$XRP long term weekly chartOkay so first of all this idea might seem a little crazy. BUT for my target analysis I simply applied the same fib levels and percentage ranges from the 2017/2018 bull run. That previous bull cycle included basically 2 bull runs. The basic premise for my target analysis is that we'll get this kind of 2 fold bull run in 2021/22 again.
So, let's start:
Currently the XRP price is at the 0.5 fib retracement level from the 2018 bull run. In 2017 the price retraced until the 2.618 level before we got a huge pullback to the 0.702 level, followed by a rally all the way up to the 2018 ATH.
Applied to 2021 this means we would go all the way up to around $9 (2.618 level) before a big pullback to $2.50 (0.702 level) followed by a shoot up to around $50 which marks the 2021 top.
After the blow off top with a pullback of around 70% to the 4.236 (around $14) level which acts now as support.
Followed by a 8 month consolidation and cool off period before we start again with the final run up that could lead us all the way up to around $420 according to the percentage moves from the 2018 cycle.
Taking into account that many people often sell too early and that parabolic phases often last much longer than most people think I consider these price level as an interesting idea.
Disclaimer:
This is by no means a prediction of any kind. This is simply an IDEA. The idea that the same percentage moves apply in 2021/22 as in the 2017/18.
THIS IS NOT INVESTMENT ADVICE
