$XRP XRP

Let’s talk about Ripple (XRP) because I know the frenzy of discussions that will emerge during these days.
• Technically: It is poised to reach significant numbers.
• Theoretically: It is also expected to hit large figures.
• Financially: I’m not sure, but there are catalysts.

My expectations (with everything subject to God’s will):
1. One indication of exceptional movement in XRP would be breaking its previous all-time high from 2017, which was $3.3, before Bitcoin surpasses the psychological barrier of $100,000.
2. Another sign would be its continuous rise even if Bitcoin and the broader market undergo corrections, meaning XRP might defy the general market trend and keep climbing.
3. Technically, XRP has a triangular pattern remarkably similar to that of 2017. To move away from speculative numbers, I’ve marked a target range based on the breakout distance of this triangle. Keep in mind that XRP exceeded this target in 2017 and reached even higher levels.
4. Targets of $7, $11, and $18 are plausible, especially after the legal case with the SEC that crushed investors’ hopes in 2021. Additionally, the delisting of XRP from U.S. exchanges and its exclusion from significant liquidity in those markets may lead to a retaliatory influx of funds from its community, which is still frustrated by those events.
5. Currently, there is an inflation in open interest for XRP, but the risk level remains low. This suggests continued upward momentum or corrections followed by faster rebounds than before.

A point to note: XRP is one of the 1% of cryptocurrencies that did not break its previous all-time high from 2017 during the 2021 bull run. Keep this in mind, as there may be a form of “compensation” for those missed opportunities.

Quoted from Naif-Chart