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Home Cryptocurrency news Bitcoin

Ready For Liftoff: Two-Year Downtrend Breakout Could Lead to $14 XRP

Tony Spilotro by Tony Spilotro
12 months ago
in Bitcoin, Cryptocurrency news, Ripple
Reading Time: 3min read
xrp ripple crypto bitcoin bull flag
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XRP, the cryptocurrency commonly called Ripple, is in the midst of breaking out from downtrend resistance that has kept the crypto asset at low prices for over two full years of bear market.

A breakout from what appears to be a bull flag or pennant pattern could shock the crypto market with rapid, explosive gains, that could bring the price per XRP to as high as $14 each.

How and Why XRP Can Reach $14 With the Next Bull Run

XRP is the native cryptocurrency of the Ripple protocol, and due to its association with the project’s parent company of the same name, it’s often among the most controversial altcoins on the market.

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Crypto investors dislike XRP due to it being arguably more centralized than Bitcoin or Ethereum – something that the firm’s executives challenge on the regular.

Related Reading | XRP Analyst Suggests IPO Could Be Game-Changing for Ripple: Here’s How 

Regardless of if XRP aligns with the early themes of why cryptocurrencies were created or not, it does little to indicate its success as a financial asset.

And out of most altcoins, XRP is among the most widely used across banking institutions and cross-border payment services. It also has among the most potential to disrupt the finance industry, giving it extreme speculative value.

Speculation in the past has caused XRP to surge, resulting in massive moonshots that have allowed early adopters to retire early.

https://twitter.com/jacobcanfield/status/1222513873296732161?s=12

In fact, the past moonshot in XRP could provide clues to where Ripple may head next once it confirms the current breakout of downtrend resistance and begins to rally once again.

As what has happened in the past, and history often repeats, once XRP broke out from downtrend resistance, it exploded over 6000%.

xrp price chart

Ready the Rockets: Breakout Could Cause 6000% Rise in Ripple

The formation of a long, pole-like structure and followed by consolidation at support in a descending manner are telltale signs of a bull flag – a bullish structure that suggests more upside is ahead.

Bull flag targets are measured by taking the original flag pole and using it to estimate the advance to follow the breakout.

Related Reading | Ripple Slowing XRP Sales Could Be a Catalyst for a Massive Price Surge 

If the third-largest cryptocurrency by market cap in the past rose 6000% to form the flag pole, statistical data suggests that Ripple could rise another 6000% following this breakout, and reach prices of $14 per XRP token.

While this may come as a shock to crypto investors who view the token negatively, XRP has the potential to disrupt the multi-trillion dollar cross-border payments industry currently dominated by SWIFT. Ripple’s entire market cap is currently sitting at just $10.4 billion, showing the tremendous upside that XRP has above it.

Featured image from Shutterstock
Tags: breakoutbull flagcryptoRipplexrp
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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