Here is the technical case for how XRP could possibly rise to $440. Now before we get into the analysis, I know there will be people who comment how that would make XRP worth trillions (around $20 trillion according to my calculations) and that such a feat is impossible for a cryptocurrency like XRP. I just want to end that argument by reminding everyone that the global money supply is constantly expanding. A $20 trillion dollar XRP market cap would be hard to imagine with the current global monetary supply, but the global monetary supply already appears to be entering a period of accelerated expansion. Continuous printing and runaway inflation could easily make this a possibility, and with the looming global debt crisis in the background, nothing is beyond the realm of reason.
As you can see, in 2015 XRP had an extended bear market that was strikingly similar to the one we've been in since 2018. The current market formed a similar base (green rectangles) as well as falling overhead resistance (blue trendlines,) and when XRP broke out above that falling blue trendline in 2017, that was the signal that the new bull market had begun. Looking at today's price action, we can see that the similarity is undeniable. Price has exploded above the falling blue trendline, just as it did in 2017, which shows that there is an extremely high probability that we are just entering a massive new bull market.
Now, if we look back to the initial breakout from 2017, we can see that the first resistance level was at the 2.618 retrace. Currently, the 2.618 retrace is above $9! So, if XRP is going to perform similarly, we would need to see a massive rally to $9 in the near future. From there, we saw XRP eventually rise to the 16 retracement, and then the 128, which is interesting to me because 128 is a multiple of 16. Anyway, if XRP performs similarly, it would then rise to the $55 level (the 16 retracement) and then eventually to the $440 level (the 128 retracement.)
Accumulation levels (not shown) have already broken out to new all time highs, just as they did after XRP broke out above the overhead resistance in 2017, adding to the undeniable similarities between now and 2017. So, there isn't really any technical reason to believe that XRP will perform worse than it did in 2017. You may not think XRP can reach $440, but you probably also don't think a loaf of bread could cost $100, $1000, or more. The cumulative purchasing power of fiat currencies around the world is in perpetual decline., and with the debt crisis on the verge of global financial destruction, the simple loss of interest rate control could cause worldwide hyperinflation. $440 XRP is most certainly feasible.
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
As you can see, in 2015 XRP had an extended bear market that was strikingly similar to the one we've been in since 2018. The current market formed a similar base (green rectangles) as well as falling overhead resistance (blue trendlines,) and when XRP broke out above that falling blue trendline in 2017, that was the signal that the new bull market had begun. Looking at today's price action, we can see that the similarity is undeniable. Price has exploded above the falling blue trendline, just as it did in 2017, which shows that there is an extremely high probability that we are just entering a massive new bull market.
Now, if we look back to the initial breakout from 2017, we can see that the first resistance level was at the 2.618 retrace. Currently, the 2.618 retrace is above $9! So, if XRP is going to perform similarly, we would need to see a massive rally to $9 in the near future. From there, we saw XRP eventually rise to the 16 retracement, and then the 128, which is interesting to me because 128 is a multiple of 16. Anyway, if XRP performs similarly, it would then rise to the $55 level (the 16 retracement) and then eventually to the $440 level (the 128 retracement.)
Accumulation levels (not shown) have already broken out to new all time highs, just as they did after XRP broke out above the overhead resistance in 2017, adding to the undeniable similarities between now and 2017. So, there isn't really any technical reason to believe that XRP will perform worse than it did in 2017. You may not think XRP can reach $440, but you probably also don't think a loaf of bread could cost $100, $1000, or more. The cumulative purchasing power of fiat currencies around the world is in perpetual decline., and with the debt crisis on the verge of global financial destruction, the simple loss of interest rate control could cause worldwide hyperinflation. $440 XRP is most certainly feasible.
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-