Well, that may have been short-lived. Ripple (XRP) finally won their lawsuit (kind of) and the price of the coin pumped when the news hit.
Then it....well, nothing much.
Party Over?
Looking at the daily chart above you can see the big green pump candle on the announcement of the decision. Then you can see the big upper wick on said candle.
That has been followed by what looks to be shaping up as two red days in a row.
Granted, this is not out of the ordinary. When a coin price pumps that hard and doubles in a day there tens to be profit taking.
In my opinion, not very surprised that there wasn't much follow through. At the end of the day, the ripple coin isn't used in their payments systems that corporations/banks are using or are candidates to use from the last I was aware of.
So then, what is the bullish catalyst behind the coin on a grand scale?
Please share your knowledge on this in the comments as I sincerely want to know this information.
In the meantime though, wishing I pulled the trigger on a short trade at .80 cents. Seemed a good chance for quick easy profits. Oh well, there is always another time and another coin.