Linked TradingShot's original idea below... check it out!
Congrats to everyone who made it through the 3 years of a Bear Market! We did it!
As much as I hate to say it, BTC is in fact King... For this reason, I'm always interested to see the timing of big XRP moves in comparison to BTC historically (as a fractal seems to be playing out here).
As seen in the chart, the recent XRP price drop to sub 50 cents made sense. Last time Bitcoin hit a new ATH, XRP's price had dropped 85% from its own old ATH. As seen in the current cycle, same % was hit. As much as we bled the past few weeks, I'm glad to see the similarities.
Now, as for the next 4 weeks... well, we will learn a lot. In the prior cycle, it seemed that Bitcoin climbed a bit past its ATH, and then saw a steep correction across 4 weeks. During those same 4 weeks, BTC Market Dominance dropped from 95% to 80%, while XRP's Market Dominance jumped from 2% to 12% (Check out my last post). Could we see another big BTC selloff and re-entry into XRP? If we do, then I don't see why XRP shouldn't break it's past ATH of $3.50.
Going to be keeping a close eye on this and I sure wouldn't be too upset if this $900 Billion US stimulus package gets approved. In addition, there are lot's of talks about crypto regulations coming early next year and I actually think that will end up helping our price in the long run (Just don't make me pay more in taxes!! Please and thank you!).
Let's enjoy the next 10 months... going to be fun!
Congrats to everyone who made it through the 3 years of a Bear Market! We did it!
As much as I hate to say it, BTC is in fact King... For this reason, I'm always interested to see the timing of big XRP moves in comparison to BTC historically (as a fractal seems to be playing out here).
As seen in the chart, the recent XRP price drop to sub 50 cents made sense. Last time Bitcoin hit a new ATH, XRP's price had dropped 85% from its own old ATH. As seen in the current cycle, same % was hit. As much as we bled the past few weeks, I'm glad to see the similarities.
Now, as for the next 4 weeks... well, we will learn a lot. In the prior cycle, it seemed that Bitcoin climbed a bit past its ATH, and then saw a steep correction across 4 weeks. During those same 4 weeks, BTC Market Dominance dropped from 95% to 80%, while XRP's Market Dominance jumped from 2% to 12% (Check out my last post). Could we see another big BTC selloff and re-entry into XRP? If we do, then I don't see why XRP shouldn't break it's past ATH of $3.50.
Going to be keeping a close eye on this and I sure wouldn't be too upset if this $900 Billion US stimulus package gets approved. In addition, there are lot's of talks about crypto regulations coming early next year and I actually think that will end up helping our price in the long run (Just don't make me pay more in taxes!! Please and thank you!).
Let's enjoy the next 10 months... going to be fun!
