mwinmill

Using XRP to find the next Bitcoin all time high

Short
POLONIEX:XRPBTC   XRP / Bitcoin
XRP has one of the longest, most painful bear markets in crypto. What is also interesting is the start different between the USD and BTC pair. When bitcoin was crawling it's way out of the trenches in the last bear market, XRP was just barely hitting rock bottom. It wasn't until Bitcoins first attempt at a new all time high and promptly dropping below the previous all time high when XRP took off with it's massive bull move. As soon Bitcoin made a second attempt, XRP had already shot to the moon and was finding support.

The point is, XRP hasn't broken out of the down trend. The USD chart looks more favorable, but it is likely to be short lived until it can break the trend against the BTC pair. An XRP bull run isn't likely to happen until Bitcoin makes a move for 20K. If XRP is just following a similar pattern as it's previous bull run, it's unlikely to break out until 2021. That also gives a tacit indicator for Bitcoin. We will likely not see a new all time high until at least next year.

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