XRP moves a bit different than BTC, ETH, LTC, etc.. It is a coin that moves in silence and just when everyone thinks its dead, it has parabolic rises of over 1000% within a month or so.
As you can see here on the Weekly XRP chart, the 1st wedge consolidated from April-Dec in 2017. Roughly 10 months. From there we saw an early breakout of the wedge to a 1400% gain in 28 days.
Now in April 2018, a year later, we saw the start of the new move. The 2nd consolidating wedge before a crazy parabolic rise. According to the chart, XRP has been holding this wedge to a T and we should expect a breakout sometime in early Oct.
The XRP/BTC chart, which I will link later, is also due for a breakout middle Sept. - early Oct. The FED and the President of the United States are talking about cryptocurrencies, Ripple just partnered with MoneyGram and is trying to gain control over the Indian Banking Sector as we speak. We should see an influx of very bullish news in the fall as more and more banks go on record and state they are partnered with Ripple using xRapid technology and XRP.
This 2nd wedge is a little over twice the length of the 1st, 231 days as opposed to 518, meaning we should see about twice the % gain as the 1st move up.
Think of it as a slingshot, the farther and longer you pull back, the higher and more explosive your shot will become.
FUD galore on this drop on all these charts, bears can get rekt more easily than longs
WGauger
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@tradetraderson, I feel like it’s been nothing but FUD since BTC hit its ATH this year.
HODLER_OF_XRP
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@WGauger, BTC didnt hit its ATH this year. The ATH (all time high) was at 20k. What you are talking about is YTDH (year to date high)
chrisorist
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Wow! This is interesting.
Gold Futures did something similar in 2001. It broke out from a second wedge and by 2011 it achieved more than 2x ATH. Before reading your post, I noticed that the XRP All-time 1-Day chart is closely following the All-time 1-Week chart of Gold Futures and I went long on XRP at 0.32 expecting it may well hit $8.00 by EOY.
I think the next 6 months is going to be an amazing time for crypto.
kyer
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@chrisorist, All the stars are aligning. From the FED talking about regulating crypto, to North Korea holding 650M in Bitcoin, to the stock market topping out for the 4th time.. I agree. The next 6 months is going to be a movie for all us holders.
pedro17
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xrp is toast..there is a better then 50% chance they deem it a security..if so it's lights out for ripple labs