Multi-Month Bull Signal on XRP Hints At Astronomical Alt Season Gains

Tony "The Bull" Severino

5 years ago

3 mins read

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The native cryptocurrency asset to the Ripple protocol, XRP, may be poised for major upside against Bitcoin if a multi-month bull signal triggers an explosive move.

The surge in XRP could be the spark that ignites another major alt season that has been brewing over the course of the bear market, leading to astronomical gains not seen since the crypto bubble popped.

XRP Shows Clear Reversal Against Dollar, Supported By High Volume Breakout

XRP has now broken out from an over 680-day downtrend and bear market, causing the asset to surge by as much as 90% since the start of the year before a pullback erased a small portion of the 2020 rally.

But the rally is only just getting started. After two years of a bear market to break free from, buy pressure and bullish momentum has been built up and is just waiting to escape to go on an insane run not seen since before the crypto bubble.

The breakout is a clear as day reversal according to a top crypto analyst, and points to surging volume and a backtest of resistance confirming as support as factors that will push XRP much higher in the coming weeks.

With a retest of the trend line breakout now behind us, the analyst is confident that anyone who entered below 32 cents will be happy with their entry for the long-term.

Clear reversal for $XRP, complete with strong volume and breakout + backtest.
Both HOLDLers & traders alike will likely be happy with an entry in this current range of .26-.32c. pic.twitter.com/iG2XnULLhk

— Crypto Thies (@kingthies) February 17, 2020

Ripple Shows Signs of Major Rally Against Bitcoin, Sparking An Alt Season

XRP is also looking extremely bullish on BTC trading pairs, and a bullish divergence only monthly timeframes that extend across most of 2019 into 2020 could be signaling a massively powerful move in the days ahead.

The analyst says that “something is brewing in the alt markets” and that very well may end up being an alt season that will shock the world with the enormous wealth that’s generated in a short amount of time.

I’m sure there’s plenty others in the alt market in similar spots right now, but this slight Bull Div on the #XRPBTC monthly is impressive to say the least.

Something is brewing in the alt markets. pic.twitter.com/cpN9icKy5w

— Crypto Thies (@kingthies) February 18, 2020

If the bull div confirms, it could cause the number three cryptocurrency by market cap to explode against Bitcoin on the XRP/BTC pair.

In the past, when such a breakout occurred, XRP rose nearly 2,000% against Bitcoin. The last time this happened, it followed an ABC correction according to Elliott Wave Theory.

The latest downtrend appears to have also just completed an ABC correction, and a repeat of the 2017 crypto bubble could follow next with an explosive, nearly 2,000% movement in the days ahead.

Should this happen, XRP would likely reach a new all-time high, or at least come close to retesting its previous all-time high set at over $3 per XRP token. Upside targets beyond the previous all-time high reach as high as $14 per token.

Featured image from Shutterstock

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.