Published
5 years ago on
December 18, 2018
Ripple (XRP) has climbed aggressively the past few days despite the rallies being overextended. The price action is now pointing to a fractal similarity that indicates that Ripple (XRP) might be due for an explosive breakout in early 2019. If we compare both fractals on the XRP/USD weekly chart, we can see that Ripple (XRP) is about to enter the triangular part of the fractal, breaking out of which will pave the way for Ripple (XRP) to reach a new all-time high. The same cannot be said for most cryptocurrencies. Even Bitcoin (BTC) is likely to rally during 2019 but has a very small chance of surpassing its previous ATH in 2019. However, if Ripple (XRP) were to surpass its previous ATH the next year, it would not be surprising at all.
The weekly chart for XRP/USD shows that the price has now found support atop a trend line that extends all the way to July 2018. Just like November 2017, XRP/USD is once again close to the 21 Week EMA. We have seen in the past that whenever Ripple (XRP) breaks above the 21 Week EMA after a long correction, the price skyrockets just in a matter of weeks. Previously, this happened around late November, when Ripple (XRP) formed four long candles in succession that took the price to a new all-time high. This is the reason why so many Ripple (XRP) investors are hodlers. You may be waiting a long time for the price to rally but the rally is going to happen just in a few weeks. The rest of the year will be all correction. We have seen this happen many a time with XRP/USD.
Chart for XRP/BTC (1W)
Given the future outlook of Ripple (XRP) in light of recent developments, it makes even more sense to be bullish on this cryptocurrency now more than ever. Ripple (XRP) is sending a clear message across the financial world that it has what it takes to trade body blows with the strongest in the industry. This is truer today as Ripple (XRP) has a lot of powerful partners on its side. If a country were to declare XRP as legal tender, I for one would not be surprised. Between the decentralization revolution and the fight to maintain the status quo, most financial institutions see Ripple (XRP) as their only option. We can see the move towards decentralization across the globe.
People are starting to question the influence Google and Facebook have. It is only a matter of time before they turn towards cryptocurrencies like Bitcoin (BTC) to cut out the middle man. Major financial institutions that have been here for centuries have seen all sorts of things come and go, but this is different. This here is an attempt to take over their businesses. They are not going to give up without putting up a fight. Right now, Ripple (XRP) is offering them the munitions to put up that fight. Ripple (XRP) may not be a permanent solution to our banking problems but it is a very effective solution at the moment, one that will make waves in the financial sector in the months and years to come.
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