XRPUSD Our target was smashed and the sky seems to be the limit!

Huge success for Ripple (XRPUSD) as following the favorable court ruling, the price smashed the 0.65000 target that we set on our analysis last month (see chart below), and broke aggressively above the (now former) Channel Up:


We need to get to the 1W time-frame in order to understand more effectively the magnitude of this move. With the long Support of the 1W MA50 (blue trene-line), the price has formed a new Channel Up that guides it directly to the top (Lower Highs trend-line) of the multi-year Triangle pattern that XRP has been trading in since the 2018 All Time High. This resembles the Channel Up/ Accumulation phase of 2020 that led to the April 2021 High.

The Triangle however, resembles the pattern of 2013 - 2016, which had a parabolic break-out in 2017 that formed the All Time High. We have attached the break-outs of those two former Channels for projection purposes. The reality is that the XRP has been left so far behind the rest of the crypto market since the 2020 lawsuit, that may very well deliver a proportionally stronger rally as new liquidity gets injected into the market during this Bull Cycle.

As a result we are expecting XRP to reach 2.000 (roughly the previous Cycle High) between December 2023 and January 2024.

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