I will tell you, when the moon is for XRP, but first, let's take a look at the technical analysis.
On the chart, you can see two major downtrending trendlines, and the price is below them. The bears are in full control, and I cannot be bullish at this point.
The previous uptrend from June 13 to September 19 was a 3-wave structure (ABC). This suggests a corrective counter-move in the main direction of the trend. The trend is indeed bearish.
I want to see an impulsive structure before even considering becoming a bull on XRP. What's more, the price is printing a head and shoulders pattern, and the price is currently forming the left shoulder.
Basically, it's a shorting opportunity if you want to catch the local top. Or wait for a breakout below the neckline for a confirmation. Your profit target is at the bottom of the parallel channel on the LOG scale.
XRP can drop by another 50% or 80% to 0.1 USDT next year. It's very likely, in my opinion.
If we take a look at the MACD indicator, we can see that the bulls are losing steam on the histogram, and the bearish crossover can occur very soon!
So when moon for XRP? There is no indication from whales that they are buying XRP at this moment. It looks like they want to buy cheaper XRP at 0.1 USD. I think XRP can moon next year in 2023, it's possible, why not.
Thanks for sharing your thoughts, look at QNT and many other charts, they all show H&S pattern although QNT is the most obvious on 3D. rest on weekly, like ROSE, AVAX, FTM, NEAR, ATOM AND SOL. Same pattern I noticed on BTC in January after it touched 69K