XRP Is Preparing for a Huge Run on BTC (Harmonic Analysis)

May 13, 2019

XRP is in Harmonic reversal zone. As long as it stays above 4000 satoshi then we should see a massive reversal happening very soon. We've already had a nice stop run too. Last time XRPUSD (orange) and XRPBTC diverged this much, XRPBTC went up 2000% in less than a month. As BTC continues to push up on its own it will be perceived as being more expensive compared to these alternatives that have remained relatively flat against the dollar, and when many cryptos finally break out of their accumulation zones there will be a lot of FOMO as they move very quickly and a lot of dry powder from BTC profits will be poured into cryptocurrencies that are fundamentally superior like XRP. People tend to buy BTC first because it's what they're familiar with and it's the easiest way to enter into the crypto ecosystem, but once you're in the ecosystem it's very easy to convert from one coin to another, and once people become more familiar with the advantages of faster and cheaper fee currencies they'll quickly switch over again.

In particular, the average transaction fee chart should worry Bitcoiners because it shows that the average transaction fee follows the price, so as price approaches ATH, so will the average transaction fee. The ATH transaction fee on BTC is around 54 USD per transaction. That is not viable as a currency. You can even see the average fees are the highest they've been since march 2018 and are following the price upwards: bitinfocharts.com/comparison/bitcoin-transactionfees.html

People will quickly switch to cheaper, faster alternatives when the fees on BTC become ridiculously high again. And it won't be long before we see 10+ USD fees on BTC, and the lightning network is still not ready for full scale adoption (2 years later)...