After such growth, a retrace is 100% normal and is now taking place. So Ripple is correcting to consolidate the last wave, but additional growth is possible.
Here is our latest long-term XRPBTC chart:
The following signals are coming from the chart:
- Bullish/green is dominant, the bulls are in control.
- The reached a low in early August, it has been moving up since.
- The reached a low in early July, it has been moving up since.
- XRPBTC is now trading above EMA10 on this timeframe (weekly). This is a strong signal. If XRPBTC moves and closes below EMA10 (0.00003149), more additional drop is possible, above this level means that it can continue to grow.
- The Dec. '17 support has been activated and XRP had a strong bounce once this level was hit. Back in 2017, XRPBTC went on a massive bull run after this level was conquered.
On the chart above, you can see the profits potential from the current price to the next strong resistance (150%), to the next Fib. extension high (430%+), and to XRPBTC All-Time High (620%+).
What's your take on where Ripple is headed next year?
Share your thoughts and charts in the comments section below.