Hey guys, an update today for you on XRPUSD...
Through my years in crypto, I have grown to love coins that have progressed seemingly slow compared to other coins in the market cycle. As you can see, XRP has been very range bound, and has yet to reach ATH's unlike most other coins this market cycle thus far. While there were fundamental reasons for this, such as it's lawsuit, I believe that XRP's slow process has accomplished a 2 key things:
1. It has built up enough strength through months (even years) of consolidation to go on a run like it did back in 2017
2. Has without a doubt wiped out over leveraged positions and weak hands from the space, enabling whales to buy up their sales
With these two fundamental factors in mind, we can take a look at the chart and see that XRP looks to be testing support one last time, which I believe will ultimately set up for a massive q1+q2 pump bringing it to a new ATH, and far above it's previous when it hits price discovery, and allows the fomo train to take its course.
As always, if you appreciate the analysis, please like and follow us to show us your support. Additionally, if you have any questions leave them in the comments, and/or shoot us a message on tradingview. We make sure to respond to all messages from those who support us by following us.
Until next time, trade safely and don't get wrecked... cheers!
Through my years in crypto, I have grown to love coins that have progressed seemingly slow compared to other coins in the market cycle. As you can see, XRP has been very range bound, and has yet to reach ATH's unlike most other coins this market cycle thus far. While there were fundamental reasons for this, such as it's lawsuit, I believe that XRP's slow process has accomplished a 2 key things:
1. It has built up enough strength through months (even years) of consolidation to go on a run like it did back in 2017
2. Has without a doubt wiped out over leveraged positions and weak hands from the space, enabling whales to buy up their sales
With these two fundamental factors in mind, we can take a look at the chart and see that XRP looks to be testing support one last time, which I believe will ultimately set up for a massive q1+q2 pump bringing it to a new ATH, and far above it's previous when it hits price discovery, and allows the fomo train to take its course.
As always, if you appreciate the analysis, please like and follow us to show us your support. Additionally, if you have any questions leave them in the comments, and/or shoot us a message on tradingview. We make sure to respond to all messages from those who support us by following us.
Until next time, trade safely and don't get wrecked... cheers!