Loyal readers will vividly remember how bullish we have been on XRP until December of 2020 (Ripple/SEC lawsuit). It is a long time ago, but here we are again: we find ourselves in a situation where we continue to cover XRP continuously, in 2023, as well as our XRP forecast. There is a reason for this, a very good reason: XRP has the most powerful long term crypto chart.
InvestingHaven, in its recent article XRPs Explosive Chart Setup Is Ready To Erupt, had forecasted that an explosive move was about to happen, and it happened exactly as expected. The article highlighted XRP’s bullish triangle formation and predicted that it would lead to a significant breakout.
We followed up, towards the end of March, in An Epic Breakout in XRP: Bullish Triangle Finally Resolved:
The long-term chart structure of XRP is a giant W reversal pattern, which suggests that the all-time high of 3 USD will be tested either in 2023 or 2024. This is a bullish signal for long-term investors who have been waiting for a major move in XRP.
Fast forward to today, the reversal on the long term XRP chart, is simply phenomenal.
What’s important to point out: this is a weekly chart! As said in the past, crypto markets move 10x faster than regular stock markets. This implies that, as a rule of thumb, the timeframe of a crypto chart should be multiplied to compare it with a traditional stock chart.
Stated differently, this weekly XRP chart over 8 years compares to a regular stock over a few decades.
The reversal on the XRP chart is powerful and beautiful, beyond words. Remember what a beautiful chart pattern means: Beauty Results In Profitable Investments.
We continue to be astonished about the discrepancy between risk (SEC) and XRP’s chart pattern. The chart clearly says that the market favors a good outcome for XRP.
In our most recent crypto alert, we featured XRP as one of the ‘top tips for June’. You can find out the other top tips in the restricted research area >>
