It is a slow crypto market. But slow does not equal bad, not necessarily. One of the illustrations of this dynamic is XRP, one of our favorite tokens as per our XRP forecast. The XRP chart is improving even though it is trendless. Again, trendless does not equal bad, not necessarily.
The big issue with XRP currently is the uncertainty that is created by the SEC case.
There is certainly not a lot of uncertainty visible on the chart setup, on the contrary. The XRP chart is improving considerably.
One of the things we like a lot is the consistent series of higher lows printed on the XRP chart. Not only are these higher lows constructive, they are also happening *exactly* at the multi-year rising trendline (red rising trendline on below chart).
The pattern on the XRP chart will resolve not later than April 30th. As seen, the falling trendline (that connects the highs since Q2/2021) and the rising trendline (that connects the lows since the Corona crash) are about to coincide at the end of April of this year.
Stated differently, XRP will resolve in the next 3 months. The outcome of the SEC/XRP case will accelerate the move, whatever the direction will be.
The pattern that is seen on the XRP chart is bullish, it is a bullish triangle. If this pattern resolves higher AND if the lawyer will not declare XRP a security, we believe that our XRP forecast of 3 USD will become a reality before year end. Note, though, that this is a conditional statement and predicting the outcome of a lawsuit is an impossible task.
Still, this chart is lovely!