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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Powerful XRP Fractal Points To Redemption Rally, Start of New Uptrend

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
2 mins read
xrp crypto

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XRP is yet another cryptocurrency that has been relatively stagnant. But just like another altcoin that is very closely related to the number three ranked crypto asset that recently saw a strong surge in price, a repeating fractal on XRPUSD price charts could point to a redemption rally and the start of a new uptrend.

After Two Years of Underperformance, XRP May Be Ready For a New Uptrend

XRP has performed poorly compared to most other altcoins over the last two years and suffered strongly against Bitcoin on any BTC trading pairs. Ripple and a closely related altcoin, XLM, have both been named the two worst performing assets of across the crypto space during the bear market.

Even with the downtrend, XRP managed to hold onto is number three ranked spot, but XLM fell completely out of the top ten crypto assets by market cap as a result.

Related Reading | Crypto Analyst: Surge in Volume Off Lows Suggest XRP Will Finally Pump 

But earlier this month, XLM had a powerful breakout caused the asset to surge over 150% from lows on the USD trading pair, and nearly 50% in value against BTC.

Now that Stellar has had a redemption rally, is it Ripple’s turn next? According to a repeating fractal forming on longer timeframe price charts – that time could be very soon.

Ripple Fractal Points To Repeat of Crypto Bubble Altcoin Season Gains

On XRPUSD price charts across weekly timeframes, a fractal has appeared. Fractals are repeating patterns that are commonly found throughout nature, for example, in snowflakes or in flower petals.

They also appear on price charts of financial assets like cryptocurrencies, and the one that has appeared on Ripple price charts points to a powerful rally if the support line holds.

could this be it?$xrp pic.twitter.com/m9znDjeMGZ

— Beachain (@beachainbtc) April 27, 2020

The initial pump after taking off from the trendline, caused XRP to grow by over 850% in value. A pullback happened, followed by another pumped of similar magnitude, causing XRP to rise another 900%.

Related Reading | XRP Buy Signals Stacking on Multiple Timeframes May Spark Ripple Recovery 

XRP then consolidated for roughly a year at the new highs, then as Bitcoin reached its all-time high of $20,000, so did Ripple. Another explosive over 1000% rally ensued, taking XRP price to as high as $3.50 per token.

The asset later fell to a low just this last month on Black Thursday to just ten cents per token.

If the fractal plays out, XRP price could explode as high as $14 per token, based on price targets using figures that match the initial fractal and early 2017 rallies.

Like XLM, the rally could happen right from under the noses of crypto investors that have since capitulated on the asset, giving up hope that prices would ever recover.

Featured image from Pixabay

 

 

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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.

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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

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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