XRP / Tether USDShort
XRP 3-Month Projected Price Action
I'm very bullish on XRP in the mid-term. But in the short-term timeframe we are looking quite bearish. We have systematical lessening on daily buy volume creating a divergence in the recent upward price movement. I've created a potential down-channel path in which it could travel as I fully expect some major downside over the next few weeks. It is possible we even have another retracement similar to that which we had seen at the end of December. It's hard to say how low it will go this time before its massive breakout, possibly some time at the beginning of August. I've included 4 color-coded areas of strong interest in which price may consolidate or reverse. These areas represent previous high time-frame resistance zones which may act as support this time around.
It is also possible we even dip below the previous low of .17. I know this is something most people don't believe could ever happen at this point, but I am leaving all possibilities on the table, even travelling all the way to the bottom of this absolutely massive multi-year falling wedge one final time.
As things heat up in the SEC case there will undoubtedly be bearish news which causes another panic-sell type moment. Recently XRP has enjoyed a massive rally due to positive news in the case and a trending 'Re-List XRP' Twitter movement which resulted in several exchanges re-opening trading pairs for this instrument. This culminated in rumors that they were trying to get the case dismissed. This hope is now fizzling out, as it looks like things will continue to move forward as planned.
Ask yourself, honestly: If you were a judge, would you have the gumption to summarily dismiss a case involving the United States Securities and Exchange Commission, no matter how baseless the lawsuit actually is? I don't think any judge would dare to disrespect the SEC like that. No, this case will continue and it will be a rough ride for all XRP holders.
That being said, the price of XRP will not be held down forever. I am looking forward to an insanely quick 30x move from bottom to top on this coin once the re-listing occurs across all exchanges. And then perhaps even another major push from it again a few months later, similar to the 3-bump move back in 2017.
XRP may be a slow starter, but in the end it will prove to be one of the best investments of the year.
It is also possible we even dip below the previous low of .17. I know this is something most people don't believe could ever happen at this point, but I am leaving all possibilities on the table, even travelling all the way to the bottom of this absolutely massive multi-year falling wedge one final time.
As things heat up in the SEC case there will undoubtedly be bearish news which causes another panic-sell type moment. Recently XRP has enjoyed a massive rally due to positive news in the case and a trending 'Re-List XRP' Twitter movement which resulted in several exchanges re-opening trading pairs for this instrument. This culminated in rumors that they were trying to get the case dismissed. This hope is now fizzling out, as it looks like things will continue to move forward as planned.
Ask yourself, honestly: If you were a judge, would you have the gumption to summarily dismiss a case involving the United States Securities and Exchange Commission, no matter how baseless the lawsuit actually is? I don't think any judge would dare to disrespect the SEC like that. No, this case will continue and it will be a rough ride for all XRP holders.
That being said, the price of XRP will not be held down forever. I am looking forward to an insanely quick 30x move from bottom to top on this coin once the re-listing occurs across all exchanges. And then perhaps even another major push from it again a few months later, similar to the 3-bump move back in 2017.
XRP may be a slow starter, but in the end it will prove to be one of the best investments of the year.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.