XRP will highly likely go to 6-8 USD soon
Updated
I have to say that I almost finished my analysis but somehow my page got refreshed and it got lost..
So I will summarize what I wanted to say:
Pattern recognition is important and are (magnified) copies, and following signs are bullish:
* Compare the blue and pink rectangulars
* we are hovering above the 200 ema
* if we have a break-out of the pink rectangular, we will probably hang below the yellow descending trendline
* If we break-out we will most likely see very rapidly ATH or 3-3.2 usd
First bullrun around end of 2017 was around 1600% which will be repeated from this level 0.48-0.5 usd..
which results in a level of around 8 usd or exactly the 2.618 FIB level !
I might think a 3th wave will pass the 3 usd level to come back as support in a 4th wave and meet the 6-8 usd in a 5th wave.
On a macroeconomic scale it looks all clear and the graph is quite clean for a run-up after a long 6 years consolidation!
I think there is much momentum made as we didn't have a ATH in previous bullrun after covid.
So the potential is enormous as XRP has a decent bottom and support around the 0.3-0.5 usd level.
Also remember when there was a crash in USDT several years ago..everyone ran into XRP which was quite atonishing.
It is somehow a reserve currency and could take out ETH in the a second spot which it did already briefly in jan. 2018 !
I foresee a bullrun like end 2017 with a start after 2nd quarter, so end of June this year... which will have a peak again at the end of this year.
So I will summarize what I wanted to say:
Pattern recognition is important and are (magnified) copies, and following signs are bullish:
* Compare the blue and pink rectangulars
* we are hovering above the 200 ema
* if we have a break-out of the pink rectangular, we will probably hang below the yellow descending trendline
* If we break-out we will most likely see very rapidly ATH or 3-3.2 usd
First bullrun around end of 2017 was around 1600% which will be repeated from this level 0.48-0.5 usd..
which results in a level of around 8 usd or exactly the 2.618 FIB level !
I might think a 3th wave will pass the 3 usd level to come back as support in a 4th wave and meet the 6-8 usd in a 5th wave.
On a macroeconomic scale it looks all clear and the graph is quite clean for a run-up after a long 6 years consolidation!
I think there is much momentum made as we didn't have a ATH in previous bullrun after covid.
So the potential is enormous as XRP has a decent bottom and support around the 0.3-0.5 usd level.
Also remember when there was a crash in USDT several years ago..everyone ran into XRP which was quite atonishing.
It is somehow a reserve currency and could take out ETH in the a second spot which it did already briefly in jan. 2018 !
I foresee a bullrun like end 2017 with a start after 2nd quarter, so end of June this year... which will have a peak again at the end of this year.
Comment
what do you think of the timing and continuation.. Ready for a break-out!
Comment
once we break out that descending yellow trendline, it should be unstoppable..Might be before the halving.. or after..
Comment
Despite long consolidation and tradingrange under the yellow descending trendline, AND another drop in btc, still sideway movement. It could turn around very quickly.. be ready
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