So, let's analyse Ripple again. I haven't analyzed Ripple in quite a while, which is unfair, since I made tha largest part of my profit in 2017/18 with XRP.
I entered back then at 0.25 USD, and sold from 2.85 to 3.35 USD, which was the best trade of my life until now. Actually, I owe my financial freedom in the largest part to XRP.
So, what's the status of our favorite centralized scam-coin? Just kidding lol. I think XRP will have a strong use-case in the future, since banks actually do like its centralized nature.
Well, in 2014-2017, XRP saw a quite steady price with a strong baseline support. It did a nice logarithmic decline, a fake-breakout of course also had to be, a bulltrap of epic proportions.
Then finally the breakout from this declining triangle. And then? The XRP rally that many are posting here on tradingview? NO! Boring ranging for over 1 year !!!! Because altcoins wait for papa, Bitcoin. Only when papa tells: NO little children, now you can go play! Only THEN do altcoins start.
So, when bitcoin starts a rally, altcoins have a delay, and first will go sideways in USD terms. In ratio to BTC they first decline. Then after some months, the insane rally starts.
XRP broke out of the range in 2017, and made a nice total of almost x800 from the lowest support to the peak.
If it was to do the same again in the next rally, we could see an incredible 100 USD per ripple. Which is not unreasonable if you think that BTC will probably be at 150-200K USD.
So, there you go. This is in fact how I think that i will play out and I will of course act accordingly. Having ripple in ones portfolio, will be an extremely nice feeling in 2022-2023 ;)
I am short because expecting the longterm support at 0.13 USD, long ONLY when it breaks the range at some point in the next years. Probably in 2021-2022. It will then rally a bit longer, because the altcoins become also slower as they grow.
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False breakout is indeed forming. However, the moment BTC starts dropping again, XRP will tank insanely:
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Time to update our good old friend XRP again, our favorite scamcoin. Just kidding, I love this coin, even though it's centralized, it has HUGE potential for gains. It is like a sleeping dragon this beast.
Anyways, as predicted, this was a nice false breakout from the log resistance. And as all other altcoins, XRPUSD is also just a little baby of BTC. If papa BTC dumps, all other alts follow, XRP is no different.
So, here is the update in daily view, if BTC continues to dump, this is what will (likely) happen:
Strong support at 0.13 USD.
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Apparently this view here is the right one.
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We are still RIGHT ON TRACK ! I have to downcorrect the peak of the XRP peak though. 100 USD might have been too optimistic.
I think 30-50USD are much more realistic.
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Despite the latest shakeout, we can see that this old chart still holds true. XRPUSD still ranging in that channel as I predicted almost 2 years ago.
I still believe that this is a giant shakeout, and not much more. When only total hardcore XRP holders are left, then the rally can start.
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IT IS STARTING.
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We are now about to spike to the 8-12 USD area, as foreseen over 2 years ago. And then people say coins are unpredictable.
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Well bitcoin's weakness destroyed our pump to 12 USD, this is now delayed.
See this analysis here for what I think is going to happen with XRP now:
it's all so easy, just do as we say, you will be rich too
hark the black goat of the forest calleth
we are the shoeshine boys, these are out charts
SebastianofMoon
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@barclayjames, Your chart above looks excellent, thanks for the share. The similarity between XRP and BTC is interesting. Another fractal to closely watch.
The_Crypto_Weatherman
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very strong analysis
malk
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0.375 will be tough to crack, maybe small chance of seeing 0.4 but not much more IMO.
RealMcafee
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btc money will move into xrp and shorters will be insanely rekt.... at least that is another viewpoint :)
SebastianofMoon
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@barclayjames, Thanks for your view :) A valid view, however I tend to think that in the end, all altcoins follow BTC, no matter what features they have, and how good they are. But I might be proven wrong :)
ForexThief
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Great analysis! Check my extended analysis on XRP (not so longterm, but yea, expecting more bearish movement)
SebastianofMoon
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@ForexThief, Thanks for sharing your analysis! Yes, this looks promising, a triangle is in the making. It might do a fake-breakout to the upside, coins like to do that often, just to then dump afterwards. I also expect the strong support of ripple in the 0.10-0.15 USD area. I think 0.10 USD is rock solid.
malk
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Great idea for long term. I also think we are on the cusp of a major rally before further downside + boring sideways.
we are the shoeshine boys, these are out charts
999-bathomet-666-shmita
the Temple shall we rebuild in but 3 days
ziggurat-baal-lover-333
the moon and ishtar
it's all so easy, just do as we say, you will be rich too
hark the black goat of the forest calleth
we are the shoeshine boys, these are out charts