What a beautiful breakout in XRP. After 18 months it is clear that XRP is back. It is back with a vengeance. Our former XRP forecast is seriously delayed, but we continue to believe that XRP can re-claim its leadership role over time. It has shown, fundamentally, a lot of progress. Even if it does not succeed in moving higher next week(s), because of turbulence in markets, we believe it will eventually do really well over time.
In a sell-off week in markets, an ultra risk off week, XRP broke out and went in one straight line from 0.33 to 0.55 where it found lots of resistance (for now).
Interestingly, we wrote a special edition to premium members in our crypto investing research service, the day before XRP took off. We featured fundamental insights which made us really excited about XRP’s future. We also featured several charts, one of them the XRPBTC chart shown below.
The green arrow is the moment when we sent our XRP special edition. The yellow circle is the breakout confirmation (after a successful back-test) which we noticed and triggered us to share this great news with our members.
Chart-wise, XRP has turned into a beauty. We do realize that turbulence in markets may prevent XRP from further rising. We also do realize that XRP is likely going to continue its uptrend whenever markets calm down.
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.
The SEC broke what was a beautiful reversal in XRP. We qualified it as the most powerful and beautiful reversal in history of markets. The SEC broke this entirely, back in December of 2020.
The XRP chart priced in BTC shows this huge, massive, decline that eventually turned into a W reversal after 6 months (early 2021).
Going forward, see XRP move much higher, say in the next 18 months. However, short term, markets should not tank. They can remain volatile but it should not turn into a straight crash. In that scenario, we see a bright future for XRP. Moreover, we expect that Ripple will not ‘lose’ the legal case against SEC which IF that’s the case should also remove any tension related to XRP investing (Ripple losing the SEC case will bring volatility, although temporarily).
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