Different possibilities for XRP depending on BTC
So we don't know what BTC will do, but I think that XRP will as always closely follow Bitcoin the next years.
If BTC really manages to hit ATH in Nov/Dec this year, which is not impossible, then I expect XRPUSD to hit the 20-30 USD region.
However, I think that this is unlikely, currently.
I think that BTC will climb to 55k now, pretend to be bullish, and then retest the MA200 again, with a brutal dump to 16k. I really hope I am wrong, but
this would really fit BTC's past behavior of extreme shakeouts.
If that happens, XRP will of course follow accordingly. And at current XRPBTC levels, this means a dumpt to retest the 10 cent area. Longterm, this
would be a bullish structure with a double bottom at 10 cents.
I am not saying that this will happen exactly like this, but it is a real possibility and we shouldn't be surprised or scared if something like this happens.
Longterm BTC will hit 250k probably around early 2023, based on the lengthening cycle theory and the theory of diminishing returns, see for example this
analysis here:
BTC being at 250k peak, this would easily mean XRP at around 50 USD.
However, this doesn't mean that XRP can't dump to 10 cents before that, one should always keep that in mind.
My advice is to position yourself accordingly. A strategy would for example be to sell some percentage of one's XRP holdings in this coming bounce, keep the rest in case of BTC continuing the rally this year.
The buying the dip should it really fall this low, with the money from the previously sold XRP.
Anyways, trade with caution and good luck to everyone.
P.S: I assume the SEC case will be resolved until early 2023 in favor of Ripple, probably contributing to a bullish scenario.
If BTC really manages to hit ATH in Nov/Dec this year, which is not impossible, then I expect XRPUSD to hit the 20-30 USD region.
However, I think that this is unlikely, currently.
I think that BTC will climb to 55k now, pretend to be bullish, and then retest the MA200 again, with a brutal dump to 16k. I really hope I am wrong, but
this would really fit BTC's past behavior of extreme shakeouts.
If that happens, XRP will of course follow accordingly. And at current XRPBTC levels, this means a dumpt to retest the 10 cent area. Longterm, this
would be a bullish structure with a double bottom at 10 cents.
I am not saying that this will happen exactly like this, but it is a real possibility and we shouldn't be surprised or scared if something like this happens.
Longterm BTC will hit 250k probably around early 2023, based on the lengthening cycle theory and the theory of diminishing returns, see for example this
analysis here:
BTC being at 250k peak, this would easily mean XRP at around 50 USD.
However, this doesn't mean that XRP can't dump to 10 cents before that, one should always keep that in mind.
My advice is to position yourself accordingly. A strategy would for example be to sell some percentage of one's XRP holdings in this coming bounce, keep the rest in case of BTC continuing the rally this year.
The buying the dip should it really fall this low, with the money from the previously sold XRP.
Anyways, trade with caution and good luck to everyone.
P.S: I assume the SEC case will be resolved until early 2023 in favor of Ripple, probably contributing to a bullish scenario.
Comment:
Update: Should the rumors of a "settlement soon" be true, this could bring a new dynamic into XRP. We could see a quite strong XRP pump to new alltime highs, that cannot be ruled out.
Comment:
But since it looks like the SEC lawsuit will still drag on for a long time, we shouldn't count on that.
More likely, XRP will just follow BTC with delay.
So it again ENTIRELY depends on BTC.
So either it dumps with BTC or continues pumping to new highs.
More likely, XRP will just follow BTC with delay.
So it again ENTIRELY depends on BTC.
So either it dumps with BTC or continues pumping to new highs.