XRP since it was listed on Poloniex back in 2014 seems to have mirrored the overall price action of BTC over the years but at a much slower pace.
It would appear that BTC makes the move first then XRP takes about 65% longer to make a move of equal significance.
We can see that BTC had a Major Pump in 2013 and that from there it traded within a range until 2017 before rising 5,424%
XRP's story appears to be the same but with the small twist that it is still trading within it's Multi-Year-Range that it's found itself trading within after a huge 2017 rise.
2022 will be coming to and end soon and it will soon be that XRP has traded 6 Years within this range and just like BTC in the past it appears to be holding on to a trendline, if XRP goes like how BTC went, then we should expect XRP to be nearing or even above the top of the range Several Months after it's first test of the trendline which would point us to February 2023.
If XRP's Multi-Year-Range Breakout lives up to BTC's, I would expect to see an approximate 5,400% pump from XRP's Range Highs which would take it up to the seemingly insane and "unreachable" target of $120.94
We even have some added Monthly MACD Hidden Bullish Divergence to back XRP up.
It would appear that BTC makes the move first then XRP takes about 65% longer to make a move of equal significance.
We can see that BTC had a Major Pump in 2013 and that from there it traded within a range until 2017 before rising 5,424%
XRP's story appears to be the same but with the small twist that it is still trading within it's Multi-Year-Range that it's found itself trading within after a huge 2017 rise.
2022 will be coming to and end soon and it will soon be that XRP has traded 6 Years within this range and just like BTC in the past it appears to be holding on to a trendline, if XRP goes like how BTC went, then we should expect XRP to be nearing or even above the top of the range Several Months after it's first test of the trendline which would point us to February 2023.
If XRP's Multi-Year-Range Breakout lives up to BTC's, I would expect to see an approximate 5,400% pump from XRP's Range Highs which would take it up to the seemingly insane and "unreachable" target of $120.94
We even have some added Monthly MACD Hidden Bullish Divergence to back XRP up.
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Staying consistent with the trend of XRP following BTC's moves but slower, XRP has recently broken above it's range and has been consolidating above the previous ATH resistance for several months. Taking in these events one can assume that XRP is looking the buck the macro trend in the cryptocurrency markets and make it's way up to the breakout levels.$120 still appears to be the target in the ultra long term but assuming that XRP is going to be rallying as the rest of the crypto Bull cycles comes to an end I'd suspect XRP could reach as high as the 1.618 Fibonacci Extension near $27-$30 thus completing the triangular breakout fractal when compared to BTC. I think BTC and ETH on the underhand will majorly underperform and fail to make new highs, perhaps even go down as XRP rises. During this time upon XRP hitting it's target it will likely move down with the rest of the market, this time making a significantly higher low.
Fore reference here is a chart comparing BTC's breakout and performance to XRP's current breakout and potential performance. It can be seen that when BTC broke out it went straight for the 1.618 at $61.8k, then during it's secondary run it topped out at the 1.902 HOP level where it will likely stay below. If XRP is to mirror BTC's performance, it should have no problem, during this current cycle, running to $27 where 1.618 Extension is and eventually could find its way all the way up at $71 where the 1.902 is:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.