XRP Price May Fall 40% By September — Fractal Analysis
XRP is currently reflecting a trend from April to June 2021 that preceded the price drop of 65% over the following months.
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Double-digit percentage gains for XRP (XRP) this month may have reached exhaustion point, mirroring trends elsewhere in the cryptocurrency market.
This follows the euphoria surrounding Ripple's partial victory against the US Securities and Exchange Commission, leading to bullish calls up to $15 in the coming months.
$15 is reasonable I believe over 18 months or so.
If IPO'd and timed correctly, it could cost up to $35 imo.
Make no mistake…it might not go that high…but $XRP is breaking an all-time high this cycle barring some kind of unnecessary vindictive call from the SEC. (Low chance) https://t.co/rrMCuOacrE
— Ben Armstrong (@Bitboy_Crypto) July 19, 2023Nevertheless, fractal analysis of recent XRP candlestick patterns and price momentum suggests that a sharp market correction is not out of order, particularly if history repeats itself.
Notably, some XRP market signals preceded a 65% price decline in Q2 2021. These are flashing again, namely multi-year descending trendline resistance and an “overbought” Relative Strength Index (RSI), as shown below.
XRP is currently reflecting a trend from April to June 2021 that preceded the price drop of 65% over the following months.
Altcoin Watch
Join us on social networks
Double-digit percentage gains for XRP (XRP) this month may have reached exhaustion point, mirroring trends elsewhere in the cryptocurrency market.
This follows the euphoria surrounding Ripple's partial victory against the US Securities and Exchange Commission, leading to bullish calls up to $15 in the coming months.
$15 is reasonable I believe over 18 months or so.
If IPO'd and timed correctly, it could cost up to $35 imo.
Make no mistake…it might not go that high…but $XRP is breaking an all-time high this cycle barring some kind of unnecessary vindictive call from the SEC. (Low chance) https://t.co/rrMCuOacrE
— Ben Armstrong (@Bitboy_Crypto) July 19, 2023Nevertheless, fractal analysis of recent XRP candlestick patterns and price momentum suggests that a sharp market correction is not out of order, particularly if history repeats itself.
Notably, some XRP market signals preceded a 65% price decline in Q2 2021. These are flashing again, namely multi-year descending trendline resistance and an “overbought” Relative Strength Index (RSI), as shown below.
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