Update on XRP: Huge breakout coming in 2020
Hello,
it's time to take another look at the sleeping giant XRP.
XRPBTC has been doing a gigantic falling wedge since 2 years now, and the wedge could potentially still drag on for almost the entire year 2020.
The latest possible date for this huge breakout will be November 2020.
It of course depends entirely on what BTC is doing, because all alts are just still following BTC mostly.
If BTCUSD hits the old all time high of 20k earlier than expected, we should also assume that XRPBTC will have the breakout sooner.
Last time, XRP only started going vertical AFTER BTC hit the old all-time high, so in early 2017 the first pump, the second big one in early 2018.
If XRP does a double pump feature again this rally, it could go something like drawn here.
Now what does this mean for XRPUSD?
It means we'll stay mostly flat for the whole time until BTC hits 20k, so in the range 0.15 to 0.5 USD. Hard to say where exactly, but in this channel.
I don't think it will make a new low, because BTC probably won't fall much any more.
For XRPUSD this means, the first pump could go as high as 3-5 USD, the second one then (when BTC is at 100k), up to a maximum of around 50 USD sometime in 2021.
it's time to take another look at the sleeping giant XRP.
XRPBTC has been doing a gigantic falling wedge since 2 years now, and the wedge could potentially still drag on for almost the entire year 2020.
The latest possible date for this huge breakout will be November 2020.
It of course depends entirely on what BTC is doing, because all alts are just still following BTC mostly.
If BTCUSD hits the old all time high of 20k earlier than expected, we should also assume that XRPBTC will have the breakout sooner.
Last time, XRP only started going vertical AFTER BTC hit the old all-time high, so in early 2017 the first pump, the second big one in early 2018.
If XRP does a double pump feature again this rally, it could go something like drawn here.
Now what does this mean for XRPUSD?
It means we'll stay mostly flat for the whole time until BTC hits 20k, so in the range 0.15 to 0.5 USD. Hard to say where exactly, but in this channel.
I don't think it will make a new low, because BTC probably won't fall much any more.
For XRPUSD this means, the first pump could go as high as 3-5 USD, the second one then (when BTC is at 100k), up to a maximum of around 50 USD sometime in 2021.
Comment:
Comment:
Still perfectly on track. BTCUSD rising, XRPUSD staying the same now, XRPBTC therefore falling, exactly as predicted.
Breakout for XRPUSD and XRPBTC when BTC hits 20k.
Breakout for XRPUSD and XRPBTC when BTC hits 20k.
Comment:
We are still on track. The breakout will happen as soon as BTC reaches the 20k area.
Back in 2019 when everyone was thinking a huge XRP pump would be coming, I cautioned that XRP behaves differently than most coins.
It likes drawing giant falling wedges in XRPBTC, it did so a few times since 2013 already.
So now that BTC seems to finally start pumping, in case BTC will really now enter a bullmarket, which becomes very likely over 10k, then XRPBTC will start falling more. XRPUSD will remain about constant. We can expect XRPUSD to hover around 30 cents plusminus for the entire BTC rally, which will of course extremely annoy some people.
Then, when BTC hits 20k, and then probably will dump, consolidate and need another try to take the 20k which I think might happen by the end of the year, only then will XRP pump.
And the XRPBTC wedge tells us also that this will be the case by the end of the year. Patience is always key.