Need a clue about Alt Coins? Watch the Ripple…

At a time when Bitcoin was at the peak as big brother, and Etherum was second to only one (Bitcoin), Ripple (XRP) was the dark horse which came from behind to upheave Etherum from the second spot in market cap. This was mostly due to hype about its use case as a disruptor of transactions in the lies of Visa and Mastercard. Today, Ripple remains on my watch list as an undervalued alt coin that has yet to see its due recognition, and is probably way before its time. Cheap is underestimating the coin at present and, particularly, future value.

Below is the chart of Ripple, XRPUSD, yesterday evening. Notice in the 4hour chart, for the latter part of January 2019, XRPUSD was dropping while the MACD was having a bullish divergence. Then an initial spike ensued with the MACD pivoting higher, and this time, price had a higher low. Once there was a cross over in the MACD, and a concomitant break of the 55EMA, a Buy signal was triggered.

As shown in a more updated and zoom in chart, the divergence and breakout is now resulting in a bigger picture breakout.

The daily chart currently has a breakout off a triangle and the projected upside target is marked. This is about a 60% upside target; backed by a bullish divergence in the daily chart and a triangle breakout. Further validation to indicate that it is on track would be the next breakout above the 55EMA, and then maintaining above 0.36, and a breakout above 0.40 for a new higher high. Risk to the downside is to be below the last low, or base of the triangle. This gives an awesome risk reward ratio, despite in a bear market of sorts.

Something to reconsider or at least watch for developments, isn’t it?

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