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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Three Signs That XRP Has Finally Found It’s Bear Market Bottom

Tony "The Bull" Severino
Tony "The Bull" Severino
4 years ago
3 mins read
xrp bottom

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XRP continues to sink, as does the stomachs of investors who have held the altcoin as a loss for over two years running.

All that loss and suffering could soon come to an end, due to a number of signals that could indicate the asset has finally found a bottom.

Remembering The Ups and Downs of Ripple Investment

Cryptocurrencies like Ethereum, Litecoin, and Ripple are bound as one-half of trading pairs to either USD or BTC.

Because nearly all crypto assets share a trading pair with the leading cryptocurrency by market cap, when it moves, they follow.

An entire metric of Bitcoin dominance has been developed to watch this ebb and flow more closely.

When Bitcoin rises in USD value, it typically drags altcoins along for the ride. How much they rise and fall during each Bitcoin rally or drop, impacts their ratio and value in sats.

At XRP’s peak in 2018, the altcoin achieved an all-time high valuation of over $3.50. Major mainstream media outlets covered how to buy the asset investors had been scrambling to hold.

Related Reading | The Price Trend of Ripple Stunningly Reflects That of Sheep Manure Stock

As soon as the bubble burst on crypto and Bitcoin, Ripple and other altcoins bled out by over 90%. XRP, in fact, remains down by over 90% on both its USD and BTC trading pairs.

Because Bitcoin appears to have bottomed in terms of USD, XRPUSD may have also bottomed a while ago. However, on the XRPBTC trading pair, it has been nothing but a free-fall for the better portion of the bear market.

The altcoin reached a peak of over 23000 satoshis during the crypto bubble but is currently trading around 2000 sats today.

However, there are multiple signs pointing to a major recovery in Ripple forming slowly as the days go by.

xrp downtrend

Ripple XRPBTC Weekly Downtrend Resistance | Source: TradingView

XRP May Finally Have Bottomed, Five Signs A Sharp Recovery Is Next

On the XRPBTC trading pair, the altcoin has now broken free from and held a retest of long-term downtrend resistance turned support.

xrp morning star

Ripple XRPBTC Weekly Morning Star | Source: TradingView

Zoomed in, coinciding with the weekly support holding, a morning star pattern has also formed on the same chart timeframe.

The breakout of long-term downtrend resistance is also accompanied by a massive, year-long bullish divergence on the MACD indicator.

xrp macd bull div

Ripple XRPBTC Weekly MACD Bull Div | Source: TradingView

The highly accurate TD Sequential indicator has also triggered a buy setup on quarterly timeframes. Similar signals have also triggered on daily, weekly, and monthly charts recently.

xrp 3m td 9 buy

Ripple XRPBTC 3M TD Sequential "9" Buy Setup | Source: TradingView

Sentiment may be at an all-time low for the altcoin, but whales are accumulating any XRP sold from smaller investors capitulating after three years of new lows being set.

Related Reading | Ripple Effect: Crypto Whales Buy Up A Sea of Small Fish Selling

However, given all the signals above, they may be selling the absolute bottom, and altcoin could soon surge into a strong, overdue recovery.

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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

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

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