From the contraction in the charts below it looks like we're due for a move very soon; at least sometime over the next few days.
Based on previous chart analysis (not mine) RDD is said to currently be in an extended consolatory fourth wave of a larger fifth wave movement. Based on that analysis, price is likely to go up. On the other hand, the contracting pendant in the charts below is descending and therefore possible to fall further south.
It should be noted that they are very close to releasing a mobile wallet, a web wallet, and of course, their shining jewel: Redd-ID, as well as Core 2.1 updates for much faster blockchain sync times so even if the break from the pendant sends the price down, I will be thinking of it as a buying opportunity.
Hourly chart:
Daily chart:
All information above is based on my analysis only and does not constitute financial advice. Please invest/trade responsibly.
Donations welcome:
Reddcoin (RDD): RpFqLUX1TV9Lf8wpYrW4SNUtw2rw1jLMcZ
Bitcoin (BTC): 181N6nFifnQ8nACkHCSqVPJpHggYcSFsZZ
Litecoin (LTC): LhrJikm8DnQNqzTRAvBcapbcGqLQDVLm8T
Ethereum (ETH): 0xeb7fe37ca144998d3ca59b16bc2e55e7a3b8c21a
Ethereum Classic (ETC): 0xb3afc588156ccc4208375682b21ff15ee553007c
(edit: added donation addresses)
I like ReddCoin , I see a lot of potential if they can deliver
The potential is huge, I agree.
I stays stacking my RDD ;)
Resteemed
Can't wait for the Wallets and other great things to come along
Thank you, kind sir.
@devilbond A lot of people see Reddcoin as a total skunkcoin, but I think the product roadmap needs to play itself out a bit more until people can really make that determination.
Definitely a good time to get the dollar-cost average of current holdings down!
From what I understand there was a change of devs a couple of years ago which delayed their original roadmap. The current lead dev, John Nash, has been working on Reddcoin for over a year, as well as several other contributors. They are very conscious of not over-hyping it before it is ready.
The choices to not hype it too much and rush their product releases looks like it's annoying a few RDD holders as they want the price to soar asap. I believe people are adjusting to the new-normal of double-to-quadruple digit profit increases in a matter of days-to-months and are simply losing patience.
Taking a step back, I kind of admire the restraint of the devs. It really shows they are looking at the big picture and playing for the long term - which is something anyone with serious hopes for this coin should be very excited about.
If you want to learn more, their forums at http://reddcointalk.org are quite active.
EXCELLENT REPLY AND VERY TRUE
I understand that Reddcoin wants to gear itself towards social media outlets but at this time, I'm not really sure what it can do thats any different than other coins.
That's exactly what I was thinking, as on the surface that's all it seems to be.
What sets them apart is all centered around their Social-X and Redd-ID efforts. Redd-ID is not released yet, but will be the implementation of a single address or selected namespace that you use across all social media from which you can send/receive tips. So ease of use should be fantastic. There is more to it than that, but that's all I understand well enough to talk about! :)
Namespaces mean that instead of '98hDwv9G8h8io0Z80v3n80 sent 200RDD to 10Hhz30d2j9jdksiuo8hHkludhgs', it will be 'Legions sent 200RDD to Devilbond', for example. They also have 5% interest earned by PoSV2 which already works on a desktop wallet, and will soon work via a mobile app.
(I'm not affiliated with RDD, btw. Just been following them for a while).
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STOPNice article. Thanks for bringing this to our attention. The coin market will be turbulent for the upcoming year(s) but I really believe in it. We really need more insights in the market and previous investment results (even though they don't deliver any guarantee for the future). Besides coinmarketcap.com there is: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. On: https://www.coincheckup.com/coins/Reddcoin#analysis For a complete Reddcoin Investment research report.