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Ripple is in a potential bullish harmonic reversal zone here. There's also a weekly bullish divergent bar, and the weekly momentum is starting to diverge and turn around. We're also within the correct time zone for this wave to end, along with the inside Elliott wave count for wave-(d) matching that of other cryptocurrencies which also appear bullish, some of which have already seen the beginning of a pretty big reversal. This implies that we've likely already hit the bottom on XRP and are beginning to climb now.
Potential target is somewhere from 10-150 USD, and could take from 6-10 months. We'll have to see how this continues to develop from here to know what a more precise target will be. I suspect that we'll continue to see very violent waves up, like we've seen in the past, with very long corrections.
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For all the people that say "Crypto can't go that high because of the market cap!" I suggest you take a look at the DOW and see the consistent 100+ year logarithmic growth that it has experienced. Also the consistent logarithmic growth that BTC has experienced since 2009.
Logarithmic growth is not going anywhere. We'll continue to increase at nearly the same rate as we have in the past. It may seem impossible, but this is exactly the rate we should be going for cryptocurrency to replace all currency in 5-10 years.
By next year crypto will be 1-9% of all currency in the world (currently ~0.23%), and then in 5-10 years it will be at least 90%, meaning the total market cap will reach into the 100s of trillions when you adjust for future inflation.
Looks like in the short-term we are actually forming a symmetrical pattern, like on BTC. So we should get one more leg down before we finish wave-i, probably sometime around the 25th at 0.26-0.21
Looks like we bounced off of my 0.26 target and now we've retraced all of wave-i faster than it was formed. This is also the first time we've made a higher high since January. Most likely, we will see some strong follow through here that could be the beginning of the forecasted uptrend. The rest of the market is likely to follow.
These numbers sounds insane..like if somebody said 4 years ago when btc price was 100usd to go to 20000usd..:D
Intuit
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@CoinDreamer, Yes I remember it time and time again, people always said the same thing in 2014/15. Bitcoin could NEVER go to 10k because "the market cap would be too big." And here we are. It also happened time and time again with altcoins too. The situation changes, but people stay the same. :)
NoobOfTheMonth
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@Intuit, also xrp will be the very first crypto that is used mainstream by institutions for the best use case one could imagine - the extremly out of date cross-currency payment AND settlement case. utility combined with speculation may get it to where you say, but i dont think within the next ten months.
CryptoHulk69
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@Intuit, yup, people are sheep! Narrow minded beyond belief. Just from these ignorant responses regarding why XRP will never fly, tells me just how crazy it will fly...the chasers that end up piling into XRP is going to be epic! Love it!
@EricH.landa, Other new traders that are long XRP from a year ago. It helps with the pain. What planet are these people from? We wish everyone well but this is just off the charts nuts and actually as we said above dangerous to new traders that may believe this nonsense.
Intuit
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@london55555, Haha, this chart is bad, except that it called the bottom (still haven't broken that price), and produced me a nice profit when it hit my trailing S/L. Sure noobs lost money when they didn't follow the full trading plan, but that's not my fault. I posted a bear chart on XRP when this trade was still in profit. If someone didn't take profit there, its not my problem.
Intuit
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@Intuit, Also nobody would have lost money, just broke even at this point.
NewYork888
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@Intuit, You're missing the entire point of the headline you posted "XRP to $100" and it's impact on a new trader or "Noobs" as you call them but then again as you say "if they lost money it's not my problem" Here's the problem with people like you - you should care - Karma is a bitch and that's why no one should listen to a thing you say or post because if your followers lose money "it's not your problem" as you say. @dRends35@UNWOUND@tommix