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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Crypto Analyst Pitches a Case For XRP to Hit $30 By End of 2021

Tony "The Bull" Severino
Tony "The Bull" Severino
4 years ago
3 mins read
xrp ripple xrpusd xrpusdt xrpbtc crypto analyst

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XRP is a polarizing cryptocurrency asset, perhaps the most across the industry. It has some of the most die-hard believers, while others despise its very existence in the top ten assets by market cap.

Whatever the stance, a target of $30 per XRP is likely shocking. However, that’s exactly the surprisingly convincing pitch from one crypto analyst that expects that target to be met by the end of 2021.

Another Ridiculous Ripple Target, Or Is $30 XRP Reasonable?

A few weeks ago, Ripple’s performance was so poor, crypto analysts had been comparing its chart to that of livestock manure. Now, the altcoin’s chart is looking a lot more bullish, rising over 10% on the week.

The cryptocurrency even took back the number three rank from stablecoin Tether after the lastest rally in the asset. But still, many targets floating around the crypto market remain laughable, regardless of the community’s opinion of the asset.

Related Reading | Can Mathematical Targets For Ripple Realistically Reach $26?

Targets of $589 per token simply don’t add up, while targets more steeped in mathematics call for $26 for Ripple eventually. The lower of the two targets make another crypto analyst’s prediction of $30 per XRP seem more plausible.

Still, they’ve supplied quite a convincing pitch as to why the asset will reach such valuation by the end of next year.

It's no secret that $XRP is one of the most talked about Cryptos in the space. It has held a top 3 status in market cap longer than most coins have even existed!

By the end of 2021 I expect the price of $XRP to reach $30 which would be over 100x returns from the current price…

— Donovan Jolley (D.I.Y Investing) (@vajolleratzii) July 28, 2020

Crypto Analyst On Why The Altcoin Will 100x By End of 2021

The crypto analyst’s name is Donovan Jolly and runs a YouTube channel with thousands of subscribers called, DIY Investing. There, the analyst reviews price charts for his viewers and hosts “The Moon Boy Podcast.”

Jolly is careful to point out that he isn’t a financial advisor and that any analysis shouldn’t be taken as investment advice. However, his theory is undeniably sound.

First, the analyst points to a visible fractal that several other charts have depicted in the past. Fractals are repeating patterns that form on price charts, and if the one Jolly points to plays out, Ripple could see a “100x.”

Related Reading | Are Altcoins Silver To Bitcoin As Gold? Unusual Correlation Discovered

Second, he compares the price chart of XRPUSD to that of the precious metal silver, which also recently experienced a strong breakout.

An unusual piece of his theory that hasn’t been uncovered by other analysts, is a recurrence of tops, bottoms, and middle-points of each market cycle coinciding with January 1.

ripple xrp xrpusd

XRPUSD Historical Analysis and Fractal | Source: TradingView

W. D. Gann built a legendary career on trading based on market timing involving key dates. Gann paid the closest attention to December and January for timing tops and bottoms of commodities markets. The same has been true for cryptocurrencies like Bitcoin and Ripple.

Research data has shown that Bitcoin was ready to break out into a bull market, but the pandemic and Black Friday set things back. Jolly’s proposed bottoming in XRP was also disrupted by this anomaly, but the asset is well on its way to a breakout now, according to the fractal.

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Tony "The Bull" Severino
Tony "The Bull" Severino

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.

Read more

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.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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