XRP is doing new stuff apparently. What can we expect?
So now that BTC had taken a hit, what does this mean for XRP?
Well, this will entirely depend on BTC, surprise surprise.
If BTC recovers now, and resumes the rally soon, topping out at 200k or more by the end of 2021, so will XRP reach the top a few weeks after the BTC top.
But if BTC needs a longer recovery after this dump, then so will XRP need longer to reach the target prices of a few dozen USD per XRP.
We thus cannot use the old charts any more, the behavior of BTC has changed, and accordingly that of XRP, too.
We now have to watch BTC closely, and see when it will resume the rally. I am convinced it will, and even should it need longer, this is certainly not the end of the bull cycle.
It was just a massive shakeout. The timing is completely off, and BTC does not just do 3x the previous ATH, no chance. It will not settle below 10x the last ATH.
Well, this will entirely depend on BTC, surprise surprise.
If BTC recovers now, and resumes the rally soon, topping out at 200k or more by the end of 2021, so will XRP reach the top a few weeks after the BTC top.
But if BTC needs a longer recovery after this dump, then so will XRP need longer to reach the target prices of a few dozen USD per XRP.
We thus cannot use the old charts any more, the behavior of BTC has changed, and accordingly that of XRP, too.
We now have to watch BTC closely, and see when it will resume the rally. I am convinced it will, and even should it need longer, this is certainly not the end of the bull cycle.
It was just a massive shakeout. The timing is completely off, and BTC does not just do 3x the previous ATH, no chance. It will not settle below 10x the last ATH.
Comment:
Given the weak performance of BTC, I have to add that I think the blue line is more likely. So we might see a bounce of BTC to 55k tops, which would mean a bounce of XRP to 1.5 or 1.6 USD, then a dump of BTC to 15-20k, so a drop of XRP to around 0.4-0.5 USD. This might present the opportunity for an excellent trading setup.
I would advise though to only trade with a portion of the holdings. All in all out stuff is never a good idea in crypto :)
I would advise though to only trade with a portion of the holdings. All in all out stuff is never a good idea in crypto :)
Comment:
It seems that BTC is taking a slow route, therefore I think that XRP will also take the slow route.
ATH postponed to 2022 :/
ATH postponed to 2022 :/
Comment:
THe question is now if this was a true local low, or if we'll see a bounce and then new lows:
It will 100% depend on what BTC will do.
See my BTC idea for comparison:
It will 100% depend on what BTC will do.
See my BTC idea for comparison:
Comment:
So it is now confirmed: XRP is taking the slow(green) route.
This means ATHs not before 2022, coinciding with BTC ATH.
My guess is late 2022. We will have to be patient, but then again we've been waiting for so long, what is one year more? XD
This means ATHs not before 2022, coinciding with BTC ATH.
My guess is late 2022. We will have to be patient, but then again we've been waiting for so long, what is one year more? XD
Comment:
Parabola update, still looking good:
If BTC doesn't do a sharp move to the downside, we can expect continued growth for XRP in the next 6-12 months.
If BTC doesn't do a sharp move to the downside, we can expect continued growth for XRP in the next 6-12 months.
This will depend on:
1. State of SEC case
2. How high BTC will bounce.
If the case is settled or very favorable for XRP in the next weeks AND BTC rebounds to 50k or even 55k, then we really might see XRPUSD rally to 5 USD. It can happen, thus validating this trendline.
If however BTC only rebounds to 45-50k, and the SEC case doesn't bring great news, XRP will only bounce up to 1.5-1.7 USD and then when BTC will start dumping down to 20k, so will this trendline break down, and transition to the longer one which I drew in the above chart.