XRP Targets New All-Time Highs After Surviving SEC Slaughter

Tony "The Bull" Severino

1 year ago

3 mins read

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XRP is now trading at $1 or more, even despite the parent company Ripple still being locked in a legal battle with the United States Securities and Exchange Commission.

Not only does the recent pump prove the power of borderless cryptocurrencies, but it takes the token to a key technical level that if broken, should target a new all-time high well above the former peak at more than $3 each.

XRP Pumps Beyond $1, But Could Climb To New All-Time Highs

Investors in the United States are likely livid right now with the Securities and Exchange Commission’s decision to pursue legal action against XRP parent company Ripple and its executives.

The SEC deemed the token an unregistered security, and exchanges in the country were forced to delist XRP immediately. An expected selloff resulted from a large share of investors stuck cashing out their bags – otherwise strong hands forced by the government that is supposed to be protecting them.

Regardless of the legal implications for Ripple, the borderless design of cryptocurrency technology and lack of alignment with any single country, has allowed XRP to live on – now thriving as it makes a sharp recovery to more than $1 per XRP.

Ripple Rocket Is Ready For Liftoff, With Or Without An SEC Decision

The last time that XRP rocketed to $1, it didn’t stop there. The coin kept pumping to a high of more than $3.50 per token at the height of altcoin season in early 2018.

There are now infamous guides posted by major media outlets educating users on how to buy the top, and investors have been waiting ever since for a recovery.

The recovery could be here now that the coin is back at $1. After the initial selloff, the Stochastic indicator on monthly timeframes has turned sharply up, and the Bollinger Bands have fallen literally off the chart with volatility. The expansion comes after a lengthy and exceptionally tight “squeeze” of the bands, which should result in an even more powerful move to the upside.

Based on the measure rule and bullish technical, Ripple could rip to $7 | Source: XRPUSD on TradingView.com

In the past, XRP has beaten all expectations. A modest target based on the measure rule alone, could project the coin to explode to nearly $7 apiece in the somewhat near term.

If for some reason US investors are allowed to buy XRP again, runaway FOMO could push prices far beyond that for a more dramatic peak that the altcoin is historically known for. Even if it doesn’t, the SEC has done serious damage to US investors by forcing them to miss out on what could be life-changing wealth.

Featured image from Pixabay, Charts from TradingView.com

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.

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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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