XRP/USDT Monthly Chart: History Repeating Itself?Hey traders! Let’s dive into this monthly XRP/USDT chart. I’ll be honest — I’m skeptical about this outcome, but let’s break it down because it could actually happen!
The chart screams déjà vu, with XRP’s price action mirroring the 2014-2018 period. Back then, XRP broke out from its 2014 ATH in 2017, leading to a massive rally. Fast forward to now, and we’re seeing a similar setup, but with a twist. XRP is struggling to break through the 2018 ATH resistance zone around $3.31, which reminds me of the Breakout Consolidation phase we saw in 2017. Historically, this consolidation led to a breakout, and the chart hints at a potential repeat!
If XRP breaks out soon, we could see a parabolic move, potentially targeting much higher levels. However, the current resistance is a tough hurdle, and if it fails, we might see a pullback to lower supports.
Key Levels to Watch:
Resistance: $3.31 (2018 ATH)
Support: $1.643 (previous consolidation low)
Breakout Target: To be determined (potentially parabolic)
Breakdown Risk: $0.650
I’m not fully convinced, but the setup is intriguing — could this be XRP’s moment to shine? What do you think? Let’s discuss below!
