Summary:
XRP is forming a macro cup and handle on strengthening fundamentals. This formation is highly constructive and depending on the timeline it takes to resolve, XRP could easily be at $19 by February of 2022 or $57 by July of 2023.
Catalysts:
-Jeb McCaleb's supply will be exhausted by Q4 FY2021 to Q1 FY2022
-SEC Enforcement action resolution within 18 months
-Continued increase in daily exchange volumes
-Rapid development of other use cases/functionality around the asset by Ripple, Flare, XUMM, etc.
Details:
XRP is the 8th largest cryptocurrency by daily trading volume at time of publishing, however has remained in the top 10 and even top 5 for its lifetime as a crypto. It is listed on over 200 exchanges worldwide and its daily volume continues to grow as the market evolves. While XRP has encountered some resistance in the US markets as a result of the SEC's enforcement action, it continues to trade billions of USD value daily. The sheer resilience of XRP amidst the world's most powerful regulator hints at its truly decentralized nature (no single government can stop it).
Regardless of the outcome of the SEC case, 90+ percent of XRP's daily volume comes from outside of US borders and will continue its rapid growth. This combined with strengthening supply fundamentals as founders exhaust their supply, should drive the prices well beyond ATH.
Daily wallets continue to increase at a rapid pace, and many new projects such as Flare, Songbird, XUMM, Hooks, etc continue to evolve around the asset further strengthening its capabilities as a sustainable cryptocurrency.
Conclusion:
While XRP got a late start this bull cycle, it is heating up with lots of interest from multiple communities; including the bitcoin community. This increased interest along with the resolution of supply issues and enforcement issues could very well have XRP pop back into the top 3 within the next 12-18 months. One thing is certain, we will soon know how important XRP will be in the world's future within the next 18 months as these situations resolve.
Disclaimer:
This is not financial advice. All views are opinions and speculative in nature. You should not make investment decisions based on this analysis and opinions. Consult a financial advisor before making any investment decisions. The author of this article holds XRP as well as other crypto-assets.
XRP is forming a macro cup and handle on strengthening fundamentals. This formation is highly constructive and depending on the timeline it takes to resolve, XRP could easily be at $19 by February of 2022 or $57 by July of 2023.
Catalysts:
-Jeb McCaleb's supply will be exhausted by Q4 FY2021 to Q1 FY2022
-SEC Enforcement action resolution within 18 months
-Continued increase in daily exchange volumes
-Rapid development of other use cases/functionality around the asset by Ripple, Flare, XUMM, etc.
Details:
XRP is the 8th largest cryptocurrency by daily trading volume at time of publishing, however has remained in the top 10 and even top 5 for its lifetime as a crypto. It is listed on over 200 exchanges worldwide and its daily volume continues to grow as the market evolves. While XRP has encountered some resistance in the US markets as a result of the SEC's enforcement action, it continues to trade billions of USD value daily. The sheer resilience of XRP amidst the world's most powerful regulator hints at its truly decentralized nature (no single government can stop it).
Regardless of the outcome of the SEC case, 90+ percent of XRP's daily volume comes from outside of US borders and will continue its rapid growth. This combined with strengthening supply fundamentals as founders exhaust their supply, should drive the prices well beyond ATH.
Daily wallets continue to increase at a rapid pace, and many new projects such as Flare, Songbird, XUMM, Hooks, etc continue to evolve around the asset further strengthening its capabilities as a sustainable cryptocurrency.
Conclusion:
While XRP got a late start this bull cycle, it is heating up with lots of interest from multiple communities; including the bitcoin community. This increased interest along with the resolution of supply issues and enforcement issues could very well have XRP pop back into the top 3 within the next 12-18 months. One thing is certain, we will soon know how important XRP will be in the world's future within the next 18 months as these situations resolve.
Disclaimer:
This is not financial advice. All views are opinions and speculative in nature. You should not make investment decisions based on this analysis and opinions. Consult a financial advisor before making any investment decisions. The author of this article holds XRP as well as other crypto-assets.