Why The Incoming Ripple (XRP) Pump Failed Despite Good News?

in #blockchain8 years ago

Well FOLKS, thinking when you will be bagging you profits from XRP?
You might had if you were on the right side, but the XRP pumped failed fast.

The data below shows the chart from Poloneix
2017-06-03 09_02_43-0.00011202 XRP_BTC Market - Poloniex Bitcoin_Cryptocurrency Exchange.png

As you can see how the price pump started from beginning, and rose from 0.00009200 BTC to a top around 0.00014210.
Well, then the pump was withdrawn as the currency didn't get much attention.

But the most significant reason was lack of buying pressure building up. People are still holding their XRP from last pump where it went ATH to 0.00024 BTC. The orders clearly shows people have not dumped them in loss and are keeping them for long. 2017-06-03 09_02_58-0.00011202 XRP_BTC Market - Poloniex Bitcoin_Cryptocurrency Exchange.png

As you see the red (sell) area v/s the (green) buy area you can see the selling pressure is huge and XRP had hard time fighting it.

Do I see XRP price increasing?
Yes, I do but not now I say it will at least take 2,3 weeks and gonna touch at least 0.0002 this time :)

Note : It is just an opinion

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I have been watching closely as well, I'm holding strong and not selling any of my xrp for at least a year.

Many people are holding them still and not selling in loss, this is the main reason it failed. :)

I doubt you will see much explosive growth of ripple until they start to announce contracts with banks.

Their tech is good, very good. But everything they are doing is contingent on banks accepting and using them.

Ripple as a coin is good :) But it was on a pump list which failed :)

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