Signs that show XRP still has long ways to go !!!
First of all , XRP has always been the lagger in the crypto market .A daily close above 80c would confirm Bullish outlook for the remainder of this market cycle.
XRP has not reached its full 4.236 fib extension and still has long ways to go .
In 2017 XRP reached 41c and the move was measured by using the rally prior to BTC capitulating into into bear market bottom ,placing the fib extension 0.236 on top of that rally and bottom of xrp's bear market gave an target of about 40cents.
Expecting similar stuff to play out even in 2021 market cycle and still today the rally prior to BTC bear market bottom in 2018 is of great significance and shown points of S/R .Using the fib placement ,4.236 extension in similar style gives the target of about 11usd .
In 2017 Bull run we saw 2 major corrections before XRP's peak and both corrections were of nearly equal magnitude with second one being the largest .
Talking about the bullish impulsive move we can clearly see that wave 5 in xrp tends to be bigger than wave 3 and that is also visible in previous market cycle as the last major move before the end of the bull run was larger than previous move.(i.e the wave 5)
In 2020-21 we're seeing similar corrections happening with second one being the largest .In the wave 1,3 of this bull run ,we can clearly see how the subwaves played out with last wave being the largest(i.e wave 5 within wave 1 and 3) .
Talking about wave 5 if we get an nearly equivalent move that occurred within wave 3 ,xrp will reach about 6usd which is still shy of its 10-13usd price target.But considering similar situations that occurred in past ,I assume wave 5 > wave 3 .
Hence it is possible for xrp to reach a price of 10-13USD as we have fib extensions supporting it.
Taking both the impulsive waves of 2017 bull run into account , xrp extends to atleast 10usd .
IMO XRP will face severe selling pressure at 10USD as almost everybody is expecting it so I will be cashing out in the 9USD price bracket if it ever reaches.
This is not Financial advise !!!
XRP has not reached its full 4.236 fib extension and still has long ways to go .
In 2017 XRP reached 41c and the move was measured by using the rally prior to BTC capitulating into into bear market bottom ,placing the fib extension 0.236 on top of that rally and bottom of xrp's bear market gave an target of about 40cents.
Expecting similar stuff to play out even in 2021 market cycle and still today the rally prior to BTC bear market bottom in 2018 is of great significance and shown points of S/R .Using the fib placement ,4.236 extension in similar style gives the target of about 11usd .
In 2017 Bull run we saw 2 major corrections before XRP's peak and both corrections were of nearly equal magnitude with second one being the largest .
Talking about the bullish impulsive move we can clearly see that wave 5 in xrp tends to be bigger than wave 3 and that is also visible in previous market cycle as the last major move before the end of the bull run was larger than previous move.(i.e the wave 5)
In 2020-21 we're seeing similar corrections happening with second one being the largest .In the wave 1,3 of this bull run ,we can clearly see how the subwaves played out with last wave being the largest(i.e wave 5 within wave 1 and 3) .
Talking about wave 5 if we get an nearly equivalent move that occurred within wave 3 ,xrp will reach about 6usd which is still shy of its 10-13usd price target.But considering similar situations that occurred in past ,I assume wave 5 > wave 3 .
Hence it is possible for xrp to reach a price of 10-13USD as we have fib extensions supporting it.
Taking both the impulsive waves of 2017 bull run into account , xrp extends to atleast 10usd .
IMO XRP will face severe selling pressure at 10USD as almost everybody is expecting it so I will be cashing out in the 9USD price bracket if it ever reaches.
This is not Financial advise !!!
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