XRP trade ideas
Xrp breaks out The coin has been trading in a clear descending channel since last week after pulling back from as high as $1.80 dollars per coin, a position that made long term holders take some of their profits after the coin has risen more the 100% in this year alone. It is this sell off that caused a liquidity shortage in the market resulting in the descending channel that puts the coin on a red hanger sale which grants retail traders with the opportunity to fill up the market with liquidity in order to push price to the upside. This is why we see structures such as the double bottom on the liquidity zone.. These are clear signs that liquidity is being filled and the bulls are ready to take over hence there is a clear upside breakout from the descending channel (right after the double bottom structure) indicating a bullish take over. The bulls where strong enough to break price out of the descending channel but are they strong enough to take price to new highs or to the moon?
My predction in the XRP Market Cap!!! This it's bullishXRP it's extremely bullish in this altseason. So, I show my 4 targets in the market cap to reach in this cryptocurrency.
1. Target #1: $500 billion
2. Target #2: $1 trillion
3. Target #3: $3 trillion
4. Target #4: $5 trillion
Now, I will going to show you how to calculate the future price when XRP reach one of these targets in the market cap into the future.
For calculate, we need to know how much XRP there're in the circulation supply. We see that there're exactly 45,404,028,640 XRP coins. Or you can to say 45.4 billion XRP in circulation supply. To know it, we use the division using the formula:
b]Formula: Market Cap / circulation supply = future price
Example: Supposed that XRP reach a amrket cap value of $200 billion. To know it, we divided $200 billion / 45, 404, 028, 640 XRP in circulation supply. The future price will be $4.40 USD.
Now, if XRP reach a market cap worth in $500 billion, the future price will be $11.01 USD. A market cap worth in $1 trillion, XRP could to worth $22 USD. A market cap worth in $3 trillion, XRP could to worth $66 USD. Now, if XRP rach the market cap worth in $5 trillion, XRP could to reach the over $100 USD, the future price will be $110 USD. Now, I believe that XRP could to reach a market cap worth so near of $6 trillion. But to get a perfect plan, I reccomend to look the XRP dominance, this it's a smart way to know when XRP or the rest of cryptocurrencies like Chainlink it's reach a higher price when we know that the market cycle could to change. This it's very important to know it. Remember, XRP it's not neccesary to reach a market of $6 trillion becuase I don't have that as guarantee, our guarantee it's to know the information, analytical data, information as speculate news of XRP and the last how the price it's moving based in it.
XRP is in Bearish Channel & touched the Strong ResistanceBecause of touching strong resistance and taking in a big bearish channel and finally it's in a triangle pattern, it's time to go to a rest and fall to support of 1.37B.
So, the probability of a price increase is less seen due to touching the strong resistance.