The "Ripple"'s effect

I am writing my analysis on a very popular Cryptocurrency called the Ripple coin on public demand. The coin has a market value of approx $30.9B. There has been a frenzy in the crypto market and Ripple did cause a "ripple effect" in the late 2017. Off late, the coin has seen some major setbacks as did other cryptocurrencies.

There has been a lot of optimism towards the coin and XRP/AUD has touched $1.00 value, which has boosted the morale of many Ripple investors.

The Future of Ripple:

Fundamentally speaking, the coin's focus is on making cross-border payments faster and cheaper. The coin has plans of getting incorporated into the Fed Payments Improvement Program. This will be an evidence of the strength of Ripple for domestic payments. Besides these, Ripple is being added by major App providers, one of them being Revolut.

Now, if we look at the future of XRP/AUD technically, we see that Ripple has hit a 61% retracement since the rise from 4th April. If the coin can sustain 0.9370 level, we can see the start of Wave 3 (bullish) and it will be a good level to buy at that price.