VWAP), it indicates that the asset is gaining momentum and being traded higher than its average price level. This would represent a 'buy' opportunity for short-term momentum trader whom task is to trade following the trend while a longer term mean-revision trader might take it as a 'sell' opportunity, anticipating that the price of XRP (blue line) to fall to its average level (orange line).
Whenever blue line (close price) is below orange line (VWAP), it indicates that the asset is losing momentum and being traded lower than its average price level. This would represent a 'sell' opportunity for short-term momentum trader whom task is to trade following the trend while a longer term mean-revision trader might take it as a 'buy' opportunity, anticipating that the price of XRP (blue line) to rise to its average level (orange line).
As of 04 Nov 2021, VWAP is suggesting that XRP has been gaining significant momentum.
3.2. Moving Average Convergence Divergence (MACD)
MACD is often used by trader as a momentum indicator. There are 2 lines that form the above charts, namely MACD (12, 26) lines and Signal(9) line, while the histogram is calculated by subtracting Signal (9) from MACD (12,26). Histogram would fall to the negative territory whenever MACD (12, 26) is trending at a lower level than Signal (9) and rise to the positive territory whenever MACD (12,26) is trending at a higher level than Signal (9).
MACD (12, 26) is computed by subtracting the 26-day exponential moving average (EMA) of XRP closing price from its 12-day EMA.
Signal (9) on the other hand is calculated as the 9-day EMA of MACD (12,26).
As MACD (12, 26) goes higher away from Signal (9), it signifies that XRP is gaining momentum and whenever it goes trends at a lower level than Signal (9),it signifies that XRP is losing momentum.
As of 04 Nov 2021, MACD is suggesting that XRP has been gaining significant momentum.
3.3. Bollinger Band
Bollinger band is often being used by mean-reversion trader as a gauge to assess how undervalued or overvalued an asset is. Its chart made up of 4 lines, namely:
- SMA (20) (blue line), which is the 20-day simple moving average price of XRP
- Upper Band (orange line), which is computed by adding 2 standard deviations of XRP on SMA (20)
- Lower Band (red line) , which is computed by subtracting 2 standard deviations of XRP from SMA (20)
- Close (green line), which is the daily closing price of XRP
Whenever close line (green) touches the lower band (red), it indicates that XRP is corrected too much and is being traded at an undervalued level, representing a 'buy' opportunity. On the other hand, whenever close line (green) touches the upper band (orange), it indicates that XRP is gaining too much momentum and is being traded at an overvalued level, thus indicating a 'sell' opportunity.
As of 04 Nov 2021, Bollinger Band is suggesting that XRP is trading at an overbought level.
3.4. Relative Strength Index (RSI)
Just like Bollinger Band, Relative Strength Index is often being used by mean-reversion trader as a gauge to assess how undervalued or overvalued an asset is. There are 2 psychological levels, i.e. 30 and 70 in RSI. Whenever the RSI reaches 30, it indicates that XRP is corrected too much and is being traded at an undervalued level, representing a 'buy' opportunity. On the other hand, whenever RSI reaches 70, it indicates that XRP is gaining too much momentum and is being traded at an overvalued level, thus indicating a 'sell' opportunity.
As of 04 Nov 2021, RSI is suggesting that XRP is neither overbought nor oversold.
Based on the technical analysis presented above, quantdoge thinks that there is a chance for XRP to revert to its lower price level in the short run, but I could be wrong, hence please make your careful due diligence before making any financial decision.
4.Ripple Risk Profile
Based on the 100-day 95% historical Value-at-Risk (VaR) profile of Ripple defined above, XRP seems to trade at a higher risk level on 04 Nov 2021 as compared to 10 days before on 25 Oct 2021, with its biggest pullback being seen at -21.1% on a single day during the last 100 days. However, I could be wrong, hence please make your careful due diligence before making any financial decision.
5. Price Simulation for Ripple
How did quantdoge simulation perform vs the actual XRP price movement over the last week ?
Over the last 7 days, XRP has been trading above the median of quantdoge simulations, indicating that XRP was overbought.
6. XRP Community Analytics
Number of XRP Followers In The Past 24 Months
During the past 24 months, Ripple followers havegrown 130.64 % from 941,543 to 2,171,554 on Twitter and grown 62.25 % from 207,015 to 335,877 on Reddit.
Monthly increment of Ripple Twitter followers peaked on Jun 2021 and its monthly increment of Reddit followers peaked on Feb 2021.
Number of XRP Followers In The Last 30 Days
In the last 30 days alone, Ripple followers have grown 4.5 % from 2,078,019 to 2,171,554 on Twitter and grown 1.14 % from 332,105 to 335,877 on Reddit.
Daily increment of Ripple Twitter followers peaked on 01 Nov 2021 and its daily increment of Reddit followers peaked on 03 Nov 2021.
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