A lot of talk is being made lately regarding Bitcoin's strong rally since early September, with many believing that the All Time High (ATH) of roughly 20k is just around the corner.
However there is one high cap coin that has hardly moved during Bitcoin's recent run and that is Ripple. Why is XRP still consolidating, why is the market extending this accumulation phase while Bitcoin is marching to its ATH?
During the previous Cycle on both coins, when BTCUSD breached its ATH (Feb 20, 2017 1W candle), XRPUSD was still consolidating. 4 weeks later buyers decided to end this accumulation phase and it started a parabolic 2 week jump that ended much higher than its own ATH. Of course history doesn't have to repeat itself exactly as it did in the past, but it is certainly a good point to keep in mind. If BTC breaks above 20k it is possible to see XRP above $3.5 (which is roughly its ATH on an average of exchanges) within 4 weeks.
After all, the Feb 20, 2017 1W candle was the one that kick-started a hyper aggressive bull run on the alt market as a whole as the chart below shows:
So do you believe that Ripple may be closer to its ATH than we think? Feel free to share your work and let me know in the comments section!
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