XRP/BTC - How high can XRP go?
Over the next 2-6 months I expect the price of many altcoins to take off, marking the end of the current bull run / market cycle. In the previous 2 cycles (ending 2013/14 & 2017/18) XRP was one of the best performers, and I believe it will be again in the coming months (with or without any progress from the SEC case filed against Ripple).
To try an identify just how high XRP will go, I am not relying on 'what is a reasonable market cap', because the altcoin market is not exactly reasonable to begin with, which Shiba Inu has recently demonstrated. Instead I am looking at the price of XRP in terms of BTC, the market leader, and applying one of the most basic concepts of technical analysis, that history tends to repeat itself. From this I am going to come up with a range of $ targets for XRP, based on the price of Bitcoin.
In 2013, 2014, 2015, 2017, 2018, 2019, XRP/BTC entered the highlighted zone (approx 0.000089 - 0.000137). Assuming history will repeat itself, I believe XRP/BTC will enter this zone once again in the coming months, likely marking the end of the current cycle. With a minimal target of $70,000 for Bitcoin (just 6% higher than current market price), XRP will need to reach a minimum of $6 in order for the XRP/BTC chart to enter the low of this zone. If Bitcoin ($) goes higher, XRP ($) will also need to go higher if we are to enter this zone as we have done historically. Taking some common targets for Bitcoin, I have generated respective targets for XRP:
BTC: 70k // XRP: $6 - 10 (IF XRP TOPS WHILST BTC IS AT 70K, IT MUST REACH A MINIMUM OF $6 TO ENTER THE HIGHLIGHTED ZONE)
BTC: 107k // XRP: $9 - 14 (IF XRP TOPS WHILST BTC IS AT 107K, IT MUST REACH A MINIMUM OF $9 TO ENTER THE HIGHLIGHTED ZONE)
BTC: 150k // XRP: $13 - 20 (IF XRP TOPS WHILST BTC IS AT 150K, IT MUST REACH A MINIMUM OF $13 TO ENTER THE HIGHLIGHTED ZONE)
BTC: 227k // XRP: $22 - 34 (IF XRP TOPS WHILST BTC IS AT 227K, IT MUST REACH A MINIMUM OF $22 TO ENTER THE HIGHLIGHTED ZONE)
I am leaning towards the first 2 scenarios, and will be keeping a close eye on Bitcoin price to help determine where to start selling my XRP holdings.
To try an identify just how high XRP will go, I am not relying on 'what is a reasonable market cap', because the altcoin market is not exactly reasonable to begin with, which Shiba Inu has recently demonstrated. Instead I am looking at the price of XRP in terms of BTC, the market leader, and applying one of the most basic concepts of technical analysis, that history tends to repeat itself. From this I am going to come up with a range of $ targets for XRP, based on the price of Bitcoin.
In 2013, 2014, 2015, 2017, 2018, 2019, XRP/BTC entered the highlighted zone (approx 0.000089 - 0.000137). Assuming history will repeat itself, I believe XRP/BTC will enter this zone once again in the coming months, likely marking the end of the current cycle. With a minimal target of $70,000 for Bitcoin (just 6% higher than current market price), XRP will need to reach a minimum of $6 in order for the XRP/BTC chart to enter the low of this zone. If Bitcoin ($) goes higher, XRP ($) will also need to go higher if we are to enter this zone as we have done historically. Taking some common targets for Bitcoin, I have generated respective targets for XRP:
BTC: 70k // XRP: $6 - 10 (IF XRP TOPS WHILST BTC IS AT 70K, IT MUST REACH A MINIMUM OF $6 TO ENTER THE HIGHLIGHTED ZONE)
BTC: 107k // XRP: $9 - 14 (IF XRP TOPS WHILST BTC IS AT 107K, IT MUST REACH A MINIMUM OF $9 TO ENTER THE HIGHLIGHTED ZONE)
BTC: 150k // XRP: $13 - 20 (IF XRP TOPS WHILST BTC IS AT 150K, IT MUST REACH A MINIMUM OF $13 TO ENTER THE HIGHLIGHTED ZONE)
BTC: 227k // XRP: $22 - 34 (IF XRP TOPS WHILST BTC IS AT 227K, IT MUST REACH A MINIMUM OF $22 TO ENTER THE HIGHLIGHTED ZONE)
I am leaning towards the first 2 scenarios, and will be keeping a close eye on Bitcoin price to help determine where to start selling my XRP holdings.
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