XRP charts suggest that the price of XRP has lots of upside potential. We believe the charts confirm the XRP rise in 2024 is a very high probability outcome.
Related – Our XRP Price Forecast 2024
This article is meant to neutralize emotions from XRP investors by the facts and figures.
The impact of altcoin season 2024 on XRP investors
XRP investors are getting nervous – alt season 2024 is accelerating but the price of XRP is flat.
As the first crypto investing research service in the world, we have a very good sense of sentiment among the more mature and experienced crypto investors.
One of the things that stands out currently, when it comes to sentiment, is the hesitation (read: disappointment) of XRP holders.
While it is an instinctive reaction to feel disappointment, we must remain aware of the fact that it is a feeling. In the world of investing, emotions are the biggest enemy of the investor. Very often, as explained in 7 Secrets of Successful Investing, emotions may act as the most accurate contrarian signal.
We saw all this coming when we wrote, back in September, this article When Will XRP Finally Break Out. The lagging nature of XRP would spur emotions of FOMO, disappointment, doubt. It was so predictable.
This is what we wrote in our XRP article, so many months ago:
The right question to ask is not WHEN exactly XRP will break out. That’s because all 3 charts, featuring a completely different view and different chart patterns, confirm the bullish nature but also explosive characteristic of XRP. It is a fact that XRP as a cryptocurrency tends to stage accelerated moves in a very short period of time.
And the really important quote is this one, still highly relevant:
The really important question is whether XRP owners are willing to wait until the big breakout above 0.88 USD is going to happen. Between now and then, XRP owners better remain patient, because the structure of this long term consolidation is bullish. Sooner or later, the big breakout will start.
Emphasis ours on these words: “The really important question is whether XRP owners are willing to wait.”
It’s an emotional thing.
It’s a mental game.
Are you aware?
XRP price – long term chart
Last summer, we said, convincingly, that our XRP forecast of $10 was confirmed. Our chart reading required a confirmation that XRP was no security, which we eventually got.
We used the long term XRP chart to make our point – below is the longest XRP timeframe.
It’s the secular XRP chart.
What do you see?
A giant bullish reversal within a huge channel.
This is bullish.
It’s as simple and short as that.
All the rest is noise – whatever other data point investors will look for, is a pure waste of time. And anyone can disagree with us, we are confident about what we are saying, we are analyzing crypto markets for 10 full years.
XRP adoption in 2024
One really important focus point, in analyzing cryptocurrencies, is the level of adoption.
You may call it utility of the cryptocurrency or crypto project.
As a reminder, XRP’s utility, as per Ripple’s site: “Fast and green, the digital asset XRP was built to be the most practical cryptocurrency for applications across the financial services space.”
According to recent X updates:
- Blockchain in payments isn’t just buzz—it’s unlocking real value. Our survey found that 77% of leaders see blockchain as beneficial for customers. Plus, benefits like transparency and cost savings are on the rise. – source.
- With @StandardCustody, we’ll be able to improve existing product offerings for our customers, as well as explore new products and use cases, all in a fully compliant way. To date, @Ripple has secured: nearly 40 U.S. money transmitter licenses, MPI license from MAS, and VASP registration with Central Bank of Ireland. – source.
- There’s recently been a major resurgence in payments, with crypto’s democratization of finance front and center. While many have previously focused on the speculative, users are now moving back to the tried and true baseline use case: payments. – source.
The list goes on and on. Utility is the focus, since years, and we use this as a signal to confirm that the token is here to stay, complementing our chart readings.
Friendly reminder – please do not mix up Ripple (the company) with XRP (the token).
XRP rise in 2024
We look at the XRP chart in two different ways. In doing so, we address the “XRP set to rise in 2024 or not” which is a question burning on the minds of XRP holders.
The first XRP version of the daily chart features the retracement levels.
As said countless times, the 50% retracement level is, by far, the most important one (fine purple line). XRP is trading right at its 50% retracement level since last summer, for 9 full months now.
What stands out from this chart – XRP is building up momentum right at its 50% retracement level. The fact that it’s quiet, trendless almost, right at this level, is a great thing. This is in sharp contrast with the emotions of XRP holders, explained above.
XRP – to rise or not to rise in 2024
The second XRP version of the daily chart is the bullish triangle which is about to resolve soon, around summer.
Price of these type of long term bullish triangles tend to resolve before pattern completion. In other words, XRP will not wait until price makes it into its apex. Our best guess, given the triangle and rounded bullish structure – XRP will rise in 2024, sooner or later, the only question being ‘when exactly.’
XRP – price vs. time in 2024
Now, let’s forget about price, and focus on time.
99.99% of investors is focused on price, seemingly ignoring 50% of the chart which has two axes (price and time). Our focus is in fully understanding the chart, respecting both the x and y axis.
That said, in terms of timeline readings, XRP took 1196 days from its 2017/2018 top to its 2021 top. If we add another 1196 bars, it brings us to July 31st, 2024. In other words, if XRP is set to rise in 2024, it should happen not later than June/July of this year. A big more patience is required for XRP holders.
Historical XRP swings – another one brewing in 2024?
While the first chart in this XRP article was a very important one, the next XRP chart is equally important, in a very different way.
XRP priced in BTC, over the long term, staged epic rallies when it fell to 0.00001.
The chart says it all – what additional commentary is needed?
XRP rise in 2024 – conclusion
Will XRP rise in 2024?
The 5 XRP charts have a very clear message.
As analysts, we also add one more message – watch with your emotions, as feelings as often (not always) great contrarian indicators. Moreover, based on the 5 XRP charts, XRP holders have very clear cut off dates – if XRP has not risen by June/July of this year, there is something really odd.
It’s tough to give time and space when crypto investing.
Did anyone say that crypto investing is easy?
For those that want to offset the waiting in XRP, you might want to consider our 100-bagger candidate (log in for instant access).
