XRP is perhaps one of the most divisive coins in the world of crypts. Yet he has a huge following camp. A favorite of many of us. Recently, the SEC lawsuit has had a fairly negative impact on the exchange rate. Trading has been suspended on several stock exchanges. That is why your future may be a big question. I wonder what future he has for us. What news does this bring to the future that we can already learn about the graph? Why am I bullfighting XRP? This analysis is also a strictly technical analysis.
Analysis: Let's see what secrets the good old XRP reveals about itself! The graph shows a weekly view. An order of magnitude change? First of all, what I notice is the existence of magnitude shifts like Bitcoin. This is also clear from the XRP graph. Each shift + 10x. That is, for example, from the starting rate of $ 0.01: it will be 0.1$, and so on. These levels are indicated by horizontal thin black lines. Any change of this magnitude was followed by a significant overflow! The extent of these is indicated by arrows pointing upwards from the magnitude changes. What they have in common is that in each case they exceeded the higher order of magnitude by at least 200%. So far, this process has taken place 3 times, and like Bitcoin, there has been a “double pump” shift. That is, in a short time he was able to shift 2 orders of magnitude upwards. If the trend remains and we can be part of another order of magnitude change, we could exceed the 10$ price by as much as 200%. That would be 30$, which at the current price of 50 cents certainly has an incredible 5000% growth potential. Cycles? Apparently XRP also has cycles. We are currently in the correction of the 2nd such cycle. The first correction cycle lasted from 2015 to 2017. The price fell from the previous top to the curved support marked in green. The second such correction cycle runs from the previous top in 2018 to the present day. Also on the support curve marked in green. This second correction cycle lasts much longer than the previous one. But obviously we are already nearing the end of this. I marked the expected eruption zone with a green rectangle. In both correction cycles, a FIBO level of 0.236 represents the resistance upward. This level is currently roughly at the 1$ psychological price. If we manage to get over it, we can witness a great process. The elevations so far, the angle is quite similar (blue lines). If an eruption occurs, the same intensity as before can be expected. The situation is similar for corrections. The angles of the oblique resistor marked in red are very similar. What is worth noting is that towards the end in all 2 cases the price climbs to the line. In the current cycle, this stunt produces much more intense oscillations, which can project large movements. Based on past movements, there is a pretty good chance of reaching the 2018 peak.
RSI: It is characterized by visibly rising trend lines that tend to erupt suddenly upwards. It is also characterized by a multitude of visibly rising bottoms in the current cycle. This trend may continue for some time to come.
Conclusion: Breaking the 1$ level and retaining it is key. If a magnitude change occurs again, you can reach a fairly high peak above 10$ for a short time (a couple of weeks). The latter is worth keeping in mind. Obviously if this happens it will be a buble. But what’s good about it (for the bears) is that in the long run, the correction cycle will take place again at a higher bottom.
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Non-financial advice. Trading in cryptocurrencies is risky and can result in losses.
such price would put it at a higher market cap than btc and eth combined
The-Line
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@evgo_petrov bitcoin market is still growing. xrp market cap can only be temporarily high like 2018
omidtbv
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@evgo_petrov, xrp market was some time higher than btc.. By the way i dont think xrp be able break the important 0.6 to 0.8 zone without good news from SEC
UnknownUnicorn18786591
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@omidtbv, You will not hear any good news from SEC, they made it clear they want to stop Ripple from enriching itself from XRP sales. And since Ripple owns most of the XRP, any outcome is going to have a huge impact of XRP tradeability (and don't even think about use cases in the future, there are non now and there will be even less later).
omidtbv
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@Yup12345678, yup can be happen like that and i would be happy that sec controls the sale of xrp and go for jed sales on his another stupid coin after that. Why not? For sure the next target would be jed
UnknownUnicorn18786591
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@omidtbv, SEC does not want to control sales of XRP. It is just a made-up thing that the XRP army came up with. They clearly say that XRP has no use case (true) and that it was only used as a money-making machine for Ripple and its executives. The only purpose of XRP so far was making money for executives to spend as well as for Ripple to develop projects that DO NOT involve XRP. The fact that they don't go after McCaleb just proves that they do not view XRP as something that should be saved. They just want to turn off the money-making machine. Guess what are doing Ripple executives today? Organizing marketing, sending out incentives and bribes, selling large amounts of XRP every couple of hours in a coordinated manner so that they don't trigger a sell-off. XRP army should team up and instead of acting like Garlinghouse's fellows, you guys can try to come up with some use case, like opening a franchise of icecream stalls that accept only XRP. Because no one is developing a use case for XRP at all (a white paper that some freelancer created for them for a decent sum of money, after ten years of promises, that does not count as actual development, it is just another ass-saver for them, buying time).
Patralis
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@evgo_petrov, market cap is the biggest bullshit indicator to see if a certain price level is possible.