It’s a while ago, but we are going to cover XRP again. Why now? Because we believe XRP is about to start trending. It was quiet for a while, and that’s a good thing. Contrary to general belief, which is mostly an emotional and experience driven belief, a flat market is a much more attractive market than one that is wild. Our XRP forecast did not materialize yet, and that’s fine. Those who are impatient to cash in a 10-fold increase, and get nervous it did not happen in 202 even though the charts clearly show that a major move is underway, should first ground themselves. Those with patience will be rewarded. Our ultra bullish forecast on XRP did not change, on the contrary, we are more convinced than ever that it will happen in the next 12 to 24 months. It may happen in 2021 or in 2022, our best guess is that we will see a 10-fold increase late in 2021, so consider our first XRP target (being former all time highs) to be our 2021 forecast and price target.
All that matters in the land of crypto is long term charts, and long term trends.
The 3 year XRP chart, weekly timeframe, shows how the sideways trend of the last 2 months is happening right at multi-year support. In fact, it is the 2018 and 2019 support line where a long consolidation is occurring. This is the longest consolidation in XRP in many years (with the exception of early 2019). That’s a good thing, not a bad thing.
If we adjust our view, we can clearly see this long term reversal pattern.
Again, this is a good thing, not a bad thing … especially because we are at what we could call ‘the right hand side’ of the reversal. In plain simple terms, the reversal is complete, and we are now in the rising phase of this long term pattern.
The best moments to buy a future multi-bagger never feel bullish, never.
In other words whenver it feels bullish you are probably too late entering, worst case you are way too late and you are buying the top.
The fact that XRP does not feel bullish while BTC is near all-time highs is not a bad thing per se. It could be a bad thing, but considering the above charts and the flat structure in the last 2 months near a multi-year support area is a good thing according to us.
What do we read in these charts? As long as global financial markets, as well as BTC, do not crash in the next 6 to 12 months, which is what we expect, XRP will move higher and never look back. We expect to never see again 0.20 USD, and presumably never again 0.24 USD.
The naysayers may feel free to disagree, and the market will show us in 6, 12 and 18 months which position was the most profitable one: long XRP or no XRP.
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