- Crypto expert declares altcoin XRP to be at a decision point.
- The crypto enthusiast shares bullish vs bearish triggers for Ripple’s native token.
- One analyst draws comparison to XRP’s chart now to the bullish times of 2017 – 2018.
The price of promising altcoin did run this bull cycle but not as bullishly as analysts and traders expected, leading to predictions that the assets are not yet done with their bullish run this cycle. At the moment, a crypto expert declares altcoin XRP to be at a decision point and goes on to share the most important bullish and bearish triggers in the crypto market for Ripple’s native token XRP.
Crypto Expert Declares Altcoin XRP to be at a Decision Point
Ripple’s XRP is one of the many altcoins in the crypto market that was expected to experience a parabolic run this bull cycle. This was because the price of XRP had not pumped over the last couple of bull cycles due to its case with the SEC. After nearly 8 years, the XRP won the lawsuit and immediately experienced two bullish price pumps. However, these pumps did not bring it to reclaim its previous ATH price.
This was disappointing as most analysts believed that XRP would make up for its stunted growth over the past two bull cycles and catch up to its place in the same level as Bitcoin and Ethereum, in terms of total market cap. This mega exponential pump that would take XRP to new ATH targets, possibly in the double-digit region, is still expected to arrive in the long-awaited altseason that may yet play out this year.
As we can see from the post above, this crypto enthusiast states that XRP is at a crucial decision point and is entering a multi-timeframe breakdown, determined by a tight consolidation on the 4-hour price chart, a descending wedge on the daily chart, and is sitting at a major support and preparing for an RSI retest on the weekly chart. This leads the post to conclude that a compressing before an expansion is expected.
Bullish vs Bearish Triggers Highlighted for XRP
The post also states that XRP has been stuck at a sideways movement for months, leading to a setup that is tighter than before, concluding that a big move is incoming. The post ends by stating that an exciting week lies ahead, what with the US Congress coming back Monday and multiple policymakers, legislatures, and institutions all calling on the Clarity Act to be passed. In addition, another post debates parabolic pump possibilities for XRP.
As we can see from the post above, this trader highlights XRP’s 107,700% surge from 2017 – 2018. He says if one applies this same mega bull market surge based on a similar fractal formation, then XRP now would hit a new ATH at $450, meaning XRP could see a price pump of around 33,482% from its current price. He then sets his expected sell targets, the first when XRP hits $25, the second when XRP hits $75, and the third when XRP hits $125, where he will sell a very small amount each time.
