Just look at the nearly 2 years of sideways for XRP while Bitcoin made some serious gains between 2015 and 2017.
Also take a look at XLM:
XRP has some room to fall on the ratio towards 2700-2800:
Eventually, in 2017 XRP started outperforming Bitcoin, but it took a while. This is just a speculative chart showing what COULD happen, if history were to repeat. In the last cycle, alts didn't start making serious gains until Bitcoin touched its previous all-time high. Even if we don't see some sideways consolidation by Bitcoin in the coming weeks, I think time is running out for people to buy some of these established alts like ETH, XRP, and XLM. This is only my opinion and shouldn't be taken as financial advice. The market conditions may change completely, and I will have to reassess if and when that occurs. History may not repeat, but I find this comparison interesting, which is why I've been posting about it over the last couple of days.
Good luck!
-Victor Cobra
Comment
⋅
Comment
⋅
This move down is actually perfectly in line with what happened last cycle (which is why I outlined it as a possibility in this analysis). Very interesting.
Comment
⋅
If things are going to play out like 2017, I'd expect XRP to make a new 2019 high within the coming weeks, perhaps the $0.65-0.67 resistance area.
Comment
⋅
Still following my speculative pathway. It'll be interesting to see if it can make a substantial move up soon. This would be in line with my general view of the market at the present time. My view will change if alts like XRP sustain breakdowns to new USD lows.
What’s interesting is that the first red box on xrp looks very similar to what xrp has been doing for the past few weeks on the daily and the weekly.
VictorCobra
⋅
@potatohead314, Yeah, you're right. It's also possible it rallies sooner rather than later. We'll see :)
VictorCobra
⋅
@potatohead314, Though I'm not comparing that box to the current market situation, since it resulted in a bit of a blow off top that retraced a fair amount. Though the resistance from that consolidation period has become the support for this current consolidation period.
jonasbrothers3000
⋅
@VictorCobra, I just noticed that the xrpbtc pair held its value when btc jumped up today, usually it falls when btc rises but not this time. This might be a sign that xrp is bottoming