$XRP: Sideways until March 2020, with $30 moon shot EOY 2021 ?
Hi everyone,
Welcome to another macro TA on XRPUSD.
This may be an unpopular chart as it shows very boring movement this year 2019, even until late March 2020. Many weak hands to be shaken off out of despair from a seemingly lost investment. Many in the process will lose faith in XRP as Ripple the company continues to shine with no price appreciation for XRP.
But it is not an unlikely scenario - in fact I am starting to lean towards it as it makes sense on 2 fronts:
1- gravitating around that longterm trendline in boom and bust cycles
2- the length of time it took to takeoff in the previous cycle, also coinciding with late March, going full bull into EOY.
3- XRP going full bull exactly at the time where most retail investors have sold or lost hope, bringing max pain to all.
In this idea, XRP goes in raging bull mode as of late March 2020, hitting a target of $30 per XRP at EOY 2020, then entering another longterm bear market down to around $2.5 (92% decline as in 2018).
N.B. I must note that this analysis is based on a speculative XRP asset, with real XRP utility still being low in the coming year and a half. If otherwise XRP becomes widely used and adopted, then of course a utility-based bull run would change everything, and no one knows how to chart that one!
Hope you enjoy this analysis.
Cheers,
Leb Crypto
Welcome to another macro TA on XRPUSD.
This may be an unpopular chart as it shows very boring movement this year 2019, even until late March 2020. Many weak hands to be shaken off out of despair from a seemingly lost investment. Many in the process will lose faith in XRP as Ripple the company continues to shine with no price appreciation for XRP.
But it is not an unlikely scenario - in fact I am starting to lean towards it as it makes sense on 2 fronts:
1- gravitating around that longterm trendline in boom and bust cycles
2- the length of time it took to takeoff in the previous cycle, also coinciding with late March, going full bull into EOY.
3- XRP going full bull exactly at the time where most retail investors have sold or lost hope, bringing max pain to all.
In this idea, XRP goes in raging bull mode as of late March 2020, hitting a target of $30 per XRP at EOY 2020, then entering another longterm bear market down to around $2.5 (92% decline as in 2018).
N.B. I must note that this analysis is based on a speculative XRP asset, with real XRP utility still being low in the coming year and a half. If otherwise XRP becomes widely used and adopted, then of course a utility-based bull run would change everything, and no one knows how to chart that one!
Hope you enjoy this analysis.
Cheers,
Leb Crypto