At InvestingHaven, we have always been firm believers in the disruptive value that XRP can potentially deliver. We explained this in great detail in our latest XRP forecast, in XRP Is Back In Business and in our most recent crypto prediction. It might feel like it is taking ‘ages’ before XRP can prove its value. However, the reality is that there are strong signs of adoption, happening right now, as evidenced by current acceleration in XRP and ODL (On Demand Liquidity) and Ripple’s expansion.
From one of our recent writings:
Fundamentally, we believe that XRP is finally showing signs of adoption. This is an excerpt from our research shared with premium members last week:
Loyal readers that are following our work since 2017 will vividly remember how we repeatedly said that ODL adoption would be crucial for XRP. ODL stands for ‘On-Demand Liquidity’, it uses the XRP token and enables moving money around the world without the need for correspondent banking relationships and pre-funding of accounts abroad. It aims aims to help network members in accessing a pool of ready-to-use money through digital assets with the intention to deliver payments that are seamless, real-time, and cost-effective.
Naysayers will argue that XRP has been going nowhere in recent years compared to its peers, think Polygon, Ethereum, Bitcoin.
While it’s true that XRP has been consolidating in a wide range and that it was not able to take out its 2017 highs, we see something very different when looking at the long term XRP chart.
If we look at the weekly XRP chart and add our annotations to find structure (read: cut through the noise) we observe (a) a bullish reversal (b) that is in the making for 5 full years (c) higher lows in 2022 against 2020.
We believe that this structure will morph into a giant bullish reversal which will take the shape of a W.
Needless to say, all of the above elements are wildly bullish. We can easily see readings of 2 and 3 USD in XRP, somewhere in 2023. Moreover, longer out, we would not be surprised if XRP ever makes it to our long standing target of 9-12 USD.
There are not a lot of weekly crypto charts that look as strong, long term, as the one of XRP. We will start getting really excited once XRP clears 0.66 USD on a 5 day closing basis.
The ‘problem’ with XRP is that is a real investment. Crypto, as far as we can see, is more of a ‘traders place’ for most participants. Although most market participants in the crypto space would call themselves ‘crypto investors’ we would argue that the group of real crypto investors is an absolute minority.
We believe that patience will be rewarded for XRP holders.
Note that there is one more observation from this chart that is worth sharing: the first week of January is one of the few decisive moments for XRP as evidenced by the yellow vertical line on our chart.
In our crypto investing research service we closely track XRP >>
