DID XRP JUST SPARK THE UPCOMING BULL MARKET AGAIN!
So for those of you who do not know yet, I'm glad to be the one to let you know that XRP/Ripple has officially been ruled in favor over the SEC and is NOT deemed a security. After all these years the XRP tree has finally bared us juicy fruit.
The reason I am suspecting the beginning of the next bull market is obviously based on the fact that XRP has won the case, however, I have gone a bit deeper than that. The previous bull market of 2021 was sparked due to the news of the Ripple case, could of been a co-incidence, but I am open to criticism on that statement, however, the market rallied roughly 66% after the news broke in the previous cycle (month of November 2020)
A visual comparison to the structure of the previous bull market stem and the current market structure share a few striking similarities. in order to gather more confluence in my statement i have gathered info from a few indicators which i shall express in the paragraphs that follow.
MACD: As indicated within the circles, those particular formations share a common feature, they both break away sharply after a almost harmonic consolidation period.
MA: I have used the 18-100EMA MA on my chart. As you can see the 18ema breaking above the 100EMA in the previous bull market resulted in an on going incline of the price. in the current market structure the 18 is on the verge of breaking the 100, which is a great sign for the bulls.
Narrative: You cant deny that the narrative behind the market as a whole, especially XRP is currently at an all time high and I feel it is only getting started as institutional backing is a guarantee as XRP is officially the first regulatory approved asset. Next move is adoption into the framework of CBDCs.
I do feel the market is doing to have a retracement in the days to come, however, nothing to alter the long term perspective. if you do plan on putting some cash into XRP, maybe wait a couple days as a retracement is most likely going to occur. (not financial advice)
Let me know what you think about the current state of the market and whether you disagree with my point of view, am always open to constructive criticism.
Thank you for your time, feel free to leave a like and follow if you'd like to receive more crypto related analysis.
The reason I am suspecting the beginning of the next bull market is obviously based on the fact that XRP has won the case, however, I have gone a bit deeper than that. The previous bull market of 2021 was sparked due to the news of the Ripple case, could of been a co-incidence, but I am open to criticism on that statement, however, the market rallied roughly 66% after the news broke in the previous cycle (month of November 2020)
A visual comparison to the structure of the previous bull market stem and the current market structure share a few striking similarities. in order to gather more confluence in my statement i have gathered info from a few indicators which i shall express in the paragraphs that follow.
MACD: As indicated within the circles, those particular formations share a common feature, they both break away sharply after a almost harmonic consolidation period.
MA: I have used the 18-100EMA MA on my chart. As you can see the 18ema breaking above the 100EMA in the previous bull market resulted in an on going incline of the price. in the current market structure the 18 is on the verge of breaking the 100, which is a great sign for the bulls.
Narrative: You cant deny that the narrative behind the market as a whole, especially XRP is currently at an all time high and I feel it is only getting started as institutional backing is a guarantee as XRP is officially the first regulatory approved asset. Next move is adoption into the framework of CBDCs.
I do feel the market is doing to have a retracement in the days to come, however, nothing to alter the long term perspective. if you do plan on putting some cash into XRP, maybe wait a couple days as a retracement is most likely going to occur. (not financial advice)
Let me know what you think about the current state of the market and whether you disagree with my point of view, am always open to constructive criticism.
Thank you for your time, feel free to leave a like and follow if you'd like to receive more crypto related analysis.
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