Upon the first ‘real’ bull run being initiated from 2017, we can note the monthly candle closure settled at $1.97000, highlighting a level significant enough for price to halt momentum and end the month of December 2017 at this price point. Despite the following monthly candle open surging during its initial stages to a peak of $3.3000, price quickly plummeted back below the $1.97000 territory to settle for a January 2018 monthly closure at $1.12500. This represented a significant new wall for the coin, a region that price was orchestrated in such a manner to maintain and put the parabolic bull run to an end.
In 2021, during the month of April, the following bull run came to a halt. From a low of $0.11000 in March 2020, price exploded over 1,690.91%, defying the odds during a time where the uncertainties of the COVID crash diminished faith in the recovery of the Cryptocurrency Market. The bull run came to an end tapping into the prior bull runs monthly candle closure price at precisely $1.97000 level, falling just short of the psychological $2 level, followed by an almost identical series of mirrored monthly candle closures with the 2017 bull run end. The April-May 2021 monthly candle closures replicated the 2017 ATH closures, and depleted slightly to create a new series of closures at the $1.60000 price point. Expanding a new resistance zone from the 2021 highs shows a peculiar pattern of descending highs on the monthly timeframe.
The 2021 high failed to breach the historical ATH monthly closure of $1.97000 printed in 2017. Not only did price fail to break the actual ATH of $3.3000, it also couldn’t break above the settled monthly candle closure price of $1.97000. This means a new lower high was created in 2021. With the market now currently trading at the time of writing around the $0.33333 handle, the 2021 high has been solidified as a new lower high, representing XRP to be in an overall downtrend since the initial 2017 ATH was printed. I believe many have missed this incredibly simplistic but powerful sign presented by the sequence of events that have taken place over the past few years. Whilst many other coins such as BTC continued on to make new highs, XRP remains one of the only coins to be creating overall lower highs and in what is now proven to be a long-term bear market. Whilst price is still significantly higher than its absolute lows, the past 5 years-worth of data now presents us with an insight into this incredibly interesting proposal... To gain access to the next set of conent hit me up to hear my proposal :)
<img src="https://alternative.me/crypto/fear-and-greed-index.png" alt="Latest Crypto Fear & Greed Index" />
In 2021, during the month of April, the following bull run came to a halt. From a low of $0.11000 in March 2020, price exploded over 1,690.91%, defying the odds during a time where the uncertainties of the COVID crash diminished faith in the recovery of the Cryptocurrency Market. The bull run came to an end tapping into the prior bull runs monthly candle closure price at precisely $1.97000 level, falling just short of the psychological $2 level, followed by an almost identical series of mirrored monthly candle closures with the 2017 bull run end. The April-May 2021 monthly candle closures replicated the 2017 ATH closures, and depleted slightly to create a new series of closures at the $1.60000 price point. Expanding a new resistance zone from the 2021 highs shows a peculiar pattern of descending highs on the monthly timeframe.
The 2021 high failed to breach the historical ATH monthly closure of $1.97000 printed in 2017. Not only did price fail to break the actual ATH of $3.3000, it also couldn’t break above the settled monthly candle closure price of $1.97000. This means a new lower high was created in 2021. With the market now currently trading at the time of writing around the $0.33333 handle, the 2021 high has been solidified as a new lower high, representing XRP to be in an overall downtrend since the initial 2017 ATH was printed. I believe many have missed this incredibly simplistic but powerful sign presented by the sequence of events that have taken place over the past few years. Whilst many other coins such as BTC continued on to make new highs, XRP remains one of the only coins to be creating overall lower highs and in what is now proven to be a long-term bear market. Whilst price is still significantly higher than its absolute lows, the past 5 years-worth of data now presents us with an insight into this incredibly interesting proposal... To gain access to the next set of conent hit me up to hear my proposal :)
<img src="https://alternative.me/crypto/fear-and-greed-index.png" alt="Latest Crypto Fear & Greed Index" />